PTS Refund Policy for Title IV Funds
Students who officially withdraw from Pittsburgh Theological Seminary during the term may be eligible for a refund of a portion of the tuition and fees paid for that term. Title IV aid (Federal Direct Loans and Federal Graduate Plus Loans) refunds are based on the date the student began the institution's withdrawal process or Registrar’s official date of withdrawal. Students who do not follow the official withdrawal procedure but who stop attending ALL classes will be considered to have withdrawn at the 50 percent point of the term unless attendance is documented after that time.
Return of Title IV Funds Formula
A student’s resignation and tuition charges will be adjusted in accordance with the official federal “Return of Title IV Aid” formula. The federal formula is applicable to any student receiving federal aid who withdraws from the Seminary during the first 60% of a term. These students will have their federal aid adjusted based on the percent of the term completed. Basically, students will be entitled to retain the same percent of the federal aid received as the percent of the term completed. This percent is calculated by dividing the number of days in the term (excluding breaks of five days of longer) into the number of days completed prior to the withdrawal (excluding breaks of five days or longer). There will be no adjustment to federal financial aid after the completion of 60 percent of the term.
How Remaining Refunds are Distributed
If any refund remains after the required return of the Title IV aid, the refund will be used to repay Pittsburgh Theological Seminary, other private sources and the student. This will be distributed in proportion to the amount paid by each non-federal source, as long as there was no unpaid balance due at the time of withdrawal. If there is an unpaid balance, then all aid sources will be repaid before any refund is paid to the student.
PTS Distribution Policy
Once the amount of the federal funds to be returned has been calculated, the funds will be returned to the appropriate programs in the following order:
- Unsubsidized Direct Loans
- Graduate Plus Loans
Repayment of Unearned Financial Aid Assistance
Students who receive a refund from financial aid before withdrawing from the Seminary may owe a repayment of federal aid funds. Students will be notified by the Business Office and will be given an opportunity to repay the funds to the Seminary. Students who fail to return the unearned portion of federal financial aid funds given to them will have a “hold” placed on their Seminary records.
PTS Enrollment Status
Federal regulations and institutional guidelines require students to be registered before aid can be disbursed. In addition, all programs specify minimum enrollment requirements in order for a student to receive any assistance. At PTS, these requirements are broken into enrollment classifications; full-time, half-time and less-than-half-time. The chart below indicates the number of credits used to determine a student’s enrollment status.
|Full-Time||9 Credits or More||6 Credits or more|
|Half-Time||6 Credits||3 Credits|
|Less than Half-Time||Less than 4 1/2 Credits||Less than 3 Credits|
Leave of Absence
Withdrawal from all classes (hence the Seminary) requires that a student make this known by the use of an official withdrawal form, obtained from the Registrar's Office. Students who wish to return during the same academic year must meet with the Dean of Faculty or Registrar. All students who voluntary leave for a period over two years, must reapply through the Admissions department. Students who have dismissed by action of the faculty must re-apply to the Admissions Office. All aid will be canceled when a student ceases to be enrolled.