Policy for Issuing Cash Refunds to Financial Aid Students
Financial aid is posted on a rolling basis as financial aid awards are processed. If the application of financial aid or other resources to a student’s account results in a credit balance (excess cash), a refund check is issued to the student. The University’s goal is to process refund checks twice weekly but never later than 14 days after the date that the credit balance occurs. Please note that dropping courses can impact a financial aid award.
The amount of financial aid awarded is determined by many factors including the number of hours for which a student enrolls. A reduction in hours may reduce the amount of financial aid a student is eligible for during a term with the possibility of being completely ineligible for financial aid for the term. In addition, federal regulations require that a student complete 60% of a term to earn all Title IV funds awarded for that term.