Policies on Financial Assistance and Refunds
Financial Assistance Programs
Although distance learning is cheaper compared to campus-based learning, it still subjects students to pay for tuition and other miscellaneous fees. Some prospective students may find such fees a bit burdensome, particularly if they do not fit in with their current financial condition.
Due to this, there are prospective students who sought for financial aid opportunities that will allow them to complete their desired courses without problems. In such situation, distance learning providers are expected to provide sufficient information about the financial aid programs they offer. Information should include:
- Application procedures
- Eligibility requirements
- Documentary requirements
- In case loans are being offered, information such as interest rate, maximum amount that can be loaned, and payment policies should be provided to interested students.
There are cases when students can no longer pursue the distance learning course they have chosen and would ask providers for a refund. In these situations, distance learning providers should have clear refund policies in place to avoid problems from arising. Here are a few general guidelines providers should follow:
- Refund policies should be definite. It should indicate the circumstances when full or partial refunds are given or if the provider operates a strict no refunds policy.
- Refund policies should be publicized and made known through course prospectus or the terms and conditions. This will allow potential enrollees to thoroughly review the policies prior to enrollment.
- Strictly implement the policy. However, it also pays to make room for exceptions, particularly for reasons that are beyond the students’ control such as financial loss, injury, illness, and bereavement, among others.