Refund Season

Date: October 22, 2012 - 3:44pm
Category & Tags:

Be Wise With Your Refunds 

            We, at Student Accounts, have put together the following information about handling refunds. We hope this helps you navigate the financial maze of the college years. If you have more specific questions about refunds or just budgeting and money-handling, please come in for a personal consultation to the Student Accounts office. We'd love to help.

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Refund checks are issued when a student’s financial aid is greater than their total bill for that semester. For example, if John has a total aid package of $13,000 and his total bill is $12,000; his refund will be $1,000.

            A student has four options when it comes to their refund amount:

1. Students may leave the amount on their account by filling out a Retain Credit Balance Form, to take care of any charges that may accrue throughout the remainder of the semester.

2. Students may have their refunds issued to them by check. This check will be in the student’s name for the remaining balance, and the student will receive an email when their check is available for pick-up in the Student Accounts Office. If the refund is coming from a Parent PLUS Loan, it will be sent to whomever the parent designated.

3. Students have the option of filling out a Loan Reduction Form sending the entire amount, or a partial amount, back to the lender to reduce the amount of the loan.

4. Students who have received their refund checks may return a portion, or all of their check back to their account to reduce a loan, or keep for a future semester.

            For any questions regarding refund checks, or any information as to how a student might be able to proceed after receiving a refund, please feel free to contact the Student Accounts Office by phone at 612-343-4401, or by email at stbills@northcentral.edu