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How do I issue a refund?

Here's how you refund a student's credit balance.

  • All refunds take place on a student's Profile > Financial > Dashboard view.
  • Your refund type options depend on what you have selected in the Aid refund policy setting in Financial Aid > Settings.
  • You can refund unapplied credits, unapplied payments, and unapplied aid payments that permit refunds to students (like Pell Grants). Before refunding financial aid to a student, make sure that such refunds are permitted.
  • Financial aid refunds to the student use the workflow described here. Aid refunds to source require the workflow described in this article.
  • If you've set up a check template, you can also print a batch of refund checks from Billing > Current > Student Balances.

Refunding a credit balance

You may issue a refund when the student has an unapplied payment, credit, or aid payment.

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

Depending on your selection for the Refund Source field:

  • If you selected All sources or Payments/Credits (non-aid), the refund will post as a Customer Refund transaction.
  • If you selected one of the Aid sources, the refund will post as an Aid Refund transaction.
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1 Comments

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    Rachel Mower

    This is all pretty straight forward. My question is, after refunding aid from a Disbursement batch of 200+ individual students through this workflow, how do I create a report for my Accounting department that not only contains each of the refunds individually, but also a TOTAL $ of what the refunds equal all together. This is imperative for our Auditing processes. Previously, we were able to create a Refund batch to follow the Disbursement, and it contained a total at the top of the print-out. That feature has disappeared with this "update", just as the date range disappeared when printing out the GL report. Which, BTW, our "work around" still consists of us screen shotting the daily GL and inserting it into a Word document for printing, or typing the dates into an excel document after export. We'd really love it if these extra steps weren't necessary in order to see all of the imperative information in one place.

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