All refunds resulting from an overage of federal loans are made via direct deposit within 10 business days of the loan disbursement date. Please ensure your bank account information is correctly entered into your IONLINE account for proper processing of your refund.
TO ENTER YOUR BANK INFORMATION:
Go to Ionline, Main Menu. Under Financial Information select Bank Information. Enter the routing and account number where you want the refund to be deposited.
Always refer to the official academic calendar for detailed refund schedule. This refund schedule applies to courses beginning within the 1st five weeks of a semester's tuition and is determined by the student's signature and the date of receipt of the appropriate form in the Office of the Registrar or determined by the Institute, such as the last day of attendance. For course modules beginning after the 5th week of classes, refunds are granted during week one of the module only. After week one of a course module beginning after the 5th week of classes, no refunds are allowed. Fees and deposits are non-refundable.
Below is the refund schedule for courses beginning anytime within the 1st 5 weeks of a semester:
Week one of a semester - 100%
Week two of a semester - 80%
Week three of a semester - 60%
Week four of a semester - 40%
Week five of a semester - 20%
After week five - NO REFUNDS
Return of Title IV Funds (Federal Stafford Student Loans)
A formula defined by the federal government determines how much, if any, of federal aid is refunded when a student withdraws. See the Financial Aid Federal Refund Policy under the "Financial Aid Policies" section for more information concerning effects of withdrawal or leave of absence on financial aid received.