Student Refunds
The refund process begins approximately 10 days after the first day of classes with the first pay date the following Friday. The regular weekly refund process will close each semester no later than the last day of classes. Refunds will only be processed if the account has been overpaid and is reflecting a credit balance.
Distribution of Credit Balances
Almost all credit balances will be refunded to the student on a weekly basis. A credit balance will not be refunded if there is written authorization on file from the student to keep designated funds on the account.
Once the refund process begins, refund batches are processed weekly and paid out on Fridays. Students may sign up for direct deposit by completing the “Student Direct Deposit Form” electronic document under the “Financial” menu of e-Services. Students who do not have direct deposit information on file with the Business Office and who have not completed the electronic form on e-Services will have a check placed in their U.B. box if they are living on campus. If the student is not living on campus, a check will be mailed to the home address on file with the Office of the Registrar. Students may contact Accounts Payable to verify banking information for direct deposit by calling 765-658-4124 or by emailing accountspayable@depauw.edu.
Students may request that no refunds be processed on their account by sending an email to paymentservices@depauw.edu. The email will need to be sent from the student’s DePauw University email address.
Students may request that a refund be paid to their parent or guardian by sending an email to paymentservices@depauw.edu. The email will need to be sent from the student’s DePauw University email address.
DePauw University reserves the right to submit or cancel student account refunds at any time and without notice to the student. Additionally, if there is a pending charge that will post to the account while a refund is being processed, the refund may be voided and the credit balance may be placed back on the account in order to be applied towards the pending charge.
Refunds Resulting in Credit Balances from Federal Aid
A credit balance generated from Title IV or federal aid (i.e. Federal Pell Grant, Federal Student Loans, Parent PLUS Loans, Federal Work Study, etc.) must be refunded to the student or parent PLUS borrower no later than 14 days after:
-
The credit balance occurred if it occurred after the first day of the payment period; or
-
The first day of class of the payment period if the credit balance occurred on or before the first day of class of the payment period.
The distribution of a Title IV refund will adhere to the same process as all other credit balances above.
Please note: Federal funds are considered to be the first payment toward tuition, fees, and residence hall charges. Therefore, most refunds are not the result of a Title IV credit balance.
Refunds for Greek Housing
Students who receive Greek housing charges from a Greek organization are required to either:
-
Pay their Greek organization and reimburse themselves with any expected DePauw-issued refunds, or
-
Wait for DePauw to issue any expected refund.
DePauw University cannot pay the Greek organization directly. Refunds will always be distributed to the student (or parent) who will then use the funds to pay the Greek organization. The University does not process any refunds to be used for Greek housing charges outside of the refund process timeframe.
Refunds Due to Withdrawal
|
Tuition |
A student who withdraws during the semester will receive an adjustment to tuition on a per diem proration (the number of days enrolled divided by the number of days in the semester) through 60% of the primary term. No refunds will be processed after 60% of the primary term has been completed. |
|---|---|
|
Comprehensive Fee |
There is no refund of the Comprehensive Fee. |
|
University Room & Meal plan |
There are no adjustments to the housing charge (Room). Housing & Residence Life may charge a $250 contract cancellation fee. Meal plan charges will be adjusted based on usage throughout the primary term. |
|
Non-Federal Financial Aid |
A student who withdraws during a semester and is receiving financial aid will have a similar per diem proration adjustment made to non-federal financial aid. |
|
Federal Title IV Financial Aid |
Federal law specifies how to determine the amount of federal assistance to be retained by a student who withdraws during a semester. The amount of federal assistance to be retained is determined on a per diem proration. For example, if a student completes 30% of the semester, 30% of federal assistance is retained on the student's account. If a student received less federal assistance than the amount the proration determines can be retained, all federal funds previously applied toward University charges remain on the student's account. If a student received more federal funds than the proration determines can be retained, the excess federal funding must be returned to the appropriate federal program(s) and the student's account will be charged for the refund(s). When more than 60% of the semester is completed, 100% of federal Title IV funds is considered “earned” and will not be returned to the funding source. If a student received excess federal funds according to the proration, the University must return a portion of the excess equal to the lesser of:
The order of federal programs to receive excess federal funds is:
If excess federal funds remain after the University has repaid federal programs, the remaining funds must be repaid by the student to specific federal programs in the same order listed above. However, in case loan funds are to be returned, the student (or the student’s parent for a PLUS Loan) repays the lender in accordance with terms of the promissory note. That is, the student makes scheduled payments to the lender over the agreed-upon time period, usually 10 years or a minimum $50 monthly payment. If the student is responsible for returning grant funds, the full amount does not have to be returned. The law requires repayment of 50% of excess grant assistance by the student and the student must agree to repay the excess grant assistance within one year after receiving notification of the obligation. Repayment is made by the student to the University who will repay the appropriate federal program. The student is ineligible to receive additional federal assistance if repayment has not been made within the year. Federal funds are considered to be the first payment toward tuition, fees, and residence hall charges. Unless federal funds exceed adjusted institutional charges, the student will not be required to repay funds to the federal programs. Generally, excess federal funds will be repaid to the appropriate federal program by the University and charged to the student's account. |
|
Greek Charges |
The student will need to work with the Greek organization to determine if any adjustments or refunds will be processed of Greek charges if the student withdraws from the University. |