Financial Policies

 

The University is committed to doing everything possible to help eligible students meet their financial needs. Major responsibility for securing the necessary financial resources rests with the student. In some cases, assistance can be expected and should be sought from the home, church, support of family and friends, summer savings, and work funds.

Enrollment Agreement

An enrollment agreement must be signed for the entire program enrolled. It is the policy of the University to collect all tuition and other fees from a student before he or she starts the course. A tuition payment plan may be developed to assist students who need to pay on an installment plan.

Financial Suspension

A student may be suspended from the University for failure to pay the tuition and fees as agreed to in the enrollment agreement or payment plan. A student may be administratively withdrawn from the University for failure make any payment within 60 days.

Form of Payment

Students may use electronic funds transfer, credit card, personal or business checks, cashier’s check or money order. Returned checks are subject to $25 “returned check” fee. To make a payment, click here.

Late Payments

Late payments are subject to a $25 late payment fee. Two consecutive late payments will make a student ineligible for payment plans. Five late payments total will make a student ineligible for payment plans.

Payment

All students pay a per-credit-hour rate based on how many course credits they take may each term. It is the policy of the University to collect all tuition and other fees from a student at the time of registration.

Payment Plans

Payment plans are available for full-time enrolled students. Two consecutive late payments will make a student ineligible for payment plans. Five late payments total will make a student ineligible for payment plans.

Pro Rata Refund Calculation Policy - General

The refund policy for students who have completed 60 percent or less of the period of attendance shall be a pro rata refund. Under this policy, the minimum refund allowed shall be as follows:

Class Scheduled Percentage of Class ScheduledProRate Rate
112.50%100.00%
225.00%87.50%
337.50%75.00%
450.00%62.50%
562.50%50.00%
675.00%0.00%
787.50%0.00%
8100.00%0.00%

Refund Example - General

Undergraduate Example

  • The non-refundable Application for Admissions Fee costs $75, while a 3-unit undergraduate course costs $600.
  • The student paid $75 for the non-refundable Application for Admissions Fee, plus $600 for the course. Therefore, the student paid $675 total to IAU.
  • The 3-unit course spans 8 Lessons/weeks. The student attends 2 weeks and withdraws during the 2nd week.
  • The student is entitled to a pro rata refund of 80% of his/her $600 tuition paid, which is $480.

Graduate Example

  • The non-refundable Application for Admissions Fee costs $75, while a 3-unit graduate course costs $1,200.
  • The student paid $75 for the non-refundable Application for Admissions Fee, plus $1,200 for the course. Therefore, the student paid $1,275 total to IAU.
  • The 3-unit course spans 8 Lessons/weeks. The student attends 4 weeks and withdraws during the 4th week.
  • The student is entitled to a pro rata refund of 50% of his/her $1,200 tuition paid, which is $600.

Student Tuition Recovery Fund (STRF)


“The State of California established the Student Tuition Recovery Fund (STRF) to relieve or mitigate economic loss suffered by a student in an educational program at a qualifying institution, who is or was a California resident while enrolled, or was enrolled in a residency program, if the student enrolled in the institution, prepaid tuition, and suffered an economic loss. Unless relieved of the obligation to do so, you must pay the state-imposed assessment for the STRF, or it must be paid on your behalf, if you are a student in an educational program, who is a California resident, or are enrolled in a residency program, and prepay all or part of your tuition. You are not eligible for protection from the STRF and you are not required to pay the STRF assessment, if you are not a California resident, or are not enrolled in a residency program.”

“It is important that you keep copies of your enrollment agreement, financial aid documents, receipts, or any other information that documents the amount paid to the school. Questions regarding the STRF may be directed to the Bureau for Private Postsecondary Education, 2535 Capitol Oaks Drive, Suite 400, Sacramento, CA 95833(916) 431-6959 or (888) 370-7589. To be eligible for STRF, you must be a California resident or enrolled in a residency program, prepaid tuition, paid or deemed to have paid the STRF assessment, and suffered an economic loss as a result of any of the following:

  1. The institution, a location of the institution, or an educational program offered by the institution was closed or discontinued, and you did not choose to participate in a teach-out plan approved by the Bureau or did not complete a chosen teach-out plan approved by the Bureau.
  2. You were enrolled at an institution or a location of the institution within the 120 day period before the closure of the institution or location of the institution, or were enrolled in an educational program within the 120 day period before the program was discontinued.
  3. You were enrolled at an institution or a location of the institution more than 120 days before the closure of the institution or location of the institution, in an educational program offered by the institution as to which the Bureau determined there was a significant decline in the quality or value of the program more than 120 days before closure.
  4. The institution has been ordered to pay a refund by the Bureau but has failed to do so.
  5. The institution has failed to pay or reimburse loan proceeds under a federal student loan program as required by law, or has failed to pay or reimburse proceeds received by the institution in excess of tuition and other costs.
  6. You have been awarded restitution, a refund, or other monetary award by an arbitrator or court, based on a violation of this chapter by an institution or representative of an institution, but have been unable to collect the award from the institution.
  7. You sought legal counsel that resulted in the cancellation of one or more of your student loans and have an invoice for services rendered and evidence of the cancellation of the student loan or loans.

To qualify for STRF reimbursement, the application must be received within four (4) years from the date of the action or event that made the student eligible for recovery from STRF. A student whose loan is revived by a loan holder or debt collector after a period of noncollection may, at any time, file a written application for recovery from STRF for the debt that would have otherwise been eligible for recovery. If it has been more than four (4) years since the action or event that made the student eligible, the student must have filed a written application for recovery within the original four (4) year period, unless the period has been extended by another act of law. However, no claim can be paid to any student without a social security number or a taxpayer identification number.”