Tuition & Finance
November 30, 2022 2022-11-30 20:34Tuition & Finance
FINANCIAL INFORMATION
Withdrawals and Refunds
AUA operates on an academic term basis by which commitments are made to teaching staff and to others whose services are essential to AUA’s operation. The application fee is not refundable under any circumstances. Continuing students, who withdraw from class, or from AUA, are entitled to refunds of both tuition and fees (according to the stated “Refund Schedule”) which will be computed on the basis of the last day of class attendance. However, for more efficient processing of the refund it is recommended that withdrawing students complete and submit the appropriate forms to the Office of Records and Office of Student Accounts. Refunds will be made in a timely manner within 30 days of the determination of the last day of attendance, monitored on a daily basis by AUA administration. Tuition and fees will be refunded to students withdrawing during a regular semester as follows:
Refund Schedule for Continuing Students
| Time of Withdrawal | Percentage of Tuition and Fees Refundable |
|---|---|
| Before Class Starts | 100%/less $75 |
| During 1st week of classes | 75% |
| During 2nd week of classes | 60% |
| During 3rd week of classes | 60% |
| During 4th week of classes | 25% |
| After the 4th week of classes | 0% |
Tuition and fees will be refunded to students withdrawing during a short Winter Intersession/Summer Session as follows:
| Time of Withdrawal | Percentage of Tuition and Fees Refundable |
|---|---|
| Before classes start | 100%/less $75 |
| After one class meeting | 75% |
| After two class meeting | 60% |
| After three class meeting | 60% |
| After four class meeting | 25% |
| After five class meeting | 0% |
On the basis of the €4,450 tuition for 12 to 15 or 12 to 16 (Engineering Science) semester credit hours, refunds are calculated on the remaining registered credit hours below 12.
– Example I: A student who is registered for 15 semester credit hours and withdraws from one three-credit course is not entitled to a refund as the remaining credit hours total 12.
– Example II: A student who is registered for 15 semester credit hours and withdraws from one four-credit course is entitled to a refund for one semester credit hour as the remaining credit hours total 11.
Students who withdraw with an unpaid balance will be financially liable for any amount remaining unpaid after a refund credit has been applied to the balance.
Pro Rata Refund for New Students
A pro rata refund is a refund by the institution to a student attending such institution for the first time, not less than that portion of the tuition (plus fees) equal to the portion of the period of enrolment (for which the student has been charged) that remains on the last day of attendance by the student, rounded downward to the nearest 10% of that period. AUA may subtract a reasonable administrative fee that does not exceed 5% of the registration (plus fees) or €120, whichever is less. (Notice that €120 is 5% of a12-credit undergraduate semester tuition).
