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Notice of Cancellation shall be in writing, and that a withdrawal may be effectuated by the student's written notice or by the student's conduct, including, but not necessarily limited to, a student's lack of attendance. Upon receipt of the Notice of Cancellation from the student, Amfasoft Corporation will send the student a written acknowledgment of the receipt of the request. Institutions shall refund 100 percent of the amount paid for institutional charges, less a reasonable deposit or application fee not to exceed two hundred fifty dollars ($250) if a Notice of Cancellation is made through attendance at the first class session, or the seventh class day after enrollment, whichever is later. The Bureau may adopt by regulation a different method of calculation for instruction delivered by other means, including, but not necessarily limited to, distance education. (Not applied) The institution shall have a refund policy for the return of unearned institutional charges if the student cancels an enrollment agreement or withdraws during a period of attendance. The refund policy for students who have completed 60 percent or less of the period of attendance shall be a pro-rata refund. Amfasoft will inform the student within 45days with the details of the refund money owed and the itemized breakdown of refund. All refund will be paid in 45days of the student's cancellation or withdrawal from the program *If a student has received federal student financial aid funds, the student is entitled to a refund of money not paid from federal student financial aid program funds. *If a student has received third party loans for training and enrolled at Amfasoft Corporation, upon withdrawal from the program, Amfasoft is not responsible for any interested student may owe at the time of withdrawal. Sample Refund Poficv: The student has a right to a full refund of all charges less the amount of the application fee listed in the fee section of this agreement (the amount retained may not exceed $75) if the student cancels this agreement prior to or on the first day of instruction. Thereafter, the student will receive a pro-rata refund as specified in the California Education Code. If a student completed 50% of a course, the refund would be calculated as follows: (If the student paid $1,000 tuition for a 100-hour program, $75 for an application fee, and initially paid $0 for books and supplies) Refund Example: $1,075 (Amount paid for program tuition, application and books) Less $ 75 (Amount retained by the institution for the application fee) Less $ 0 (Amount for books not pail of the refund calculation) Equals $1,000 (Amount subject to the refund calculation) Divided By $ 100 (Hours paid for, but not received) Times $ 50 (Hours completed) Equals $ 500 (Refund Amount) For this same course, the following would apply: Completed: 10% 25% 50% 60% Refund Amount: $900 $750 $500 $400 Also, upon the return of unused or re -saleable equipment or books, the student would be reimbursed for the cost of those returnable materials. Refunds will be paid within 30 days of cancellation or withdrawal. Amfasoft also offers distance educational learning programs. The institution meets the specific minimum operating standards for instruction (5 C.C.R. §71715). 35