Union Theological Seminary Financial Aid

Financial Aid

Withdrawal and Adjustment of Fees

A student intending to withdraw is still financially responsible to the school, and is considered registered until the date on which written notice of withdrawal is received by the Registrar.  Special fees, the student activity fee, and the health insurance fees are not refundable at any time.  However, tuition charges may be partially refundable as follows:

    • A student withdrawing before classes will be refunded 100 percent of the tuition paid to the Seminary, minus a withdrawal fee of $50
    • A student withdrawing after classes have begun may withdraw and, after deduction of the withdrawal fee, will be refunded partial tuition in accordance with the following pro rata schedule:

If withdrawal occurs:

    • In the 1st week of classes, 90 % of the remaining tuition will be refunded
    • In the 2nd week of classes, 80% of the remaining tuition will be refunded
    • In the 3rd week of classes, 70% of the remaining tuition will be refunded
    • In the 4th week of classes, 60% of the remaining tuition will be refunded
    • In the 5th or 6th week of classes, 50% of the remaining tuition will be refunded
    • In the 7th week of classes, 40% of the remaining tuition will be refunded.
    • After the 7th week of classes, no refunds will be made.  In addition, the refund schedule applies to on-campus housing charges.

Withdrawal from the Seminary also has financial aid implications. The amount actually refunded will likely be reduced by the amount of grants or loans provided by the Seminary or other sources.

Title IV financial aid funds are awarded under the presumption that you will attend the Seminary for the entire period in which the funds were awarded. If you withdraw, you may be ineligible for the full amount of Title IV funds you were scheduled to receive. The amount of federal financial aid you have earned is calculated at the time you withdraw from the Seminary in accordance with federal law and regulations. You and/or the Seminary must return any unearned federal financial aid to be returned to the federal government. However, if you received less federal aid than the amount that was earned, you may be able to receive those additional funds as Post-withdrawal disbursement.

The equation to calculate a return of federal financial aid is as follows:

The Percent of Title IV aid earned = Number of Days Attended/Number of days in term

The amount of federal financial aid you may have earned, and therefore are eligible to keep, is determined on a prorata basis. Once you have earned more than 60% of the payment period or period of enrollment, you have earned all the federal financial aid received or scheduled to be received for that period.

If you are eligible for a post-withdrawal disbursement, you will be notified within 30 days of the date you withdraw from the Seminary. You need not grant the Seminary permission to disburse the post-withdrawal disbursement – you may choose to decline some or all of the loan funds so that you don’t incur additional debt. The Seminary is required by law to refund you earned credit balances within 14 days from the date the earned aid was determined.

Any calculated over-award will be returned to the appropriate aid program(s) in the following order:

  • Unsubsidized Direct Loans
  • Federal Perkins Loans, Grad PLUS Direct Loans
  • Union grants, scholarships, and fellowships
  • Union Loans

You must return any unearned portion of Financial Aid that was disbursed to you to the Seminary. If the return of unearned federal funds results in a debit to your student account, you will be responsible for the outstanding balance owed to the Seminary.

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