When to Expect Your Refund
Financial aid will normally be credited to the student account the first business day after the first week of classes. Refunds processing will begin immediately and will continue daily through the second week of classes. Beginning with the third week of classes, refunds will be processed each Friday to correspond with the weekly adjustment of financial aid. Once the refund is processed, a charge will show on your bursar account with the description of "Refund" and your credit balance will be reduced to $0.
When I will receive my refund?
From the day you see the refund on your Bursar account, those students with direct deposit will generally see a credit to their bank account in 2-3 business days. Otherwise, you should expect to receive a check in the mail in 7-10 business days. Payments made by credit card resulting in a credit balance will be refunded via credit card, and should appear within 10-14 business days.
Please view your account via One.IU for detailed information on your account.
Reasons for possible delays in refunds
- Direct Deposit information is no longer valid
- Eligibility problems:
- Not enrolled in enough hours
- Updates to class standing
- Master promissory note is not signed
- Loan Entrance Counseling is not completed
- Prior term debts
- No signed Title IV Authorization form on file
- Bad address on file
- Not set up for direct deposit.
- Flagged by Student Loan Administration: Past due loan debts, required exit interview, etc.
- Your correct mailing address is not on file at the Office of the Registrar
- Original payment was made by personal check (we will wait 21 days from the date the check was posted to your account before we will refund any credits to ensure the check clears the bank.)