I've finally paid off my student loans in full.
I have been with Penn Foster for over a year but have only completed a few courses. Obivously, the distance learning thing isn't working out bery well for me, so I want to drop out and enroll with a real college.
I read through the contract with Penn Foster. I am still in the first semester (about 25%) even though I have been with them for more than 12 months.
The contracts states that I would be entitled to a partial refund of what I have paid them; since I have done about 25%, they can keep 25% of what I have paid (and it's almost paid in full.)
However, Penn Foster Student Services said that because I have been with them for over a year, then technically that means that I have completed a full semester and am no longer eligible for my refund.
My reply was, how could I be only 25% in my studies but be considered to have completed a full refund??
What do you think??
Here's the actual cancellation policy, typed verbatim, spaces and all:
In the event that you cancel or withdraw from Penn Foster, a refund of tuition will be provided as follows:
1) If you cancel within seven days after midnight of the day you sign the Enrollment Agreement, you will receive a refund of all monies paid to Penn Foster.
2) If you cancel after seven days, but before submitting a completed assignment, you will recieve a refund of all monies less the non-refundable registration fee of 15% of the tuition or $150.00, whichever is less, and, if applicable, the non-refundable adminstrative and shipping and handling fees.
3) If you cancel after completing at least one lesson but less then 50% of the program assignments, in addition to retaining the non-refundable registration fee and if applicable, the non-refundable adminstrative and shipping and handling fees, your tuition obligation is as follows:
a) Up to and including 10% of the program, Penn Foster will retain 10% of the refundable tuition.
b) If you cancel after 10% and up to and including 25% of the program, Penn Foster will retain 25%of the refundable tuition.
c) If you cancel after 25% and up to and including 50% of the program, Penn Foster will retain 50% of the refundable tuition.
If you complete more than 50% of the program, Penn Foster shall be entitled to the entire program tuition and any applicable fees. No refunds will be made after 15 months.
You may cancel or withdraw in any manner, but we recommend confirmation in writing be sent to the Student Service Center, 925 Oak Street, Scranton, Pennsylvania 18515.