North Carolina Institutional Policy

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  1. The Institute reserves the right to amend the terms of its Refund Policy to meet the federal, state or accrediting body, or any other regulatory agency statutes, guidelines or regulations in effect when an applicant or student withdraws or is terminated.
  2. The Federal Return of Funds Policy requires that in proportion to the period of enrollment remaining, grant and loan assistance that has been disbursed to a student and/or credited to a student’s tuition account be returned.
  3. If the Enrollment Agreement is rejected by the Institute, the applicant will be notified and refunded 100% of all monies paid.
  4. The Enrollment Agreement may be canceled at any time before the commencement of classes, with the following conditions:
    1. Cancellation must be in writing by the student, parent or guardian. The written notification must be sent to the Institute at the address indicated at the beginning of this Agreement.
    2.  All monies paid by an applicant will be refunded if the program in which the student is enrolled is canceled due to a lack of sufficient enrollment.
    3. An applicant requesting cancellation prior to beginning classes will be refunded all monies paid to the Institute or its representatives minus a registration fee of 15% of the contract price of the program, but in no event will the Institute retain more than $150 plus the cost of the meter if issued prior to cancellation or withdrawal.
    4. A student who did not visit the Institute prior to signing the Enrollment Agreement may cancel enrollment without penalty within three (3) days following attendance of the regularly scheduled orientation or a tour of Institute’s facilities. Washington residents please refer to the Notice to Buyer Section for Washington Residents Only.
  5. When a student withdraws or is terminated after the commencement of classes, whether initiated by the student or the Institute, a refund calculation will be performed:
    1. Students are charged by the enrollment periods detailed on the front of this Agreement.
    2. For each enrollment period the student has completed, the student is responsible for those charges in full.
    3. A refund calculation is performed for the enrollment period the student is in when the withdrawal or termination occurs.
    4. For purposes of the refund calculation, the actual last date of attendance will be used to determine the percentage of the enrollment period attended.
    5. Tuition charges for the percentage of the enrollment period completed are based on the percentage of weeks attempted using the percentages shown below.
       
      Institutional Policy Completed Retained
      0%  0%
      >0‑10%     25%
      >10‑25%     25%
      >25%  100%
    6. For first‑time students during the first week of the enrollment period, the school will retain $350 plus the amounts listed in #7.
    7.  In all instances of a student terminating or being withdrawn, NASCAR Technical Institute will retain the registration fee and charge an administrative fee of $100 in addition to the percentage of tuition to be retained shown above in the Institutional policy.
    8. Refunds of less than $5 will not be made. By signing this agreement, the student authorizes the Institute to retain refunds of $5 or less.
  6. If a refund is due, monies will first be returned to the Federal Title IV Funding Programs in their required order then to other funding sources prior to the student. Refunds will be totally consummated within 30 days after the effective date of termination. A return of funds to a federal student aid program or other non‑student sources as a result of a student’s withdrawal, dismissal or cancellation shall be made within 30 days after the date the Institute dismisses the student or receives notice of withdrawal, the last date of attendance or the date of cancellation, whichever is applicable.
  7. In the event the student is a minor at the time of withdrawal, any monies due directly to the student will be paid to the parent, guardian or guarantor of this Agreement.
  8. For programs with more than one enrollment period, tuition charges for the first enrollment period must be paid in full prior to beginning the second enrollment period. Tuition charges for the second or subsequent enrollment period will be assessed according to section E.
  9. If during the program of training, the Institute determines that a student is not suited for this field, the Institute reserves the right to terminate the student’s training. Unused prepaid tuition, if any, will be refunded in accordance with the refund policy.
  10. In the case of prolonged illness or accident, death in the family, or other circumstances that make it impractical to complete the program, NASCAR Technical Institute shall make a settlement that is reasonable and fair to both.