Refunds and Academic Credit
Policy on Refunds
In compliance with federal regulations, it is Immaculata University’s policy that credit balances on a student account resulting from the receipt of federal funds be refunded to the student, third party (such as borrower) or lending institution. Immaculata will process eligible refunds within 14 days of the start of the term and weekly during the term in accordance with federal guidelines.
To be eligible for a refund, you must meet the below criteria. Once the criteria is met, your refund will be processed.
- Undergraduate full time – enrolled in at least 12 credits and all classes must have started.
- Undergraduate part time – enrolled in at least 6 credits and all classes must have started.
- Graduate Studies – enrolled in at least 4.5 credits and all classes must have started.
The Business Office processes and mails refund checks to the home address provided by the student. By logging on to MyIU and selecting the Student Account Center tile, students may elect to have their refunds deposited directly into their bank account. Refunds are based on the disbursement of funds and the order in which they are received on the student account. Refunds are issued to the student unless the Parent PLUS Loan creates the credit to be refunded. In this case, the refund will be issued to the borrower.
Credit balances resulting from non-federal funds will be processed within three weeks after the credit occurs and issued to the appropriate party. Refunds are processed for the full amount; partial refunds will not be processed.
Credit balances (up to $800) may be transferred to the students’ university One Card to purchase books at the Campus Bookstore.
Students may request to have their Title IV funds credit balance held to pay future charges through the end of the aid year. The aid year runs fall through summer. All credits are refunded at the end of each aid year. Contact the Business Office or the Office of Financial Aid to obtain the Title IV Authorization Hold form.
Once a student has graduated or is no longer enrolled at Immaculata and all financial obligations have been met, eligible refunds will be issued.
Contact firstname.lastname@example.org for further information.