V. Student Financial Services

Financial Aid

Responsible for Maintenance: Director of Financial Aid and Director of Human Resources

Federal, State and University Funds provide four types of financial aid:

• Grants: are need based funds that do not have to be repaid
• Scholarships: are awarded based on grades and other achievements and may or may not be need-based
• Federal Work Study: money is need-based and earned through part-time employment
• Institutional Work Study: earned through part-time employment
• Loans: must be repaid with interest, usually after graduating or withdrawing from college

Inquiries concerning financial assistance and the Federal Work-Study Program should be directed to the Office of Student Financial Aid at (804) 862-6260 or (804) 862-6100.

Inquiries concerning the Institutional Work-Study Program should be directed to the Office of Human Resource Management at (804) 862-6208.

Refunds to Students

Responsible for Maintenance: : Chief Business Officer

A full- or part-time student who withdraws in good standing shall be entitled to a refund of a portion of tuition charges for the semester in which currently enrolled. When refunds are ready, notifications are sent to the students’ RBC email address. All student refunds are processed through our third-party provider Nelnet. Except as otherwise indicated in this Student Handbook or other College policy, a student will be entitled to a refund in the following increments for regular-start fall and spring semester classes:

• 100% of tuition upon withdrawal before the end of the first week of the semester (five consecutive calendar days from the beginning of classes)
• 75% of tuition upon withdrawal after the 7th and through the 14th consecutive calendar day from the beginning of classes
• 50% of tuition upon withdrawal after the 14th and through the 26th consecutive calendar day from the beginning of classes
• No refund of tuition after the 26th consecutive calendar day from the beginning of classes

Tuition, mandatory fees, and all other related college fees paid by students are non-refundable after the 26th day from the beginning of classes except at the discretion of the College. If the College modifies or disrupts programs and services due to circumstances beyond the College’s control, such as acts of God, war, government regulations, pandemics, disaster, or civil disorder – to the extent that such circumstances make it illegal, impossible, or unsafe to allow students to continue with programs or services at or in their initial form-  issuance of any refunds, credits or waivers may be subject to regulatory  or statutory review and will be administered at the College’s discretion.

Federal Title IV Refund/Withdrawal Policy

All students receiving federal student financial aid are subject to the Federal Title IV Refund Policy. Richard Bland College of William & Mary is required by federal law to recalculate federal financial aid eligibility for students who withdraw, drop out, are dismissed or take a leave of absence prior to completing 60% of the term. This includes all unofficial withdrawals from the college. An unofficial withdrawal occurs when students receive a failing mark in all of the classes they attempt and did not attend after the 60% date in a given semester.  In all cases of withdrawals, the Federal Title IV Financial Aid must be recalculated.  For more detailed information about the Federal Title IV Refund/Withdrawal Policy, please visit www.rbc.edu/financial-aid/.

Refunds generated from the excess of financial aid awards will be processed within 14 calendar days from the date of overpayment. All refunds will be sent to the student, unless the overpayment is caused by a Parent Plus Loan. For overpayments in Parent Plus Loans, the refund check is processed in the parent’s name and mailed out to the address on file unless the parent designates the student as the recipient during the loan application process.

Dining Plans

Responsible for Maintenance: :  Chief Business Officer 

Additional Financial Information

Responsible for Maintenance: :  Chief Business Officer and Director

1. Students who register and withdraw from the College prior to the beginning of classes will receive a full refund minus a $50 withdrawal processing fee.
2. No refund of any tuition and fees will be made to a student who has been required to withdraw by the College regardless of the date of withdrawal.
3. Students changing from twelve (12) or more hours to fewer than twelve (12) hours change status from full-time to part-time. When this occurs within the prescribed period allowed for course changes, charges are established at the semester credit hour rate for the course or courses retained. The resulting overpayment of tuition will be refunded. No refund of tuition will be made for a change of status from full-time to part-time occurring after the deadline for course changes, which is published in the academic calendar found here: http://www.rbc.edu/calendar/academic-calendar/.
4. Part-time students who withdraw or who drop one or more courses will be entitled to refunds according to the guidelines above.
5. The actual date of proper notice will be certified by the Records & Registration Office, and refunds, when applicable, will be computed based on the certified date. Refunds are not based on the last day of class attendance.
6. Pro-rata refunds to students attending Richard Bland College who receive Title IV financial aid will be based on Title IV requirements.
7. Withdrawal for medical or legal reasons will follow the same refund schedule as published above.
8. Housing and board (meal) charges will be refunded according to the “Withdrawal/Cancelation” section of the Housing Terms and Conditions (Appendix VII).
9. Additional information on payment options, charge and fee types, current rates, and billing schedules can be found on the Office of Student Accounts website.

Late Fees & Collection Costs

Responsible for Maintenance: Chief Business Officer

Students and families are hereby placed on notice that failure to pay in full at the time goods or services are rendered or when billed will result in the imposition of a $62 late fee. Returned checks will incur a handling fee of $62. If the account is referred for collection to an attorney or to a private collection agency, then the student will be liable for all attorney’s fees or additional collection costs, including monthly interest. Request for or acceptance of goods or services will be deemed to be acceptance of these terms.

To prevent the possible assessment of late payment fees, students must satisfy all calculated charges on, or before, the semester due date or the date a charge is incurred, whichever occurs later. If tuition has not been paid by the established due date, secured with adequate financial aid, or an automatic payment plan is not in place, students will be charged a late payment fee of $50 as prescribed in § 2.2-4805 of the Code of Virginia. Failure to receive a bill does not waive the requirement for payment when due and will not prevent the application of the late fee.

Students who believe they have been erroneously charged a late fee must fill out a Student Request to Waive Late Fee form and submit it to the Cashier’s Office for processing. Late fees will not be waived for the following reasons: lack of funds, a tuition bill was not received, the financial aid process was not complete by the due date, balance changes, or delay of mail services.

Class Drop for Non-payment

Responsible for Maintenance: Chief Business Officer

Depending on the outstanding balance remaining after the due date, a student may be dropped from their courses for non-payment. Communications will be sent to students in advance of being dropped. It is the student’s responsibility to make certain that all permanent, local, and personal email addresses are current in our system. Richard Bland College’s main form of communication for currently enrolled students is through the RBC email address. Failure to review, open, or check the RBC email inbox, spam, or other folders will not prevent classes from being dropped for non-payment.

Student Financial Responsibilities

Responsible for Maintenance: Chief Business Officer

In consideration of Richard Bland College of William & Mary allowing individuals to register for courses, all students are expected to meet their financial obligations. As a member of the campus community, all students are held responsible for and accept the conditions below.

1. All students of Richard Bland College of William & Mary understand and accept the responsibility to:a. Submit full payment of tuition and fees generated from course registration, housing, and dining services.
   b. Submit full payment for any fines, damages, and any other miscellaneous charges incurred on the student account.
   c. Review any electronic billings and pay the College by the due dates stated. Students understand that paper bills may not be sent out and failure to receive a bill does not waive the requirement for payment when due and will not prevent application of the late fee.
   d. Review the MyRBC/Banner account regularly for balances and charges incurred throughout the semester.
   e. Pay a $62 returned-check fee for payments returned by the bank. All returned payments must be repaid in cash to the Cashier’s Office.
   f. Maintain a current mailing address and other contact information on file with the Records & Registration Office. Failure to update information may cause a delay in receiving refund checks.
   g. Acknowledge the RBC email address as the official form of communication and students agree to read email regularly for updates. Failure to review, open, or check the RBC email inbox, spam, or other folders will not waive the application of late fees or class drops caused by missed information.
   h. Submit all financial aid paperwork in a timely manner, including any documents requested during the verification process.
   i. Pay the College any financial aid amounts the student is not eligible for under federal guidelines and the student realizes the financial aid may be adjusted throughout the semester due to ineligibility caused by class drops, official/unofficial withdrawals, etc.
   j. Return or repay any funds owed to the College in the event adjustments or additional charges are posted to the account after a refund has been processed.

2. If a student fails to pay or repay any unpaid balance owed to Richard Bland College of William & Mary, the student agrees that RBC may take such steps as necessary to recover funds owed. The process of collecting the debt may include:

a. Deduction of such debt from any funds due to the student from the College or Commonwealth of Virginia, including wages or financial aid, and any applicable tax refunds via the Virginia Debt Setoff program.
b. Contacting the student by telephone, text messages, emails, and letters at any telephone number, email address, or permanent address associated with the account by RBC employees or agents. Students understand the account may be sent to a collection agency or attorney.
c. Students agree to pay all costs of collections including late fees, additional fees imposed by third party collection agencies or attorney fees (up to 30% of the principal, plus accrued interest), court costs, and/or other charges as necessary to collect any debt.

This agreement shall be governed in all respects by the laws of the Commonwealth of Virginia without regard to conflict of law principles, and any litigation with respect thereto shall be brought in the courts of the Commonwealth, as provided under Virginia law.

Student Employment Opportunities

Responsible for Maintenance: Director of Financial Aid and Director of Human Resources

Student employment opportunities are available through the Federal Work-Study Program and the Institutional Work-Study Program. These programs provide eligible students an opportunity to earn money to help offset their educational-related expenses as well as to gain work experience. Jobs are available in various offices on campus, and students can work between ten (10) and twenty (20) hours per week.  For more information regarding student employment, please visit https://www.rbc.edu/employment/student-employment/.

Unpaid Accounts

Responsible for Maintenance: Chief Business Officer

Transcripts, degrees, or any other information concerning academic records may not be released until College accounts are paid in full. A student’s account is considered delinquent when the payment has not been received by the payment due date. Once an account is considered delinquent, the College is required by the Commonwealth of Virginia to send the account to either a private collection agency or the Attorney General’s Office according to the guidelines established below:

·       All accounts receivable for $3,000 or more that are more than 59 days past due must be forwarded to the Office of Attorney General, Division of Debt Collection for collection.

·       All accounts receivable under $3,000 that are more than 59 days past due must be sent to a private collection agency.

The following actions may be taken on unpaid accounts:

·       Financial Hold: A student will have a financial hold placed on their account and will not be able to register for future classes, obtain transcripts, access your Banner account, etc.

·       Collection Agency: A student’s account will be placed with a collection agency and the student will be responsible for any collection costs incurred.

·       Credit Reporting: A student’s account will be listed by the Credit Bureau as a bad debt.

·       Debt Setoff: If the student is a Virginia resident, the delinquent account can be collected in full from income tax refunds or other refunds due to the student from the state.

·       Attorney General: A student’s account may be turned over to the Virginia Attorney General’s Office Division of Debt Collection (“Division”) for litigation depending upon the outstanding balance due. You will be responsible for all attorney and Division fees, and interest will begin to accrue. The student’s presence in court may be required.

Veterans Affairs

Responsible for Maintenance: Director of Financial Aid

A representative in the Office of Student Financial Aid is available to assist veterans with their Veteran Education Benefits.

This institution is approved to offer GI Bill® educational benefits by the Virginia State Approving Agency.

The Virginia State Approving Agency (SAA), is the approving authority of education and training programs for Virginia. Our office investigates complaints of GI Bill beneficiaries. While most complaints should initially follow the school grievance policy, if the situation cannot be resolved at the school, the beneficiary should contact our office via email saa@dvs.virginia.gov.