The refund process begins approximately 10 days after the first day of classes with the first pay date the following Friday. The 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
- Credit balances created by federal funds
- Credit balances created by federal loan funds will be scheduled to be distributed to the borrower of the loan that created the credit balance.
- Credit balances created by federal scholarships and grants will be scheduled to be distributed to the student.
- Credit balances created by non-federal funds
- Credit balances created by non-federal funds will remain on the account for future charges unless requested by the student to be refunded.
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 firstname.lastname@example.org.
Students may request a refund of their credit balance created by non-federal funds by sending an email to email@example.com. The email will need to be sent from their DePauw University email address. Please note that refund requests must only be submitted if the account is reflecting a credit balance. The request will be discarded and will need to be resubmitted if the account has an outstanding balance.
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 be placed back on the account in order to be applied towards the pending charge.
Refunds due to Withdrawal
Tuition Refund: A student who withdraws during the semester will receive an adjustment to tuition on a per diem pro-ration (number of days enrolled divided by 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.
A student who withdraws within eight weeks due to illness (doctor verification required) will receive a reversal of tuition charges for that semester.
A student who is suspended from the University during the semester for disciplinary actions is not entitled to a refund of tuition.
There is no refund of the Comprehensive Fee.
University Room and Board Refund: There is no refund for the room charges. Board charges will be refunded based on usage throughout the semester regardless of the reason for withdrawal.
Financial Aid Refund: A student who withdraws during a semester and is receiving financial aid will have a similar per diem pro-ration adjustment made to non-federal financial assistance.
Federal Title IV Awards Refunds: 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 pro-ration. If a student completes 30 percent of the semester, 30 percent of federal assistance is retained on the student's account.
If a student received less federal assistance than the amount the pro-ration 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 pro-ration 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 percent of the semester is complete, a student retains all federal assistance that was received.
If a student received excess federal funds according to the pro-ration, the University must return a portion of the excess equal to the lesser of:
- Tuition, fees, and residence hall charges multiplied by the percentage of excess (unearned) funds, or the entire amount of the excess federal funds.
The order of federal programs to receive excess federal funds is:
- Unsubsidized Stafford Loan
- Subsidized Stafford Loan
- PLUS Loan
- Federal Pell Grant
- Federal Supplemental Educational Grant (F-SEOG)
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 percent 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.