Student Financial Services
If your student account shows a credit balance, you may be entitled to receive a refund. Student Financial Services processes credit balance refunds on a weekly basis.
Credit Balance Policy
A credit balance occurs when funds that are credited to a student’s account (such as cash, federal and state financial aid, scholarships, etc.) exceed the amount of institutional charges such as tuition, fees, room and board. Federal regulations require the institution to refund excess federal funds to the student within 14 days of the date the credit balance occurs. Credit balances created by institutional scholarships will not be refunded. The College reserves the right to adjust institutional scholarship awards to reduce a credit balance. See our institutional scholarship policy for more information.
As of June 30, 2019, the Office of Student Financial Services is ending its partnership with BankMobile for delivery of student refunds and is implementing a new procedure subjecting all student refunds to Mandatory Direct Deposit effective July 1, 2019. Direct deposit is the electronic transfer of money into an individual’s checking or savings account.
To enroll in direct deposit, complete the SFS Direct Deposit Enrollment form and submit it to our office.
Important: Once your refund is processed, we are unable to stop it from going to the bank account on file when processed. If your refund is rejected due to incorrect banking information, it may take 7 to 10 business for your refund to be reissued to you.
If you do not enroll in direct deposit, a paper refund check will be generated and mailed to the address on file with the College. Mailed refund checks can take between 7-10 business days to be received once processed.
Parent PLUS Loan Refunds
Credit balances created by PLUS loan funds will be refunded based on the preference indicated by the parent on the federal student aid PLUS loan application. Parents have the option to either have the credit balance refunded to the student via direct deposit, or to the parent via a paper check.
Credit Card Refunds
If your student account balance is paid with a credit card and you later have a credit balance due to you, your credit balance will be refunded first to the credit card used to make payment on your account up to the amount of the credit card payment made. Any additional credit balance due to you after the credit card refund has been processed will be refunded based on your refund preference.
Undeliverable Refund Checks
If your refund check is lost or damaged and you would like to request a replacement, please complete our SFS Refund Stop Payment Request form and submit it to our office.