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How do I issue a refund?

Here's how you refund a student's credit balance. Before we get going, a few things:

  • If you have enabled the Allow Student Billing to refund unapplied aid setting in Financial Aid > Settings, you will be able to use this workflow to issue financial aid refunds.
  • If enabled, your options here will further depend on what you have selected in the Credit balance refund policy setting in Financial Aid > Settings.
  • If not enabled, then you must issue financial aid refunds using a refund batch in Financial Aid > Disbursement Batches.
  • In either case, you may use this workflow to issue refunds for non-aid credit balances.

Refunding a non-aid credit balance

You may issue a non-aid refund when the student has an unapplied non-aid payment or credit. First, go to the student's financial dashboard and click the gear.

  1. Select Refund Credit Balance.
  2. Enter the posted date.
  3. Enter the amount. You cannot refund more than what is shown in the Max: amount below this field.
  4. Who will this be paid to? If you select other person or organization, begin typing a name and choose from the results.
  5. Select the method and enter an optional reference #.
  6. Select the Asset Account you want this payment to credit.
  7. Click Save to finish recording the refund.

These payments are given the Customer Refund transaction type.

Refunding unapplied credits and financial aid

To refund unapplied financial aid using this workflow...

  • The award needs to have been disbursed and posted to the student's account in the first place. You cannot refund an award that is still in Setup or has only been scheduled!
  • You must have enabled the Allow Student Billing to refund unapplied aid setting in Financial Aid > Settings.

First, go to the student's financial dashboard and click the gear.

  1. Select Refund Credit Balance.
  2. Enter the posted date.
  3. Select the refund source. Your options here depend on what you selected in the Aid Refund Policy setting in Financial Aid > Settings. You can also select from individual award types.
  4. Enter the amount. You cannot refund more than what is shown in the Max: amount below this field.
  5. Who will this be paid to? If you select other person or organization, begin typing a name and choose from the results.
  6. Select the method and enter an optional reference #.
  7. Select the Asset Account you want this payment to credit.
  8. Click Save to finish recording the refund.

Depending on your selection for the Aid Refund Policy, these refunds will be given one of these transaction types:

  • Aid Refund: This transaction type is applied to any aid refund regardless of source.
  • Customer Refund: This transaction type is applied to any refunds of unapplied payments and credits, including those that combine aid refunds with non-aid refunds. If you refund $5000 of a Pell Grant and combine it with a $10 refund of an unapplied credit, it will be considered one, single Customer Refund!
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