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Student Refunds and Credit Balances

Have a credit or negative balance on your student account?

A credit balance may mean you are eligible for a refund. This page explains when refunds are processed, how you will receive your refund, direct deposit, Parent PLUS refunds, overpayments, and book vouchers.

Refund Policy

  • A credit balance occurs when applicable funds paid onto the student account exceed the total amount of applicable charges per semester.

To check your account summary anytime, log on to the student self-service portal: Student Tab; Student Account Tab; Account Summary by Term Tab.

  • Financial aid or other funding must be received and posted to your student account before it can be considered for a refund. Estimated, authorized, pending, or memo amounts do not represent funds currently available for refund.
  • Credit balance must be reviewed and processed following the completion of the add/drop registration period.
  • Title IV financial aid refunds will be processed within 14 days of the funds being credited to the account. A student or borrower may submit a written authorization to hold the funds in the student account.
  • Refunds will be issued to the payment method that caused a credit balance.

Refund Request

Students expecting a refund of an overpayment (not including Title IV) must email the Office of Student Accounts: studentaccounts@umsv.edu. Please include your name and student ID with your email request.

The credit will remain on your student account for the subsequent semester if a request is not received.

Refund Process

Refund requests are reviewed weekly by the Office of Student Accounts, Office of Financial Aid, and Finance to ensure the accuracy of the credit balance. Institutional awards are not refundable. The refund request process may take up to 3-4 weeks to complete.

This 3-4 week processing timeframe does not apply to credit balances resulting from Title IV federal financial aid. Title IV credit balances are processed in accordance with federal regulations and applicable refund timelines.

Refunds are issued in the student’s name unless the credit balance results from excess Parent PLUS Loan funds, in which case the refund is issued in accordance with the Parent PLUS borrower’s refund authorization.

Refund Options

  • Federal Financial Aid (Title IV): Eligible Title IV credit balances are processed within 14 days after the funds are credited to the student account.
  • Other Credit Balances/Overpayments: Refund requests are reviewed by the Office of Student Accounts, the Office of Financial Aid, and Finance. The complete process may take approximately 3-4 weeks.
  • Direct Deposit: Once the refund process is completed, direct deposit funds are typically available within 3-5 business days.
  • All approved refund checks will be mailed to the student mailing address on file unless there is a direct deposit set up.
  • If you prefer to pick up the refund check, photo identification is required for students or borrowers. The Office of Student Accounts is located in Founders Hall, Room 223.
  • An overpayment caused from a credit card payment will typically be refunded to the original credit card. Any excess credit above the original credit card payment will be refunded according to the general refund process. Please note: Convenience fees are non-refundable.

To update your mailing address or add a direct deposit, please log into your student self-service portal.

Book Voucher

Students may qualify to request a book voucher in advance of a student account credit balance. A book voucher must be requested via email: studentaccounts@umsv.edu. The student must include student ID number and a copy of the total amount due of the books wished to be purchased through VitalSource. Once the request is received, the Office of Student Accounts will charge this amount to your student account and your voucher will be email to your University of Mount Saint Vincent email. If books are returned, or funds are not fully used, your account will be credited to reflect actual purchase balance.

Refunds Issued in Error

If the Office of Student Accounts issues you a refund in error, the University reserves the right to reclaim such funds.

Questions?

Contact the Office of Student Accounts.