Refund Policy

The refund policy of Memphis Theological Seminary with regard to educational charges for fall and spring courses is as follows:

Before Add/Drop Week (i.e., the first week of regular weekly classes): 100%

Add/Drop Week (i.e., first week of regular weekly classes): 100%, less drop fee of $55 per course

Withdrawal Period

1st week after Add/Drop week: 80%, less drop fee of $55 per course

2nd and 3rd weeks after Add/Drop week: 60%, less drop fee of $55 per course

4th and 5th weeks after Add/Drop week: 40%, less drop fee of $55 per course

6th and 7th weeks after Add/Drop week: 0%, less drop fee of $55 per course

Medical withdrawals are possible if supported by a physician’s statement.

Refund Policy for January and Summer Intensive Courses

The refund policy of Memphis Theological Seminary with regard to educational charges for January and Summer classes is as follows: At least 30 days prior to beginning of class: 100%, less drop fee of $55 per course
Fewer than 30 days prior to beginning of class: no refund

The VPAA/Dean reserves the right to refund a greater percentage of tuition charged in the case of medical withdrawals supported by a physician’s documentation

Return of Financial Aid Funds Process

The return of financial aid funds policy follows these steps:

1. Financial Aid Office is notified by the Registrar’s Office of a withdrawal or of a student who is not verified by Class Attendance.
2. The Financial Aid Office begins the calculation process online using the worksheet provided by fsapartners.ed.gov, click here to view document
3. Determine the percentage of the enrollment period completed by the student. If the calculated percentage is equal to or greater than 60%, the student has “earned” all aid for the enrollment period and no adjustment in financial aid occurs.

Days Attended ÷ Days in Enrollment Period = Percentage Completed

4. Apply the percentage completed to the Title IV aid awarded to determine the student’s eligibility for financial aid prior to the withdrawal.

Total Aid Disbursed x Percentage Completed = Earned Aid

5. Determine the amount of unearned financial aid to be returned to the appropriate Title IV financial aid program.

Total Disbursed Aid – Earned Aid = Unearned Aid to be Returned

If the aid already disbursed equals the earned aid, no further action is required.
If the aid already disbursed is less than the earned aid, a late disbursement will be made to the student.