Financial Responsibility

REGISTRATION PAYMENT POLICY

Students are expected to pay bills in a timely manner. Such financial integrity is expected of Christian leaders and must be demonstrated in order to be enrolled as a student at Central.

A student cannot attend classes unless the student's bill is paid in full with these exceptions:

1.  If a student has completed the process for federal financial aid, the College will require only that the student pay the obligation that will remain after application of this aid and the full-tuition scholarship, if applicable. Completion of the federal financial aid process includes completing all forms required to receive the aid, including, but not limited to, the FAFSA (Free Application for Federal Student Aid), tax transcripts, and loan documents (if applicable). Completion also means satisfying the requirements of verification, if selected.

2.  The College may consider non-federal awards (from churches, service clubs, or other promised awards) and decrease the payment required prior to attending classes by the amount of such awards only if the College receives written notice stating:

  1.  The award name and sponsor
  2. Award amount
  3. When the award will be disbursed
  4. That there are no restrictions in the student receiving such award other than enrolling at the College.

The student retains the obligation to pay all fees as listed on the charge sheet even when it is anticipated that federal or non-federal awards, grants, scholarships and/or loans ("financial aid") shall cover all or a portion of the fees. If any financial aid does not come to fruition for any reason, the College shall inform the student in writing.

The student shall have seven days from the date of this notification to pay the remaining obligation. Nonpayment within those seven days will result in the student's immediate withdrawal from the College.

REFUND POLICY

No refunds on any fees or charges will be given to students who are dismissed or who officially withdraw from all or a portion of their classes or programs. There are only a few exceptions to this policy:

  1. If a student has received orders to report for Active Duty in the Military, the student must present a copy of their military orders to the Chief Financial Officer for verification.
  2.  If a student becomes unable to attend school due to a medical condition, the student must present a written medical release from attending classes from his/her doctor. This release must be presented to the Chief Financial Officer for verification.
  3.  If a student's immediate family has an emergency because of major illness, death, or other family loss which would cause undue hardship for the family if the student did not return home, that student may be considered for a refund. A written request must be submitted by the student's parent or guardian and the student explaining the situation and requesting to be excused from further class attendance.

Approved exceptions will be refunded based on the date of approval.

  1. First week of class - 90% refund of semester fees paid.
  2. Second week of class to the end of the semester - The refund is prorated for the actual time the student was in class at Central.

FEDERAL RETURN OF FUNDS POLICY

The U.S. Department of Education has developed software for colleges to calculate the return of Title IV funds. Central will use this software to calculate the appropriate return of funds for students who officially withdraw from all classes and have received Federal Title IV financial aid for the current semester of enrollment. Central will provide upon request a printout of the calculation formula generated by the software.

In many instances, students whose accounts were "paid in full" at the beginning of the semester may end up owing Central after withdrawing due to the differences in the General Refund Policy of Central and the Federal Return of Funds Policy. Other students who have received federal grant funds to pay for non-institutional costs may end up owing repayments to both Central and the federal government.

PREPAYMENT/DEPOSIT REQUIRED 

Returning students have until June 30th to complete their schedule, confirm their Residence Hall status, and pay a nonrefundable deposit either through personal funds, financial aid, or other verified funding sources.  Those who have not completed the process by June 30th will be charged an incomplete process fee.  Returning students who will be attending classes during the spring semester have until the last day of the fall semester to complete their schedule, confirm their Residence Hall status, and pay a nonrefundable deposit or be charged the incomplete process fee. 

New/Reactivating students have until August 1st or December 1st, whichever applies, to submit their preregistration and housing forms, have their final high school/college transcripts received by the Admissions Office, and pay a nonrefundable deposit either through personal funds, financial aid, or other verified funding sources.  Those who have not completed the process by due dates will be charged an incomplete process fee. 

In order to have paid your deposit with your Federal Financial Aid, the following things need to have been completed. 

  1. For Returning Students, your FAFSA must be completed before the June 30th  deadline.
  2. For  New Students, your FAFSA must have be completed before the August 1st  or December 1st deadline, whichever applies
  3. If selected for verification, all requested documentation is in the FAO by June 30th(or August 1st or December 1st for new students) of each academic year.
  4. You qualify for some type of aid and have completed the necessary paperwork so it may be processed.  This may include, but is not limited to these things:
    1. Pell Grant
    2. Student Loans
    3. Other Federal Aid      

Students may have been awarded scholarships from organizations that they would like to use as their deposit.  If the Financial Aid Office has  written confirmation of the scholarship from the organization, and that the scholarship monies will be sent directly to the school, the Financial Aid Office will accept this as pending aid as well. 

Students may have the Full-Tuition Scholarship listed on the Award Letter or on the portal information.  However, the Full-Tuition Scholarship by itself does not meet the prepayment/deposit policy’s criteria.