Credit on Account

(Refunds of Excess Financial Aid/Overpayment of Account)

Title IV credits:

Title IV credits are defined as a credit created when the federal funds received exceed the allowable charges for a particular period. Allowable charges are tuition, mandatory fees, and University housing and board charges. For those students with a Title IV credit, 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 specified by the student.

For all other students:

If a student has more financial aid or other payments 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 that the office is open. The refund process begins on Monday each week, with ACH deposits and checks being issued on Wednesdays. Standard practice is to refund the credit to the student's bank account. Students must enroll in e-Refund through CashNet to authorize the ACH deposit. Exceptions to this must be addressed by a Student Accounts Manager.