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Refunds

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Student Accounting

Refunds

Refunds
The University has adopted a policy to monitor the enrollment of students receiving financial aid. Students who are not attending a class for which they are registered will have their financial aid reduced if applicable. Registration credits will not be adjusted to reflect non-attendance. If there is an overpayment on your account, we will process the refund as quickly as possible provided the funds have cleared.  Because a final assessment of your account balance cannot be determined until your schedule is finalized at the end of add/drop, we cannot issue any refunds prior to then.  We will only issue refunds for a credit balance resulting from an actual overpayment. It is therefore in your best interest to pay only the exact amount due on your account. In addition, we will only be able to process your refund if the credit balance is the result of actual (not estimated) funds and all checks have had 10 days to clear (foreign checks may require additional time). To expedite your refund process, you have the option of registering for Direct Deposit.  You may do this by logging in to your KeanWISE account. If you have not elected to use the Direct Deposit option, you will receive a paper check mailed to your home of record. 

You should be aware of the following details affecting your refund: 
If your statement includes estimated Federal and state funds, and this results in a credit balance on your account, your refund cannot be processed until you sign the required documents in accordance with federal regulations, and the funds represented by these awards are obtained by the university from the federal or state government. 

If you are receiving financial aid from any state, local, or private agency, any resulting refund will be made only after the university receives the funds.  Please realize that the first money received by the University is the money that is applied toward your tuition and fees. Therefore, if you have taken out a loan for living expenses and these funds arrive at the University before other financial aid monies are received, the loan will be applied to your tuition expenses. Overpayments or refunds only occur after your tuition and fees have been paid.

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