Financial Aid

Refund Policies

Policy on Refunds

Adjustments of tuition, room, and board charges are made only upon official withdrawal from the University. Students who attend less than 60% of their semester at IWU will receive a pro-rata adjustment to their charges for the term of enrollment. The full semester charge will be assessed to those who withdraw beyond the 60% period of attendance.

No adjustment is made if a student changes from full-time to part-time status after the start of classes in the fall or spring semesters.

Students who receive Federal assistance or merit-based awards will have that aid prorated according to a refund policy mandated by the 1998 amendments to the Higher Education Act of 1965.

When tuition and room adjustments are authorized, they are made according to the following schedule:

The total number of calendar days of enrollment prior to withdrawal (up to 60% of the semester) will be divided by the number of calendar days in a regular semester. Withdrawal after the 60% point in the semester will mandate 100% of the semester's charge.