(a) Refunds for Classes Cancelled by the Institution. — If tuition and fees are collected in advance of the starting date of a program and the institution cancels the class, one hundred percent (100%) of the tuition and fees collected shall be refunded. The refund shall be made within thirty (30) days of the planned starting date.

(b) Refunds for Students Who Withdraw on or Before the First Day of Class. — If tuition processing fees are collected in advance of the starting date of classes and the student does not begin classes or withdraws on the first day of classes, no more than One Hundred Dollars ($100.00) of the tuition and processing fees may be retained by the institution. Appropriate refunds for a student who does not begin classes shall be made within thirty (30) days of the class starting date.

(c) Refunds for Students Enrolled Prior to Visiting the Institution. — Students who have not visited the school facility prior to enrollment will have the opportunity to withdraw without penalties within three (3) days following a documented attendance at a regularly scheduled orientation or a documented tour of the facilities and inspection of the equipment. Institutions are required to keep records of students’ initial visits or orientation sessions.

(d) Refunds for Students After Instruction has Begun. — Contractual obligations beyond twelve (12) months are prohibited. The refund policy for students attending proprietary institutions who incur financial obligations for a period of twelve (12) months or less shall be as follows:

(i) After the first day of classes and during the first ten percent (10%) of the period of financial obligation, the institution shall refund at least ninety percent (90%) of the tuition;

(ii) After the first ten percent (10%) of the period of financial obligation and until the end of the first twenty-five percent (25%) of the period of obligation, the institution shall refund at least fifty percent (50%) of the tuition;

(iii) After the first twenty-five percent (25%) of the period of financial obligation and until the end of the first fifty percent (50%) of the period of obligation, the institution shall refund at least twenty-five percent (25%) of the tuition; and

(iv) After the first fifty percent (50%) of the period of financial obligation, the institution may retain all of the tuition.