Skip to main contentSkip to main navigationSkip to footer content

Credits and Refunds

Excess Credit Refunds

If financial aid amounts disbursed to your account exceed your charges, the excess credit will be refunded to you. Students can also request a credit balance to be transferred to pay another term within the school year by sending an email to the Office of Student Accounts. The Office of Student Accounts begins to review and process refunds after the Add/Drop period ends but may be processed up to 14 days after the credit balance occurs. Paper check refunds will be available for pick up in Student Accounts during Monday to Friday office hours the following business day after the refund is issued. A refund will be issued via a direct deposit e-check if banking information is saved in Student Self-Service. Direct deposit funds are usually available within two banking days in the student's checking account but can vary depending on your bank.

The Office of Student Accounts is not responsible for delays in the event that the electronic transfer of your refund is rejected due to account closed, cannot locate bank account or invalid account number. We will reprocess your refund with a paper check and the student will be notified to pick up the check in the Office of Student Accounts the following business day after the refund is reissued. Checks must be picked up by the student and a student ID or driver's license is required for all check pick ups. Lost, stolen or destroyed checks should be reported to the Office of Student Accounts and the student will be required to complete a check affidavit document for a reissue to be processed.

Return of Unearned Title IV Federal Financial Aid

Title IV funds are awarded to a student under the assumption that the student will attend school for the entire period for which the assistance was awarded. If a student withdraws, either officially or unofficially, on or before completing 60% of the term, and received Title IV federal funds, federal regulations require that we review eligibility for those funds and return any unearned portion.

Return Policy

The amount to be returned is calculated from the date the student officially withdrew from all classes or unofficially withdrew from the term. Official withdrawals are initiated by contacting the Office of Records and Registration to indicate withdraw, or by dropping all courses online through Self Service. An unofficial withdrawal occurs when the student stops attending all classes but does not officially withdraw or notify the University. In this case, the withdrawal date is considered to be the midpoint of the semester (unless a documented last date of attendance can be determined).

Eligibility is determined by calculating the amount of Title IV funds earned by the student. If the amount disbursed to the student is greater than the amount earned, unearned funds must be returned. If the amount disbursed to the student is less than the amount earned, and for which the student is otherwise eligible, the student may receive a post-withdrawal disbursement of the earned aid that was not yet received.

Unearned Funds

  1. All unearned funds are returned as soon as possible but no later than 45 days from the determination of a student's withdrawal.
  2. If the calculation results in an amount to be returned that exceeds the school's portion, the student must repay some funds.

Post Withdrawal Disbursement Policy

  1. Grant funds will be disbursed as soon as possible, but no later than 45 days from the determination of the withdrawal.
  2. Loan funds are offered to the student within 30 days, allowing the student at least 14 days to respond to accept or decline the funds.
  3. If the calculation results in a credit balance on the student's account, the credit balance is disbursed as soon as possible, but no later than 14 days after the calculation.

Return Determination

The following steps will be followed when determining the amount of Title IV aid to be returned:
  1. Determine the percentage of the enrollment period completed by dividing the number of days attended, by the number of days in the enrollment period. If the calculated percentage exceeds 60%, then the student has earned all of their Title IV aid received for the term.
  2. Calculate the amount earned by multiplying the percentage of the enrollment period completed, by the Title IV aid disbursed (or could have been disbursed).
  3. Determine the amount of unearned aid to be returned by subtracting the amount of earned Title IV aid from the Title IV aid disbursed (or could have been disbursed).
  4. Unearned Title IV Aid is returned to the federal programs in the following order
    1. Unsubsidized Direct Loan
    2. Subsidized Direct Loan
    3. Federal Parent PLUS Loan
    4. Federal Pell Grants
    5. Federal Iraq and Afghanistan Service Grants
    6. Federal Supplemental Education Opportunity Grant
    7. Federal TEACH Grants

Return Sample

Charges and Aid:
Institutional Charges $15,000
Title IV Loans $3,000
Title IV Grants $3,200
Total Title IV Aid $6,200
Student Withdrew on the 22nd Day of a 110-Day Enrollment Period:
Percent Earned 22/110 = 20%
Percent Unearned 100% - 20% = 80%
Amount of Title IV Aid Unearned $6,200 X 80% = $4960
Amount Returned is the Lesser of Unearned Title IV Aid $4,960 (calculated above) or Unearned Institutional Charges:
  $15,000 X 80% = $12,000
Title IV Aid Returned is as Follows:
Title IV Loans $3,000
Title IV Grants $1,960

Withdrawal and Tuition Refunds

Students are held financially responsible for full tuition for all courses in which they enroll. Students are responsible for knowing the appropriate refund and withdrawal dates each semester. The schedule for refunds is available in the Office of Student Accounts, the Office of Records and Registration, and is published in the class schedule each semester.

Students are responsible for officially withdrawing from a course via Self-Service on mySXU or in the Office of Records and Registration. Nonattendance in a course does not constitute an official withdrawal. Notifying the instructor or ceasing to attend the class does not constitute an official withdrawal. Students who do not officially withdraw are held responsible both academically and financially for that class.

Tuition Refunds are given only when students officially withdraw within the refund period.

Number of Weeks Class Meets: 100% Refund within:
14 weeks or more 14 calendar days, counting the start date
5 to 13 weeks 10 calendar days, counting the start date
4 weeks or less 3 calendar days, counting the start date

Condensed session or short term courses may be different. See the Office of Records and Registration for refund dates of course sections which meet during nontraditional time frames.

housing and food Refunds

Housing and food charges are normally pro-rated until the add/drop date for the semester. After this time, no refunds will be given. Residents may refer to the housing agreement for further information.

E-Check

 

Sign up for e-check with Saint Xavier University and your refund from the Office of Student Accounts will be direct deposited into your bank account. This service for all Saint Xavier students will:

  • reduce the time waiting for your refund
  • eliminate going to the bank
  • eliminate lost checks

Enter your bank account information in Self-Service on mySXU today. In Student Self-Service, go to Banking Information.

Questions?

Contact the the Office of Student Accounts at 773-298-3046.