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How do I refund financial aid using the batch workflow?

You can also refund financial aid using the Refund Credit Balance workflow on the student's financial dashboard. To do so, you must first enable the Allow Student Billing users to refund aid credit balances setting in Financial Aid > Settings. After doing so, you'll follow the instructions in this article.

To refund financial aid using the batch workflow:

  1. The Allow Student Billing users to refund aid credit balances: setting in Financial Aid > Settings must be set to No.
  2. It needs to have been disbursed and posted to the student's account in the first place. In other words, you cannot refund an award that is still in Setup or has only been scheduled!
  3. You must schedule the refund.
  4. You must include the refund in a batch.

Step 1. Start by going to the student's profile > financial aid tab.

 

Step 2. Locate the award you need to refund

You will see a summary of the student's financial aid awards for the selected aid year.

  1. Choose the correct aid year.
  2. Locate the award from which you need to issue a refund.
  3. Under that award, click Refund Aid.

Step 3. Schedule the refund

The dialog box lets you set up the refund. At the top, it shows you the basic award details—how much has been disbursed, how much (if any) has been refunded, and the maximum refund you can offer (the number in bold). Fill in the remaining refund details:

  1. Refund To: Should the refund go to the student or the financial aid source (e.g. the government, a scholarship fund, etc.)? Make sure to consult the refund rules for the award type—especially with government-sourced awards!
  2. Account: Select the asset account from which the refund will be withdrawn.
  3. Refund Amount/Date: Enter the refund amount and the date on which it should be issued (this is called the scheduled date). When you create the refund batch described in Step 4, you'll use these details to set up the batch.
  4. Click Save. The refund will appear with the original disbursements.

 

Step 4. Create a refund batch

Now that you've scheduled the refund, you'll be able to post it. Refunds, like disbursements, are posted in batches. When you are ready to post your refund(s), go to Financial > Financial Aid > Awards > Disbursement Batches and click New Batch.

 

Use the batch filter to find the refund(s) you'd like to post. As you add criteria to the filter, the list of matching refunds will automatically update.

  1. Select a campus (if you have campuses enabled).
  2. Select Refund to Student or Refund to Source.
  3. Use the date fields to filter for refunds by their scheduled date.
  4. Check the aid types you wish included in the batch.
  5. Now that you've finished filtering, you can check the boxes next to the refunds you wish to include in this batch, or uncheck the refunds you wish to exclude.
  6. Click Create this Batch.

Step 5. Complete the batch workflow

Refund batches have three stages. You can cancel the batch while it is in setup, but not afterwards.

  1. Cancel the batch if you need to make changes.
  2. Comment on any stage of the batch if you'd like to leave a note.
  3. As you complete one stage, just click Advance to next stage.
  4. When you're ready to complete the batch, you can notify students by email that the refund has been posted. You can also change the posted date, if desired.
  5. Click Complete batch; this closes the batch to further modification.

Step 6. Review posted refunds on student accounts

The refund(s) will now show up under Recent Transactions on Profile > Financial > Dashboard as well as on the Financial > History tab.

  • Click the transaction number to view information about the transaction. You can view the associated entries made on your general ledger.
  • Click the reference number to view information about the refund. You can view which payment the refund reduced and print a receipt.
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