Students submitting proof of being drafted or voluntary enlistment in the armed forces may receive credit and/or refund of fees as follows:

(1) During first one-third of course, full refund of fees and no credit.

(2) During second one-third of course, one-half credit, without letter grade and with courses unspecified. Unspecified credit may later be converted to specific credit and grade by examination. One-half of fees refunded.

(3) Withdrawal during last one-third of course, full credit, no letter grade may be earned by examination upon recommendation of the instructor. No money refunded.

(4) A student who is drafted in the last one-half of his final quarter and who would obviously have earned his degree if he had not been drafted, whose earned grade average is "C" or better, and who is recommended by his department chairman and the dean, may be granted a degree prior to his induction into the armed forces by action of the graduation committee.