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Financial Aid

FINANCIAL AID

Jim DuggerDirector of Student Financial Services
Phyllis Nettles Torry
(901) 435-1555
Mailing Address
LeMoyne-Owen College
807 Walker Avenue
Memphis, TN 38126

Telephone/Email Contact
(901) 435-1575
admission@loc.edu
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807 Walker Ave
Memphis TN 38126
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Home » Financial Aid Home » Tuition and Fees

BASIC CHARGES FOR 2013-14
Tuition and Fees

Most LeMoyne-Owen students pay tuition costs with Federal, State and LeMoyne-Owen College assistance programs. Ninety-seven percent of LeMoyne-Owen students receive financial aid. Fees and charges may change periodically, therefore the listing of any fee or charge in this publication does not constitute a contract between the College and the student. Students must pay the fees in effect at the time they register.

Tuition*                                                        Semester                    Year

Full-time (12-17 credit hours)                       $5,230                         $10,460
(Per semester credit hour)                           $436
ADCP Fee                                                      $75

(Per semester credit hour)**                         Part-time (less than 12 credit hours)
Overload (More than 17 credit hours)               
Audit Fee (Per Course)***                              $436
Student Activity Fee                                     $100                             $200
Student Health Care Fee (not for ADCP        $10                                 $20
students)

Dormitories                                                   $1271                          $2542

Meals                                                              $1155                         $2310

*The tuition fee includes science and computer laboratory fees.
**This rate also applies to summer academic terms and to courses offered outside the regular semester schedule.
***Registration to audit a particular course may be denied because of class size.
****A room reservation fee of $100 is required to hold a room. This payment is applied to the room bill. In addition, a security deposit of $100 is required. Other room charges are: key deposit $15, key replacement $50.


PAYMENT OF FEES
All fees are payable at the time of registration by cash, cashier's check, money order, or with MasterCard or Visa credit cards. However, by signing a promissory note, a student must pay 50% of the total due at registration and the remainder in equal parts according to this schedule:

____ Fall semester: 25% by October 25, 25% by November 15
____ Spring semester: 25% by February 14, 25% by March 14
____ Summer term I: 50% by first day of class
____ Summer term II: 50% by first day of class

Students with current semester charge of $500 or less at time of validation process may register in current semester with a signed promissary note to pay current semester charges by the end of the current semester.

Return of Title IV (Financial Aid)
Funds/ Institutional Refund Policy

Federal regulations require each educational institution to have a written policy for the refund and repayment of aid received by students who withdraw from all classes during a term for which aid has been approved. These policies are effective if the student completely terminates enrollment (e.g., voluntarily withdraws from all courses or is dismissed from all classes.) Also, the Return of Title IV policies will be executed if the student ceases enrollment (unofficial withdrawal) in all of their classes without officially withdrawing from the college.      

Definitions

The term “Title IV funds” refers to the Federal Financial Aid programs authorized under the Higher Education Act of 1965 (as amended) and includes the following programs:

  • Federal Pell Grant Program
  • Federal Supplemental Educational Opportunity Grant (SEOG)
  • Federal Subsidized/Unsubsidized Family Federal Education Loan (FFEL)
  • Federal Plus Loan

 

The calculation of the return of Title IV funds (and state funds if applicable) is determined by the date that the student withdrew from all classes. A student’s withdrawal date is determined by:

  • The date the student officially notifies the institution of his/her intent to withdraw; or,
  • The student’s last day of recorded class attendance or at an academically-related activity; or
  • The midpoint of the enrollment period for students who leave without notifying the institution (an unofficial withdrawal).


Earned Federal Aid

Federal law requires that, when you withdraw from all your classes during the enrollment period, the amount of financial aid assistance that you have “earned” up to that point is determined by a specific formula.

The enrollment period for a program measured in credit hours is one semester; an enrollment period for a program measured in clock hours is the total number of clock hours in the program of study.

 

If a recipient of Title IV grant or loan funds withdraws from a school after beginning attendance, the amount of Title IV grant or loan assistance earned by the student must be determined. If the amount disbursed to the student is greater than the amount the student earned, the unearned funds must be returned. If the amount disbursed to the student is less than the amount the student earned, and for which the student is otherwise eligible, he or she is eligible to receive a post-withdrawal disbursement of the earned aid that was not received.

 

The amount of financial aid that you have earned is determined on a pro-rata basis. That is, if you withdraw after completing 40 percent of the enrollment period, you have earned 40 percent of the amount of federal aid for which you were entitled. The school takes all or a portion of your earned federal financial aid (except Federal Work-Study earnings if applicable) to pay any outstanding charges that remain on your school account.

 

Once you have completed more than 60 percent of the enrollment period, you earn all of your financial aid assistance for which you were entitled.

 

Withdrawing from the College (Dropping All Classes):

The withdrawal process begins in the Records Office.  The student picks up the withdrawal form from Records.  The student obtains the necessary signatures on the form.  The student returns the completed form to the Records Office. 

 

The student is then considered to have officially withdrawn from the college.  Students who receive Title IV aid must complete at least 60% of the semester to earn 100% of their aid. (Title IV aid is defined as Federal Pell Grant, Federal SEOG, or Federal Direct Loans).  

 

If you officially withdraw before completing 60% of the term, LOC must perform a required Federal Return to Title IV Funds Calculation (Return Calculation). Any tuition credits given by the college will be applied towards the student account balance created by the Return Calculation.

 

Anytime a Return Calculation is performed, you will most likely owe a balance to the college. We recommend that you contact the Financial Aid Office before withdrawing.

 

Listed below are some areas that are affected by withdrawing from all classes:

 

  • Federal Student Loans:

 

Your loan servicer will be notified that you are no longer enrolled and your six (6) month grace period for loan repayment will begin on the date of your withdrawal. You will be sent an email requesting that you complete Exit Counseling.

 

  • Financial Aid Satisfactory Academic Progress:

 

Financial Aid Probation: If you are on Financial Aid Probation, dropping courses may result in you being suspended from receiving future financial aid. The terms of your Financial Aid Probation state that you must pass 70% of your attempted hours each semester, including all courses dropped with a grade of  “WD”, “WA”, or “WF”. The Financial Aid Office considers a course is “passed” as long as you earn a grade of ‘D’ or better.

 

Financial Aid Suspension: Students who are on Financial Aid Suspension are not eligible to receive financial aid. However, as long as they are making Academic Progress based on their GPA (monitored by the Registrar’s Office), they may enroll in courses at their own expense. To receive Financial Aid in the future, you will need to either:

 

A) Take classes at your own expense until you meet the required 70% overall combined pass rate or;
B) If you had extenuating circumstances as to why you have fallen below the 70%, you can appeal your suspension. For more information regarding the appeal’s process, refer to the LOC Academic Catalog at www.loc.edu

 

  • Tennessee Education Lottery Scholarship: 

 

First time freshmen who withdraw from the college before the census date will have their Lottery Scholarship(s) cancelled for that semester and will owe LOC. However, students will not lose future eligibility for the Lottery Scholarship(s) if they re-enroll within 16 months from their high school graduation date.


Continuing or transfer students who withdraw from the college before the census date of a semester will have their Lottery Scholarship(s) cancelled and lose future eligibility for their Lottery Scholarship(s) because you have not maintained continuous enrollment.

 

Refer to the LOC Tennessee Education Lottery Scholarship page for further information regarding keeping your TN Lottery Scholarship(s).

 

Time frame for the return of Title IV funds
A school must return unearned funds for which it is responsible as soon as possible but no later than 45 days from the determination of a student’s withdrawal.


A school will be considered to have returned funds timely if the school does one of the following as soon as possible but no later than 45 days after the date it determines that the student withdrew:

  • deposits or transfers the funds into the school’s federal funds bank account, and then awards and disburses the funds to another eligible student;
  • returns the funds to the Department electronically using the “Refund” function in G5; or
  • issue a check to the Department.

 

A school is considered to have issued a check timely if the school’s records show that the check was issued within 45 days of the date the school determined that the student withdrew and the date on the cancelled check shows that the bank endorsed that check no more than 60 days after the date the school determined that the student withdrew.


Return of Funds Allocation

A school must return Title IV funds to the programs from which the student received aid during the payment period or period of enrollment as applicable.  In accordance with Federal regulations, financial aid funds are returned in the following order if applicable:

  1. Unsubsidized FFEL
  1. Subsidized FFEL
  1. Federal Pell Grant
  1. Federal SEOG
  1. Other Title IV programs
  1. Other state, private and institution aid
  1. The student

Institutional and Student Responsibilities

Responsibilities in regard to the return of Title IV/state funds include:

 

  • Provide each student with the information given in this policy
  • Identify students who are affected by this policy and complete the Return of Title IV and/or state funds calculation in accordance with federal and state regulations
  • Return any Title IV funds and state funds to the appropriate program(s)
  • The student’s responsibilities in regard to the return of Title IV/state funds include possible repayment of federal funds

 

Return to the Title IV programs any funds that were disbursed directly to the student and which the student was determined not to have earned in accordance with federal and state regulations


REFUNDS

Full-time students, whose course load falls below 12 credit hours because courses are cancelled by the College, or because they formally drop courses before the end of the drop period, become part-time students. Students who become part-time may lose support from certain financial aid programs. If the College cancels the course, the student will be refunded the appropriate portion of his/her tuition.

If a student has attended classes through the last day to validate which is typically the 14th class day of the semester, the full semester's tuition is due and payable to the College regardless of the class drop date or date of withdrawal unless the student withdraws due to protracted illness or injury.

If the illness or injury prevents the completion of the semester's academic work, as certified by a physician, a pro-rata refund will be issued on the following basis:

Official Withdrawal Date Percentage of Tuition Refunded Because of illness or injury

By end of first week of class 100%
By end of second week of class 75%
By end of third week of class 50%
By end of fourth week of class 25%
After fourth week of class 0%

A semester's activity fee cannot be refunded in whole or part. There are no pro-rata refunds of a semester's room and board fees.

Federal Title IV funds will be returned to the federal agency based on the federal pro-rata refund calculation. After the Census Date (last day to validate), which is typically the 10th class day of the semester, the full semester's tuition is due.

 

Federal Return of Title IV Funds Calculation (known as the Return Calculation):

The Return Calculation is based on the premise that students “earn” federal financial aid for each calendar day that they attend classes. For example, if a student withdraws after completing 20% of the term, then the student earns 20% of accepted federal financial aid for which eligibility was established prior to withdrawing.

 

Steps to Calculating a Return Calculation:

Many variables are used in the calculation inclusive of attendance, length of time enrolled, date of withdrawal, sources and amounts of federal aid, institutional charges, etc. Contact the Financial Aid Office for an estimated amount that you may owe back to LOC. A balance on your account will place a hold on all academic transcripts and registration.

 

Listed below are the steps used by the Financial Aid Office when performing a Return Calculation:

 

Step 1:

 

Determine the percentage of the semester you attended before withdrawing:  Start with the first day of the semester and count the number days (including weekends) up to the withdrawal date. This number is your numerator.


Start with the first day of the semester and count the number of days (including weekends but excluding breaks of 5 days or more) up through final exams. This number is your denominator.


Divide the number of days attended by the number of days in the semester. If the percentage is less than 60.05%, this is the percentage of aid earned. If the percentage is equal to or greater than 60.05%, you earned 100% of your aid.

 

Example:
Spring Semester
Classes start: January 12 - Exams End: May 3
Withdrawal date = February 1
Number of days attended (counting weekends) = 21 days (numerator)
Number of calendar days in semester minus scheduled breaks of 5 or more days = 108 days (total days of 113 minus 5 days for Spring Break) (denominator)
21/108 = .1944 or 19%


This percentage is the amount of earned aid.

Step 2:

Determine the amount of federal aid earned by multiplying the total federal aid disbursed or could have been disbursed by the percentage of aid earned calculated in Step 1.

 

Step 3:

 

Compare the amount earned to the amount actually disbursed prior to withdrawing. If more aid was disbursed than was earned, determine the amount of aid that must be returned. If less aid was disbursed than was earned, the student may be eligible for a post-withdrawal disbursement for the difference.

Step 4:

Determine how much the school must return plus the amount the student must return. The amount of unearned aid that must be returned by LOC is the lesser amount of unearned Title IV aid or the amount of unearned charges for the term. The student is responsible for repaying any amount the school must return which creates a debt to LOC.

Step 5:

Return aid in the following order:
1. Federal Unsubsidized Direct Stafford Loan
2. Federal Subsidized Direct Stafford Loan 
3. Federal Direct Parent PLUS Loan
4. Federal Pell Grant
5. Federal Supplemental Educational Opportunity Grant
6. Other Title IV Programs

 

 



OTHER FEES AND CHARGES

Admissions application fee - effective spring semester 2001 $ 25.00
Drop/add fee (per course) $ 10.00
Late registration fee* $ 75.00
Academic transcript fee** $ 5.00
Degree replacement fee $ 25.00
ID replacement fee $ 10.00
Returned check fee $ 25.00
Parking fee $ 20.00
Graduation fee (graduating seniors only-caps/gowns and related expenses) $125.00
Late graduation fee*** $ 25.00
Education majors, special fees
PPST test processing fee $ 60.00
Student teaching fee - per semester
(for students in EDUC 409, 415 and 426) $100.00

*Students who do not complete registration in the formal registration period will be charged this fee for late registration.
**There is no fee for the first two transcripts requested. Each additional transcript is $5.00.
***Graduating seniors who pay their graduation fee after December 19, will be charged this late fee.