Tuition Proration and Refunds

Tuition charges are prorated based on the last day of attendance determined by the Registrar. Students dismissed from Otis College for disciplinary reasons forfeit the right to claim tuition/fee refund. Tuition for students who withdraw or take a leave of absence is adjusted according to the following schedule.

Tuition Proration and Refund Schedule

  • 90% refund by the end of 1st week of classes
  • 75% refund by the end of 2nd week of classes
  • 50% refund by the end of 3rd week of classes
  • 25% refund by the end of 4th week of classes
  • 0% refund after the 4th week of classes

Students who withdraw within the refund percentage period are responsible for any outstanding balance remaining after tuition adjustment.

Refund of Credit Balance

Office of Financial Aid processes refunds of credit balances on student accounts after the end of the Add period if all payments have been cleared.

Note: Paper and electronic checks take approximately 10 days to clear by the payee’s financial institution. Credit card, cashier’s check, money order, or cash payments are cleared immediately.

Refund Methods 

Otis College of Art and Design delivers your refund with BankMobile Disbursements, a technology solution, powered by BMTX, Inc. Visit for more information.

Financial Aid Refunds 

  • Financial aid is disbursed (credited) to the student's account when all required financial aid paperwork is complete. It includes tax forms, loan applications, loan entrance counseling, verification forms, etc.. Students have thirty (30) calendar days to complete requested paperwork.
  • Electronically transmitted funds are processed by the Finance Office and posted to the student's account within (3) three business days of receipt if the student’s enrollment status meets the enrollment requirements.
  • A student account is credited only when actual funds have been received and processed. Otis College does not advance monies or credits students' accounts for anticipated or estimated aid.
  • A credit balance is generated when actual aid and/or other payments posted to a student's account exceeds the total amount of tuition and fees charged for the semester.
  • Funds are posted to the student's account in the order received. A credit balance generated by posting of a PLUS loan are refunded to the student's parents or to the student depending on the parent borrower’s instructions. 
  • Refunds of credit balances generated by financial aid are issued to students or parents unless written notification is submitted to Office of Financial Aid requesting the credit balance to remain on the student's account for a future expense.

Special Provision for Books and Supplies

Credit balance created by federal aid is issued to the student by the 7th day of classes if the student meets all federal aid requirements at least 10 days before the start of the semester. The Office of Financial Aid disburses funds for eligible students 7 days before the beginning of semester.  

Contact Us

We're here to help! Have questions about applying for student loans, grants, and scholarships? Contact our student financial services team to get your questions answered.

Phone: 310-665–6999
Fax: 310-665–6884

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