Community Exchange

We are asking what other schools do when a student overpays in the fall semester.

• Do you automatically send the student a refund? 
• Do you ask the student if they want the credit to be applied to the spring semester?
  • If they say yes, how do you handle the credit? Do you leave the credit on the account or do you remove the credit and memo it to be disbursed for the spring semester once you run your spring billing process?

We are asking what other schools do when a student overpays in the fall semester.

• Do you automatically send the student a refund? 
• Do you ask the student if they want the credit to be applied to the spring semester?
  • If they say yes, how do you handle the credit? Do you leave the credit on the account or do you remove the credit and memo it to be disbursed for the spring semester once you run your spring billing process?

We are asking what other schools do when a student overpays in the fall semester.

• Do you automatically send the student a refund? 
• Do you ask the student if they want the credit to be applied to the spring semester?
  • If they say yes, how do you handle the credit? Do you leave the credit on the account or do you remove the credit and memo it to be disbursed for the spring semester once you run your spring billing process?

We are asking what other schools do when a student overpays in the fall semester.

• Do you automatically send the student a refund? 
• Do you ask the student if they want the credit to be applied to the spring semester?
  • If they say yes, how do you handle the credit? Do you leave the credit on the account or do you remove the credit and memo it to be disbursed for the spring semester once you run your spring billing process?

We process all student credit balance refunds on a weekly basis. However, when a credit balance results from a payment posted to the account, a systematic refund lock is automatically applied. The duration of this lock depends on the amount of the credit.

This hold allows time for any anticipated charges to post and for any potential non-sufficient funds (NSF) payments to be identified and processed. Once the refund lock expires, the remaining credit balance is automatically refunded.

This procedure was implemented to help prevent fraud. In the past, we encountered situations where individuals made payments that were later returned for insufficient funds after a refund had already been issued. The refund lock helps ensure that funds are fully cleared before refunds are processed.

Please let us know if you have any questions or need further clarification.

We are asking what other schools do when a student overpays in the fall semester.

• Do you automatically send the student a refund? 
• Do you ask the student if they want the credit to be applied to the spring semester?
  • If they say yes, how do you handle the credit? Do you leave the credit on the account or do you remove the credit and memo it to be disbursed for the spring semester once you run your spring billing process?

We are asking what other schools do when a student overpays in the fall semester.

• Do you automatically send the student a refund? 
• Do you ask the student if they want the credit to be applied to the spring semester?
  • If they say yes, how do you handle the credit? Do you leave the credit on the account or do you remove the credit and memo it to be disbursed for the spring semester once you run your spring billing process?

We are asking what other schools do when a student overpays in the fall semester.

• Do you automatically send the student a refund? 
• Do you ask the student if they want the credit to be applied to the spring semester?
  • If they say yes, how do you handle the credit? Do you leave the credit on the account or do you remove the credit and memo it to be disbursed for the spring semester once you run your spring billing process?

We are asking what other schools do when a student overpays in the fall semester.

• Do you automatically send the student a refund? 
• Do you ask the student if they want the credit to be applied to the spring semester?
  • If they say yes, how do you handle the credit? Do you leave the credit on the account or do you remove the credit and memo it to be disbursed for the spring semester once you run your spring billing process?

Hello Ana,

We refund. However, if the student is enrolled in the Spring term when a Fall credit is available, any non-financial aid credit will apply to the available Spring balance. We do not ask the student, but disclose this policy/process in our Financial Responsibility Agreement each term.

We are asking what other schools do when a student overpays in the fall semester.

• Do you automatically send the student a refund? 
• Do you ask the student if they want the credit to be applied to the spring semester?
  • If they say yes, how do you handle the credit? Do you leave the credit on the account or do you remove the credit and memo it to be disbursed for the spring semester once you run your spring billing process?

We are asking what other schools do when a student overpays in the fall semester.

• Do you automatically send the student a refund? 
• Do you ask the student if they want the credit to be applied to the spring semester?
  • If they say yes, how do you handle the credit? Do you leave the credit on the account or do you remove the credit and memo it to be disbursed for the spring semester once you run your spring billing process?