Refunds

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Refunds : When and How Issued

When are refunds commonly issued?

  • Financial Aid Award - Account Overpayment

    Image of hand and moneyFrequently, students receive federal financial assistance which is in excess of the charges on their student account and can be refunded to the student. Such refunds will be automatically processed and issued to the student via check or direct deposit.

    Refunds are processed when the funds are received and result in a credit balance on the student’s account. Excess PLUS Loan funds will be refunded to the parent unless the parent has designated otherwise.

  • Withdrawal: Course, University, or Special Withdrawal

    Students must officially withdraw from a course or the university to receive a reduction of tuition and standard fee charges. To officially withdraw from a course or the university the student must contact the Dean's office of the major college. 

    For more information on withdrawals, see Registration and Records open in new window.

    Note: Students who receive a refund of financial aid overpayment and later withdraw from the university may be required to repay a portion of refunded aid. The exact amount to be repaid to financial aid accounts will be determined by the amount of aid received, the educational costs incurred, and the length of time attended during the semester per federal regulations.


 

How are refunds issued?

A refund on a student account credit balance is processed 2 ways:

  1. Direct Deposit of Refunds - Sign Up Now - Fast, reliable and safe!
  2. Printed Check: Checks are made payable to the student or by direct deposit to the student’s bank account. All refund checks are mailed to the student’s local address and are NOT available for pickup. If no local address is on file the check will be mailed to the student's permanent address. Address verification and changes should be done with Registration & Records in Williston Hall Room 220, phone (815)753-0681, or online via MyNIU open in new window.