Tuition Refund Policy
LIM College – Undergraduate Student Tuition Refund Policy
On-Campus Undergraduate Tuition Liability
If a student fully withdraws from the College within the first eight weeks of a semester, the student will be charged an adjusted tuition amount based on a percentage of the original tuition amount and tied to the week in which he/she withdrew. One hundred dollars of tuition paid in a semester is non-refundable and will be charged as a $100 non-refundable fee. The following chart represents the eight-week tuition liability scale for fully withdrawing students:
Full-Time Tuition Liability
| During the 1st week | 10% tuition liability |
| During the 2nd week | 30% tuition liability |
| During the 3rd week | 50% tuition liability |
| During the 4th week | 60% tuition liability |
| During the 5th week | 70% tuition liability |
| During the 6th week | 75% tuition liability |
| During the 7th week | 75% tuition liability |
| During the 8th week | 80% tuition liability |
If a student partially withdraws from the College within the first eight weeks of classes in a semester and drops below full-time status (maintains fewer than 12 credits excluding withdrawn courses), the student will be charged a percentage of her/his full-time tuition liability (see the Full-Time Tuition Liability chart above) and a percentage difference of her/his part-time tuition liability.
Housing charges and associated fees are subject to the terms and conditions of the housing contract. For further information, please contact the Office of Housing & Residence Life at (646) 388-8427 or residencelife@limcollege.edu.
Online Undergraduate Student Tuition Liability Schedule:
Session 1 & 2:
Students who withdraw fully from the College or partially from one or more courses during the first three weeks of each session will be charged an adjusted tuition amount based on the week of withdrawal as follows (each week ends at 12:00 p.m. Monday - Eastern Time)
| During the 1st week | 0% tuition liability |
| During the 2nd week | 25% tuition liability |
| During the 3rd week | 50% tuition liability |
| Thereafter | 100% tuition liability |
Session 3:
Students who withdraw fully from the College or partially from one or more courses during the first eight weeks of each session will be charged an adjusted tuition amount based on the week of withdrawal as follows (each week ends at 12:00 p.m. Monday - Eastern Time)
| During the 1st week | 10% tuition liability |
| During the 2nd week | 30% tuition liability |
| During the 3rd week | 50% tuition liability |
| During the 4th week | 60% tuition liability |
| During the 5th week | 70% tuition liability |
| During the 6th week | 75% tuition liability |
| During the 7th week | 75% tuition liability |
| During the 8th week | 80% tuition liability |
Financial Aid: Federal (Title IV) Funds
The U.S. Department of Education requires the return of Title IV funds if a student received federal assistance in the form of a Pell Grant, Supplemental Educational Opportunity Grant (SEOG), Federal Stafford Loan, or a PLUS Loan and withdrew completely on or before completing 60 percent of the semester. Students have only “earned” the portion of their federal aid that is equal to the percentage of the semester that they have completed. Thus, the percentage of Title IV funds that must be returned to the government is essentially equal to the percentage of the semester that the student has not completed at the time of withdrawal. The order in which Title IV funds are to be returned has been determined by the U.S. Department of Education and is as follows:
1. Federal Unsubsidized Direct Loan
2. Federal Subsidized Direct Loan
3. Federal PLUS Loan
4. Federal Pell Grant
5. Iraq & Afghanistan Service Grant
6. Federal Supplemental Educational Opportunity Grant (SEOG)
(Please note: LIM College does not currently offer new loans in the federal Perkins Loan program.)
The U.S. Department of Education has different rules and regulations for each type of aid offered in the Federal Title IV Aid Program. Students who partially withdraw will likely require adjustments to their Federal Title IV Aid. Please consult with a staff member in the Office of Student Financial Services to determine how your aid may be affected.
New York State (NYS) Aid
Students receiving NYS Tuition Assistance Program (TAP) grants who fully or partially withdraw from the College may choose to utilize their grant to cover the charges for the semester in which they are withdrawing. Students who fully withdraw and choose to keep their award will not be eligible to receive a NYS TAP payment in their next full-time semester of enrollment at any college based on the program pursuit requirements set forth by the NYS Higher Education Services Corporation (HESC). Students who partially withdraw are able to retain their NYS TAP eligibility for the semester in which they withdraw, but may not be eligible the following semester based on program pursuit guidelines set forth by NYS HESC.
LIM College assumes that all students who withdraw with NYS TAP eligibility will not want to retain their NYS TAP grant at LIM College for the semester in which they are withdrawing. If a student would like to retain her/his NYS TAP grant eligibility for the semester in which she/he is withdrawing, then the student must complete a Tuition Assistance Program (TAP) Retention Authorization for Withdrawal form.
LIM College Scholarships and Grants
Students who withdraw and are receiving LIM College grants or scholarships can retain a prorated portion or their entire award based on the week in the semester or session in which they withdraw and their assessed tuition liability.
LIM College – Graduate Student Tuition Refund Policy
Tuition Liability
If a student withdraws from a course or the program within the first several weeks of a semester or session (measured from the date classes start), the student will be charged an adjusted tuition amount based on a percentage of the original tuition amount and tied to the week in which he/she withdrew from the course and/or program. The tuition liability scales for full or partial withdrawal are listed below for on-campus and online respectively.
On-Campus Graduate Tuition Liability for Withdrawal
Students who withdraw fully from the College or partially from one or more course during the first four weeks of the fall (semester 1), spring (semester 2), or summer (semester 3) terms will be charged an adjusted tuition amount based on the week of withdrawal as follows:
| Week 1 | 0% tuition liability |
| Week 2 | 25% tuition liability |
| Week 3 | 50% tuition liability |
| Week 4 | 75% tuition liability |
| Thereafter | 100% tuition liability |
Housing charges and associated fees are subject to the terms and conditions of the housing contract. For further information, please contact the Office of Housing & Residence Life at (646) 388-8427 or residencelife@limcollege.edu.
Online Graduate Student Tuition Liability Schedule for Each Session:
Session 1 & 2:
Students who withdraw fully from the College or partially from one or more courses during the first three weeks of each session will be charged an adjusted tuition amount based on the week of withdrawal as follows (each week ends at 12:00 p.m. Monday - Eastern Time):
| Week 1 | 0% tuition liability |
| Week 2 | 25% tuition liability |
| Week 3 | 50% tuition liability |
| After Week 3 | 100% tuition liability |
Session 3:
Students who withdraw fully from the College or partially from one or more courses during the first eight weeks of each session will be charged an adjusted tuition amount based on the week of withdrawal as follows (each week ends at 12:00 p.m. Monday - Eastern Time):
| Week 1 | 10% tuition liability |
| Week 2 | 30% tuition liability |
| Week 3 | 50% tuition liability |
| Week 4 | 60% tuition liability |
| Week 5 | 70% tuition liability |
| Week 6 | 75% tuition liability |
| Week 7 | 75% tuition liability |
| Week 8 | 80% tuition liability |
| After Week 8 | 100% tuition liability |
Federal (Title IV) Return of Funds
The U.S. Department of Education requires the return of Title IV funds if a student receives federal assistance and withdraws completely on or before completing 60 percent of the semester. Students have only “earned” the portion of their federal aid that is equal to the percentage of the semester that they have completed. Thus, the percentage of Title IV funds that must be returned to the government is essentially equal to the percentage of the semester that the student has not completed at the time of withdrawal. The order in which Title IV funds are to be returned has been determined by the U.S. Department of Education and is as follows:
1. Federal Direct Unsubsidized Loan
2. Federal Direct PLUS Loan
(Please note: LIM College does not currently offer loans in the Federal Perkins Loan program.)
The U.S. Department of Education has different rules and regulations for each type of aid offered in the Federal Title IV Aid Program. Students who partially withdraw likely will require adjustments to their Federal Title IV Aid. Please consult with the Office of Student Financial Services to determine how your aid may be affected prior to withdrawal from a course(s).