NYCI - Refund and R2T4 Policies

Withdrawal, Refund and R2T4 Policies

Attendance Policy
Regular attendance in classes is necessary for students to achieve academic success. Instructors shall monitor class attendance periodically throughout the trimester as academically appropriate. Students with excessive absences may be subject to grade reductions and or course failure at the discretion of the instructor. Instructors will also report all attendance issues to the Dean of Academic Affairs, who will attempt to provide academic counseling and/or tutoring as necessary to assist the student.

Students with excessive absences/attendance issues in individual courses may be advised to withdraw from the course if achievement of a passing grade is no longer possible. Students with excessive absences/attendance issues in multiple courses may be administratively withdrawn from the program at the discretion of the Dean of Academic Affairs.

Official Withdrawal Policy
A student who intends to withdraw from the program is required to notify the Dean of Academic Affairs or other appropriate college official of his/her intent to withdraw. Whenever possible, the notification shall be either in written or in-person format. Withdrawal notifications by telephone, e-mail, third-party communication, or other communications method are deemed “official notifications” at the discretion of the Dean (or other designated official) based upon the credibility of the communication. All withdrawal notifications may be subject to verification through follow-up communication to the student.

If it becomes apparent to the Dean of Academic Affairs, based on instructor reports, that a student may have discontinued his/her studies during a trimester without notifying the college, the Dean (or other designated official) will attempt to contact the student to determine the student’s status. If the college is unable to contact the student, the student may be administratively withdrawn from the program at the discretion of the Dean.

Official Date of Withdrawal and the Official Date of Determination
The official date of withdrawal and the official date of determination are determined as described below, for all purposes including the federal “Return to Title IV” (R2T4) calculation and notifications to lenders, guarantors and/or NSLDS.

The date of withdrawal, for a student who withdraws between trimesters or otherwise does not return for a subsequent trimester for any reason (including academic dismissal), shall be the last day of scheduled classes/examinations for the prior trimester. The date of determination shall be the date the college was notified of the student’s intent to withdraw/discontinue, the date the college dismissed the student academically, or the last day of the drop/add period for the subsequent trimester, whichever is earliest.

For a student who is dismissed or withdraws during a trimester, both the official date of withdrawal and the official date of determination shall be the date the student began the official withdrawal process by notifying the college (as detailed in the policy above), the date the college became aware of the student’s intent to withdraw through credible communication with the Dean of Academic Affairs (or other designated official), or the date the student was dismissed/administratively withdrawn for any reason, whichever is earliest.

Tuition Refund Policy
Students who officially withdraw or are dismissed from their program during the early part of a trimester may be entitled to a partial reduction in their tuition as follows:

During the first week of classes                      100% refund
During the second week of classes                 75% refund
During the third week of classes                       50% refund
During the fourth week of classes                     25% refund
During the fifth week of classes and after          0% refund

Students who withdraw prior to the 60% point of the trimester may lose partial eligibility for student aid, and thus may owe a balance to NYCI or to the US Department of Education. Students considering withdrawal are strongly encouraged to meet with the Financial Aid Office.

Financial Aid Return Policy (Return to Title IV)
Recipients of Federal Title IV financial aid who withdraw from enrollment at NYCI, or have their enrollment terminated for administrative, disciplinary, attendance, or other reasons will have their financial aid eligibility re-calculated under a formula prescribed by the U.S. Department of Education. This formula is called the "Return to Title IV" or "R2T4" formula. In general, a student will keep only the pro-rated portion of student aid “earned” through attendance in the first sixty percent of the enrollment period (trimester). Upon completion of the first sixty percent of the trimester, all of a student’s financial aid is considered “earned” and no return of funds is necessary.

The college will calculate the amount of aid earned/retained using the pro-rata R2T4 formula prescribed under Federal regulation. The Financial Aid Office will determine the amount of Title IV aid earned by multiplying the total Title IV aid (other than FWS) for which the student qualified by the percentage of time enrolled. The student is only entitled to the pro-rated portion of the federal student aid received according to the formula, and may be required to return aid funds to the U.S. Department of Education under certain circumstances. More detailed information on the Return of Title IV Funds may be obtained from the Financial Aid Office.

The pro rata refund calculation stated above does not include the registration fee or books, materials and lab fee. If a student drops out of college, any refund that is due will be paid within 45 days of the earliest of (I) date on which the college determines that the student dropped out: (II) expiration of the academic term in which the student withdrew; or (III) expiration of the period of enrollment for which the student has been charged.

Financial Aid Mainpage

Consumer Information Mainpage

Students or other persons with questions about withdrawal policies should
contact the Dean of Academic Affairs' Office at (212)-962-0002.