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.
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.
Refunds are issued via:
- Direct deposit to the student's bank account.
Note: To sign up for direct deposit for your refund, go to Dashboard and click on My Refunds to set up your Refund Preferences.
- BankMobile Vibe Account
- Hard-copy refund check mailed to the student's domestic mailing address if a student is not signed-up for direct deposit.
Students are encouraged to sign up for direct deposit to minimize the refund delivery timeline.
Special Provision for Books and Supplies
Credit balance created by federal funds will be 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 Student Financial Services disburses funds for eligible students 7 days before the beginning of semester.
• 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 also cannot be processed until there is an ending 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 Student Financial Services 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.
The Otis College contract with BankMobile, a Division of Customer Bank.