Tuition Policies

Tuition Policy on Failed Courses

Students failing any course in any trimester will be required to repeat that course and will be charged the full rate of tuition for the remedial trimester. Questions relating to this policy should be directed to the Office of Student Affairs.

Tuition Refund Policy for Withdrawals

A withdrawal occurs when a student's enrollment is permanently discontinued or, in some cases, even temporarily interrupted (see Note below). A withdrawal may be official (when the student notifies the dean in writing) or unofficial (without written notification). The effective date of withdrawal is normally the student's last date of attendance.

·           If a student withdraws, ISMS university's handling of tuition and charges corresponds with federal loan entitlement regulations, which are based on the period attended.

·           If a new student withdraws prior to the start of the first trimester, no tuition charges are due.

·           If a continuing student withdraws prior to the start of a trimester, no tuition/charges are due.

·           If a student withdraws during the first 60% of a Trimester, tuition/charges are directly prorated based on the portion of the trimester that has elapsed (since trimesters are normally 16 weeks in length, tuition is prorated for withdrawals during weeks 1 through 9.)

·           If a student withdraws after the first 60% (i.e., after completing the 9th week) of a trimester, full tuition/charges remain due.

 

For withdrawal during the first 60% of a trimester, student loan entitlement is recalculated, and ISMS and the student are each proportionally responsible for returning "unearned" Stafford Loan Funds to lenders. In addition to the lender returns required by federal regulations, ISMS returns any remaining credit balance to lenders, which decreases the student's loan debt for that trimester.

Late Payments: Fees are due forty - five days prior to commencement of the enrolled program. If fees are not paid on time, deregistration may occur. A $250 penalty will be applied upon reinstatement. Returning students are required to pay tuition fees one month prior to the beginning of the semester or else a $250 late payment fee will be charged.

Note: Although a leave of absence may be authorized in limited circumstances, failure to return to the University from a leave of absence is considered a withdrawal as of the last date of attendance. Please note that a leave of absence and an academic leave of absence are two different statuses. Additionally, under federal regulations, a leave of absence must be requested and approved in advance, may not exceed 180 days, and may not be granted within 12 months of a previous leave of absence. An interruption of enrollment status that does not qualify as a leave of absence is considered a withdrawal as of the last date of attendance.