Financial Policies

Student Accounts

PURPOSE

To define the policies that apply to Student Accounts held by the Bursar’s Office for Mitchell College and Thames Academy students.

THE POLICY

A student account is created when the Admissions Office formally accepts a new student and the tuition deposit is received.

PROCEDURE

The student is required to complete a Financial Responsibility Statement, which stipulates the student’s financial responsibilities for the term of enrollment.

Breakage Deposit

All full-time students are required to provide a one-time breakage deposit.  Breakage deposits are held until a student graduates or withdraws, at which time deductions from this deposit will be used to satisfy outstanding damage assessments, fines, parking tickets, or other costs billed to a student account before being refunded to the student.

Student Health Insurance

Mitchell College requires that all full-time students maintain adequate health insurance, either under their own private plan or under the Student Health Insurance Plan sponsored by the College.  A waiver form must be completed by all students who have their own private plan.  If a waiver is not received by the designated due date, the student will be automatically enrolled in the sponsored plan and the annual premium will be charged to the student’s account.

Waivers must be completed online through Mitchell College via Broker Linked Website.

Bookstore Vouchers

Students who have a credit balance may request a Bookstore voucher from the Bursar’s Office.  Vouchers may be used to purchase textbooks and supplies at the Mitchell College Bookstore.

Billings

New students accepted for the subsequent fall semester are required to submit a deposit by May 1st of each year, which becomes non-refundable after May 1st.

Statements are electronically mailed to each student 30 days prior to the due date at their Mitchell College email account.  The fall semester balance is due by July 1st.  The spring semester balance is due by January 1st.

Part-time students are required to pay at the time of registration.

Payment Options

Account payments may be made by cash, check, money order, Amex, Discover, and MasterCard or ACH.  Payments can be made via payment website or mailed to:  Mitchell College, Bursar’s Office, 437 Pequot Avenue, New London, CT, 06320.  Students will be charged a $25 returned check fee if any payment made by check is later returned to Mitchell College by the bank for any reason.

Payment Plans

Mitchell College offers students and their families an optional monthly payment plan to help them pay educational expenses interest-free over a period of several months.  Enrollment in a payment plan requires a non-refundable annual fee of $100.00.  Two payment options are currently offered with plans beginning May 1st or July 1st.

Withdrawal

Tuition and fees are cancelled in full if a student officially withdraws from the College prior to the start of classes.  Please see Refund Policy for details.

Refunds

Enrolled students with a credit balance on their account may be eligible for a refund.  Credits resulting from a Parent Plus loan will be refunded directly to the parent, unless written authorization is received directing the refund to the student.  Refunds will be processed within two weeks from the time the credit is generated on the student’s account.  Checks are mailed to the home address on file unless the student requests to pick up a check in the Bursar’s Office.

Bursar Holds

Students with a past due balance may not register for classes for a future term until all current term charges have been paid in full.  In addition, students will also be prevented from receiving transcripts and/or a diploma until the account has been satisfied. Students will be responsible for all attorney’s fees and other costs necessary for the collection of any unpaid balance.

Refund Policy

Purpose

The intent of our refund policy is to protect the financial interest of the College, a nonprofit institution, to ensure the facilities will be used by students who genuinely seek a college education, to protect the financial rights of the students, and to meet legal requirements.

Full Time and Part Time Students

(Winter and Summer Session students, or Adult Certificate Programs, see below.)

  1. The College’s refund policy will adhere to the following schedule with the exception of Title IV Financial Aid Funding:
    – Before the first day of classes 100% refund
    – Within the first week of classes and before the add/drop period 100% refund
    – By the end of the second week of classes 80% refund
    – By the end of the third week of classes 60% refund
    – By the end of the fourth week of classes 40% refund
    – By the end of the fifth week of classes 25% refund
    – After the end of the fifth week of classes 0% refund
  2. Withdrawal from Mitchell College shall entitle a student to a refund of tuition, room and/or board and learning resource fees (if applicable) based on the above-referenced schedule.
  3. Enrollment period is defined as the first day of classes to the last day of final exams within a semester.
  4. When a student receives Federal Title IV aid and completely withdraws from the college during a semester, the college must calculate the amount of the Title IV that the student earned as of the withdrawal date. Federal Title IV funds include Federal Pell Grants, Federal Direct Stafford Loan, Federal Supplemental Education Opportunity Grant, Federal Perkins Loan, Federal Parent PLUS Loan and other grant or loan assistance authorized by the Title IV of the Higher Education Act, as amended. A Title IV schedule is used to determing the amount of funds a student has earned at the time of withdrawal up through the 60% point in the enrollment period. After the 60% point in the enrollment period, a student has earned 100% of the Title IV funds; therefore, no Title IV funds are returned. Unearned portion of Title IV funds must be returned by the college to the federal government no later than 45 days from the determined date of a student’s withdrawal. Students will be notified of any balance owed to the college as a result of the refund calculation.
  5. If a student was awarded a MVP Scholarship and it has not been earned, the award will be reversed and the amount owed will be the student’s responsibility.
  6. Institutional aid will be calculated using Mitchell College’s refund policy.
  7. All other outside grants and scholarships will be refunded based on the guidelines of the grantors.
  8. Registration fees are not refundable unless Mitchell College cancels a course.
  9. Charges for other fees, such as library fees or parking tickets are not eligible for refund.  Group health insurance is not eligible for pro rata withdrawal credit or tuition withdrawal credit.

Winter and Summer Session Students, or Adult Certificate Programs

  1. Tuition Refund Schedule
    – Before the first day of classes 100%
    – Within the first week of classes 100%
    – After the first week of classes 0%

Tuition Refund Procedure

  1. Refunds are initiated when a student has officially withdrawn from Mitchell College.
  2. The Registrar will determine the last date of attendance for credit purposes.
  3. Students who withdraw from the College before the end of the academic year will have their financial aid adjusted accordingly.

Thames Academy at Mitchell College Student Refund Policy

Purpose

The intent of our refund policy is to protect the financial interest of the College, a nonprofit institution, to insure the facilities will be used by students who genuinely seek to further their education, to protect the financial rights of the students, and to meet legal requirements.

Definitions

Thames Academy Session:

Sessions Number of Weeks Calendar Period
Fall Session 12 End of August – Third week of November
Winter Session 6 Beginning of December – Mid February
Spring Session 12 Mid February – Beginning of May

Policy

a. The College’s refund policy will adhere to the following schedule per session:

Before the first day of classes 100% refund
Within the first week of classes 100% refund
By the end of second week of classes 50% refund
By the end of third week of classes 25% refund
By the end of fourth week of classes 0% refund

b. Enrollment period is defined as the first day of classes to the last day of final exams within a session.

c. The college participates in alternative loan programs. These are private loans that are based on credit worthiness and income. Funds received from these loans will be returned to the borrower according to the schedule above (see item a.).

d. Outside grants and scholarships will be refunded based on the guidelines of the grantors.

e. Any charges for other fees, such as library fees, parking tickets are not eligible for refund. Group health insurance is not eligible for pro rata withdrawal credit or tuition withdrawal credit.

f. Students will be responsible for all attorney fees and other costs necessary for the collection of any unpaid balance.

g. Any remaining balance due Mitchell College must be paid before a transcript is issued.

Procedure

a. Refunds are initiated when a student has officially withdrawn from Thames Academy at Mitchell College.

b. If the college determines that the student did not begin the withdrawal process due to illness, accident, or other circumstances beyond the student’s control, the College may determine the appropriate withdrawal date.

Withdrawal from the College

THE POLICY

In the course of a student’s enrollment at Mitchell, it may become necessary for him or her to discontinue participation in all classes during a given semester and leave the College for the remainder of that term. To ensure that a student does not receive grades of “F” on all courses in progress, it is important to withdraw officially from the College.

A student may officially withdraw from the College anytime during the semester up until Noon on the last full day of classes prior to the start of the Final Exam period. The Bursar’s Office maintains a chart of refund amounts associated with the date of withdrawal. It is the student’s responsibility to understand in advance of the request, the implications (including financial) in withdrawing.

To withdraw officially from the College, a student must meet with an academic advisor. The  purpose of this meeting is not to question the student’s decision but rather to make sure that all options have been explored and that the best possible resolution of the circumstances is achieved.

Once a determination has been made that a withdrawal is the best course for a student to follow, the academic advisor will generate an electronic Withdrawal Form which is sent to necessary campus offices and the student’s faculty. This form officially notifies specific administrative offices that the student will be ending his/her attendance at Mitchell for that semester. This notice will also allow the Registrar’s Office to convert the final grades for all of the student’s courses to “W”.

QUESTIONS?
    800-443-2811 admissions@mitchell.edu Text questions to: 860-821-0730
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