Tuition Refund Schedule
Tuition can be prorated based on the last day of attendance determined by the Registrar. Students dismissed from Otis College for disciplinary reasons forfeit the right to claim tuition/fee refund.
Tuition for students who withdraw from the term or take a leave of absence is adjusted according to the following schedule.
Refund Schedule
90% refund by the end of 1st week of classes
75% refund by the end of 2nd week of classes
50% refund by the end of 3rd week of classes
25% refund by the end of 4th week of classes
0% refund after the 4th week of classes
Students are not eligible for tuition adjustments if they drop/withdraw from a class after the end of the Drop period deadline while remaining enrolled for the term.
Students who withdraw within the refund percentage period are responsible for any outstanding balance remaining after tuition adjustment.
Refund Methods
Otis College of Art and Design delivers your refund with BankMobile Disbursements, a technology solution, powered by BMTX, Inc. Visit this link for more information: https://bankmobiledisbursements.com/refundchoicessso/
*View our third-party servicer contract for refund management.
Special Provision for Books and Supplies
Credit balance created by federal funds is issued to the student by the 7th day of classes if the student meets all federal aid requirements at least 10 days before the start of the semester. The Office of Financial Aid disburses funds for eligible students 7 days before the beginning of semester.
Refund Timeline
- Refunds for a term will not be processed until the term begins. Therefore, no refunds will be issued prior to the start of the term. A refund cannot be processed until there is credit balance on the student account.
- Refunds of credit balances generated by financial aid are sent to the student unless written notification is submitted to Office of Financial Aid requesting the credit balance to remain on the student's account for a future expense.
- Refunds of credit balances are made after all payments have been cleared by the financial institution.
Note: A check payment requires a ten working day waiting period before those funds are cleared.
Tuition Protection Plan
What happens when your student’s education is disrupted by an unexpected injury or illness? Depending on the timing of the withdrawal, you may not be eligible to receive a refund of all of your tuition and fees.
The Tuition Protection Insurance Plan helps students and their families overcome the financial losses that may result from events which force students to withdraw from the semester due to a covered medical reason. Helping families get the most out of your Otis College of Art and Design experience is always our top priority. That’s why we’ve partnered with GradGuard™ to make the Tuition Insurance Plan available to our families.
This coverage strengthens and broadens the scope of our existing refund policy by ensuring reimbursement for tuition, housing and other payments if a student withdraws for any covered medical reason at any time during the semester.
Please remember the deadline to enroll is the day before classes begin each semester.