Refund of Credit Balances
April 10, 2007
Effective the 07/08 academic year, the Cashier and Credit office will be processing student refunds according to the following policy:
After all necessary adjustments have been made to a student’s account, any resulting credit will be refunded. Federal regulations require that credit balances resulting from a Federal PLUS disbursement be refunded to the parent borrower unless a written authorization is on file allowing the credit balance to be released to the student or held on the student’s account. Such an authorization must be on file for each Federal PLUS loan borrowed. If the student’s expenses are covered by a formal billing arrangement between the College and the student’s employer, government agency or other sponsor, credit balances will be refunded to the third party sponsor. In all other cases, credit balances on a student’s account will be refunded in the name of the student.