The University’s policy is to monitor credit balances daily as they are created in student accounts; Shorter University also reviews student accounts for accuracy of charges and funds posted, as well as possible pending charges.
Credit Balances and Refunds due to Title IV Federal Student Aid:
The University will automatically issue refunds for eligible credit balances related to Title IV Federal Student Aid funds.
Credit balances related to Title IV federal aid funds, per federal regulations, must be refunded no later than 14 days after:
- The date the credit balance occurred on the student’s account
Credit balances related to Title IV funds are always refunded, except that, the University will hold credit balances in a student’s account across terms within the same award year if the student (or parent borrower for Parent Plus Loans recipients) provides prior written authorization.
Refunds are issued via a paper check. Refund checks for students will be mailed to the student’s address on the University’s system (Jenzabar). Students can sign up for direct deposit through the Scholar portal by using checking/savings information.
In the event of a complete withdrawal, the institution will calculate a refund through the 60% point of the semester. After 60% of the semester has been completed, there will be no refund of tuition. A refund is calculated by dividing the date of withdrawal by the number of federally defined days in the semester. Board fees will be refunded on a pro-rata basis. There is no refund of room after the fifth day of class. Refunds for students receiving federal aid will be calculated using the current federal policy.
All charges for tuition and fees for a class are refundable if the student withdraws from the class during the first week; otherwise, the tuition and fees are non-refundable.