Payment in full or enrollment in a payment plan for the semester’s balance is due prior to or on the first day of class with the completed promissory note. The University’s payment plan option requires a 25% initial payment of the semester’s balance with a one-time plan fee per semester of 15% of the outstanding balance if payments are not made.
We offer a payment alternative through Tuition Management Services (TMS). Sign up forms is available in the Business Office and the Financial Aid Office. Students may also sign up with TMS through the internet at www.afford.com. Using TMS allows students to make monthly payments without being charged interest. There is an enrollment fee of $60 with TMS for their service.
Unless payment in full is made by the first day of the semester, a student’s registration may be canceled.
Students should be prepared to pay for textbooks and supplies at the time of purchase. The University Bookstore accepts MasterCard, VISA, and Discover Card.
Refunds will be given after the add/drop period of classes. Students need to stop in the Business Office to pick up their refund if applicable or they will be mailed to the home address on file.
Withdrawal from University and Refunds of Credit Balances
Please refer to the following Drop/Withdrawal scenarios concerning Federal-State Financial Aid policies.
Federal/State Policies Concerning Changes of Registration
A student who withdraws from all courses in an “A term” but who intends on returning for courses in the “B term” must provide in writing at the time of their withdrawal, a statement of intent to enroll for that “B Term.” If notification is not received, complete withdrawal adjustments may be made to their financial aid.
Calculation scenarios and formulas:
- If a student is enrolled in either A or B only: Tuition and financial aid are calculated by dividing the days attended by the total days in the term (up to a maximum of 60% of the term).
- If a student is enrolled in A and B and drops B registrations prior to the end of A: Tuition and financial aid are recalculated for the number of remaining credits enrolled.
- If a student is enrolled in Session A and B and drops B registration between sessions: Tuition and financial aid are calculated by dividing the total days in A & B by the days attended in A to calculate the percentage completed; tuition will not be charged for the B courses dropped.
- If a student in enrolled in A & B and drops B courses during the B drop period: Tuition and financial aid are calculated by dividing the total days in A & B by the total days attended in A & B to calculate the percentage completed; tuition will not be charged for the B courses dropped.
- If a student is enrolled in A & B and withdraws from courses during B: Tuition and financial aid are calculated by dividing the total days in A & B by the days attended in A & B to calculate the percentage completed. Full tuition and aid will remain in place if the withdrawal occurs beyond 60% of the B term.
- All financial obligations to the University must be paid in full or satisfactory payment arrangements made with the Business Office before a student may register for a new term.
- Statements are sent to the student’s permanent address unless otherwise requested.
- Services of the University, including but not restricted to grades, diploma, certificate, transcript, letter of honorable dismissal, or recommendation may be withheld from students who have an outstanding balance with the University
- Iowa Wesleyan University reserves the right to deny students the privilege of participating in commencement ceremonies whenever the student’s account is not paid in full.
General Regulations Governing Refunds
- Refunds will be available after the account is paid in full, if there is a credit on the account.
- Refunds will be made the week after the add/drop date.
- Any credit balance associated with a payment that has been made by personal check will be delayed until the check used for payment has cleared the bank. Normally 10 business days will be allowed for such clearance.
- Requests for refund of deposits are to be made to the Admissions Office.