Step three: set up refund policies

Refund Policies automatically calculate refunds for invoiced charges when a student withdraws from courses. Here's how they work:

  1. You create a refund policy, specifying refund details within the policy's brackets and other options.
  2. You add the policy to a student account, whether on an individual student's profile, or by making it the default for a particular tuition schedule.
  3. The student enrolls in courses, generating tuition charges (and other fees). You invoice those charges.
  4. At a certain point in the term, the student withdraws from some or all of his courses.
  5. When the withdrawal occurs, if it's within the timeframe of the refund policy, a pending credit is created for the refundable charges (tuition and any fees marked refundable).
    • Refunds are only calculated for charges that were generated by a tuition schedule or fee rules. If you manually add a fee, the refund policy won’t catch it.
  6. You then invoice those credits, and either apply them to the student's charges or record an outgoing payment.

Refund Policies, whether or not we imported data for you, will be empty when you begin setup. Start by going to Billing > Settings > Refund Policies and clicking Add Refund Policy. Read more about setting up refund policies.

Next: Set up your fees...

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