Students gathered at a table
  1. Coe
  2. Student Life
  3. Student Life Resources
  4. Student Financial Services
  5. Business Office
  6. Student Accounts Handbook
  7. Credit Balance/Refunds

Credit Balance/Refunds

For questions regarding financial aid, please see the Financial Aid Handbook.

Credit on Account (Refunds of Excess Financial Aid/Overpayment of Account)

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, housing and food, unless the student has specified the funds can be used for non-Title 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 the 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 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

  1. The refund process begins each week on Wednesday, with ACH deposits being issued on Friday.
  2. If a student misses the deadline one week, the request will be processed the following week.
  3. Standard practice is to refund the credit to the student's bank account. Please ensure you have an ACH Authorization on file. The ACH Refund Deposit Request Form is online (MyCoe/Student tab/Quick Links).
  4. A student can request that a credit balance be retained on their student account by completing the Retain Credit Form either online (MyCoe/Student tab/My forms) or in the Business Office. All refunds will be issued to the student or parent at the end of the academic year.

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.

  1. The refund process begins each week on Wednesday, with checks and ACH deposits being issued on Friday.
  2. If a parent misses a deadline one week, the check will be issued the following week.
  3. A parent may request the refund go to the student on campus, to the parent's home address or via EFT to a bank account specified by the borrower.

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.