For questions regarding financial aid, please see the Financial Aid Handbook.
Title IV credits:
Title IV credits are defined as a credit created when only calculating the federal funds received. For those students, refunds are issued within 14 days of creation with no action required by the student or family. These credits are not used for anything other than direct charges of tuition, activity fee, room, and board, unless the student has specified that the funds can be used for nontitle IV charges.
For all other credits:
If a student has more financial aid than the charges on the account, he/she has a credit on their student account and is eligible to receive a refund for that credit. When looking at your student account, a credit balance will have a "-" in front of the amount. The Student Accounts Office issues refunds each week that the office is open. The refund process begins on Wednesday each week, with ACH deposits and checks being issued on Fridays.
When the Refund Comes from Financial Aid:
When the Refund Comes From a Parent PLUS Loan:
If a parent borrows a PLUS loan for more than the charges on the student account, a credit is created. The refund will be issued to either the borrower of the loan or the student, depending on the selection made by the parent at the time of application for the loan.
When the Refund Comes From a Payroll Deduction Payment:
If a payroll deduction payment creates a credit on the student account, the refund will be issued to the student, regardless if a Plus loan has been applied to the account.