"Full Refund of the total direct costs of attendance incurred by such student, and, in that case, Corinthian shall (i) return to the Department any Federal Pell and other Federal grants and Federal student loan funds disbursed to such student, (ii) repay to any private student loan or other lender from whom Corinthian received direct disbursements for such student’s cost of attendance at Corinthian the amount of such disbursements, and shall reimburse the student any origination and other fees, if any, incurred by the student in obtaining such private student loan, and (iii) return any amounts received directly from such student to such student, a “Full Refund.” Corinthian shall provide a bona fide internal appeals process whereby a student can appeal the decision by Corinthian to continue the student in a teach-out rather than permit the student to receive a Full Refund. Corinthian shall provide the Monitor with access to all documents and personnel involved in the appeals process. If a student’s appeal is granted, Corinthian shall withdraw the student from the program and issue the student a Full Refund. In the case that Corinthian is unable or fails to pay the Full Refunds where required, the Department will offset the appropriate amount from Corinthian’s next Title IV aid funding disbursement and apply that amount to the accounts of the affected students. For the avoidance of doubt, the definition of Full Refund shall not require Corinthian to return any amounts pursuant to this Section VI in excess of “direct costs,” or otherwise used by the student to pay indirect expenses. For purposes of this Section VI, “direct costs” shall mean tuition and fees, equipment, books and supplies, and any other costs incurred by the student to the extent such amounts were paid to the school."
6 replies (most recent on top)
August 22, 2014- Cross Lanes OPEID, which includes both Cross Lanes and Eagan.
When and where was this pulled from?
That means if they don't come up with the $, it comes off the top of the following FA funding, further depleting cci's cash.
Yes, it's going to hurt...us. If the payment is taken directly off the top of our incoming financial aid disbursement, what do you think that does to our operating budget (payroll)!
It's one thing to refund tuition, but it's going to hurt paying back the cost of equipment, books and supplies, plus any other costs incurred by the student to the extent such amounts were paid to the school.
* In the case that Corinthian is unable or fails to pay the Full Refunds where required, the Department will offset the appropriate amount from Corinthian’s next Title IV aid funding disbursement and apply that amount to the accounts of the affected students. *