| Before the first day of class | 100% |
| First day of class through 10 days of class in the semester | 90% |
| Eleven days through 20 days of class in the semester | 50% |
| Twenty-one through 24 days of class in the semester | 25% |
| 25 days through end of the semester 0% |
The Rust College refund policy for federal aid is to return the student’s portion of the financial aid to the federal student aid programs in the following order:
- Federal Direct Unsubsidized Stafford
- Federal Direct Subsidized Stafford
- Federal Direct Plus
- Federal Pell Grants
- Federal SEOG
- Any other Title IV Program
- Other Federal, State, Private or Institution Aid
- Student
Room and board charges are refunded on a pro-rata basis, using the number of remaining weeks divided by the weeks in the term. Any financial aid recipient who officially withdraws from the college after 25 days is responsible for all charges incurred in the semester unless; the pro-rata refund calculation for financial aid is applied as determined by the financial aid office.
Students receiving any form of financial aid, who are considering reducing their class load below twelve hours for the semester should consult with the Director of Financial Aid to discuss how this will affect their financial aid.