Student Academic Progress
Federal regulations (Sections 668.16, 668.32, and 668.34) require that all graduate students who receive Federal Student Aid (includes loans, work-study, and
grants) make satisfactory academic progress (SAP) toward completion of their degree in order to continue receiving Title IV Federal student aid. Federal guidelines require that you make real and measurable progress toward your degree in order to continue to receive federal or state financial aid.
The Satisfactory Academic Progress Policy addresses your academic progress during all your terms of enrollment at ICSW, including summer, whether or not you receive financial aid during the terms. At ICSW, this policy applies to federal, state, and need-based institutional aid, and most forms of institutional merit-based or talent-based aid. Note that institutional aid programs may have specific eligibility or renewal requirements in addition to the minimum requirements of the Satisfactory Academic Progress Policy.
Return Title IV Aid
The Higher Education Amendment of 1998 required schools to implement a Return of Title IV Refund Funds Policy when a Title IV (federal financial aid) recipient withdraws from school. A federal financial aid recipient is defined as a student who has received Title IV funds such as, but no limited to, Federal Pell Grant, Federal Supplement Educational Opportunity Grant, Federal Direct Loans, Federal Perkins Loan, and Federal Direct PLUS Loan. At ICSW, students are only eligible for the Federal Direct Loan and the Federal Direct PLUS Loan.
Credit Balance and Institutional Refunds
Credit balances that are generated by the application of federal student aid or state financial aid are refunded within 7 days. If you have a credit balance resulting from another form of payment, you may call the Office of Student Financial Services at 312-935-4234.
For those applying for financial aid, a paper refund check will be mailed to the current address on file. If a refund is due on another form of payment, the funds will be returned in the format in which they were received.
Students must withdraw from classes through the Director of Academic Administration. Simply ceasing to attend, or notifying the instructor, or nonpayment of tuition, does not constitute an authorized withdrawal from class and will result in academic as well as financial penalty.
When the withdrawal occurs, the tuition charge for courses during a 16-week semester will be reduced according to the following schedule, in accord with the tuition package:
|Week 1||100% refund|
|Week 2||75% refund|
|Week 3|| 50% refund|
|Week 4|| 25% refund|
Withdrawal any time after the 4th week of classes – no tuition refund