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Refund Information

From time to time students have a refundable credit balance on their IUPUI student account.  This can be as a result of one or more of the situations.

  • We have received a credit transmission from the Financial Aid Office for you.
  • We have received a bank loan from your loan processor or bank.
  • You have dropped a class.

If one of these actions results in a credit balance on your account, and you are eligible for a refund, we do the following:

  1. We receive credit balance reports following the day of the credit.
  2. We review the report to determine if a refund is appropriate.  For example students must be enrolled in a required number of hours to qualify for certain types of aid and must be enrolled in at least that deferment number of hours at the time we authorize a refund.
  3. Following the review process, we post an entry on the student account.  This entry shows as a charge that reduces the credit balance to $0.  This charge has a description of "Refund", which appears on the student account .  If the payment was made via credit card the refund will also be via credit card and will state "Refund by Credit Card".
  4. On the following morning, we run a process called the "refund queue".  This process takes all refund entries and electronically sends them to the University financial system where they are formatted for check printing.  If you have signed up for Direct Deposit, it is also at this point that the information is formatted for transmission to your bank.
  5. The same afternoon, the financial system routes the formatted check file to the check printing service.  The checks are printed and placed in the mail the same day.  In similar fashion the formatted direct deposit file is sent to the Federal Reserve, where it is available for transmission to all the various banks and credit unions that are applicable.
  6. Direct Deposits could be posted to the student checking account the following day, although the actual processing time is determined at this point by your banking institution.  You are encouraged to check with your banking institution to determine that the funds are on deposit and available.
  7. *Paper checks are sent via first-class postage to the address on file with the Office of the Registrar.

    (*Note: Students are responsible for keeping their address files up-to-date. The Office of the Registrar is responsible for maintaining the security and integrity of the file updates; please click the following link for more information: Please do not use the selection of the "Mail" address type.

More refund information is available below.

  • Direct Deposit  allows you to receive your refund directly into your checking or savings account.  If you have not established your Direct Deposit account, read the following on the processing of your paper refund check.
  • Add two business days to the date shown for the refund check to be queued and printed (or for the processing of your Direct Deposit ), and a reasonable time for the delivery of the refund to you via U.S. mail.
  • Remember that the check will be mailed to the local address you have on file with the can also update your address on-line.
  • Please remember to allow a reasonable time for the mail delivery of your refund.
  • If your refund includes semester financial aid, please note that regulations restrict our earliest disbursement date

It is expected that all aid related refund checks meeting the requirements stated below will be disbursed no later than the first day of classes each semester.

If a credit balance results from the posting of aid, our office authorizes the processing of a refund check for mailing to the student's address on record (or for the processing of Direct Deposit).

These refunds:

  1. Cannot be mailed or direct deposited unless and until all eligibility and timeline requirements have been met by the student.
  2. Cannot be released any earlier than the disbursement "start date" for the semester and are expected to be disbursed by the first day of classes.
  3. Cannot be processed after the "start date" until we receive the proceeds from the Financial Aid Office or your lender   In other words if all necessary transactions have passed to your bursar account in a timely fashion, you may expect to have your aid refund in hand by the first day of classes.  Our office makes every attempt to have refunds processed earlier, but we are restricted by these regulations.

Reasons for possible delays in refunds:

  • No signed Title IV Authorization form on file
  • Eligibility problems:
    • Not enrolled in enough hours
    • Changed class standing
    • Prior term debts
    • Flagged by Student Loan Administration: Past due loan debts, required exit interview, etc.

The "start date" has been established by the federal government as "the 10th day before the official start date for classes).  Please also remember that our office receives new disbursements on a daily basis throughout the semester, so apply early to ensure your earliest possible receipt of funds.

The official Refund Policy is available at: