Guam Sample Letter to College from Student Requesting a Refund Check
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FAQ
Not everyone gets a refund check. Each refund check is different, so the amounts will vary. It all depends on how much financial aid you received and how much your college expenses really cost. You could have anywhere from a couple of hundred dollars, to a couple of stacks left over in financial aid.
Students likely applied that extra income to related expenditures, such as books and supplies, boarding and transportation. Since colleges don't cut financial aid refund checks until after all expenses are paid, they're generally dispersed a few days after the beginning of each semester source: Indiana University.
If students are graduating or not planning on returning, they may request a refund from the school directly. Many colleges are encouraging students to use online portals to make the request.
Generally, your school will give you your grant or loan money in at least two payments called disbursements. In most cases, your school must give you your grant or loan money at least once per term (semester, trimester, or quarter).
But if your loan is larger than your bursar account balance (to include things like books, transportation, etc.), and there's money left over, your school will likely issue that money to you, either as a check or a direct deposit into your bank account. This is commonly referred to as a "student loan refund."
Tuition refunds are typically offered on a sliding scale and most colleges won't give any money back after the fifth week of classes. After that point, students will be hard-pressed to get reimbursed, even if the campus closes and they are sent home.
A refund check is money that is directly given to you from your school, but it's not a gift. It is the excess money left over from your financial aid package after your tuition and fees have been paid.
Once your application has been filed, it'll be sent to your school, and soon thereafter you'll receive a financial aid award offer. If your financial aid award exceeds the amount you owe the school for tuition and other expenses at the time of disbursement, you will receive a financial aid refund.
What is a Financial Aid Refund? Most schools don't give students direct access to their financial aid awards. Instead, they apply the award to tuition and other required costs at the start of the semester. When there's a balance left over, the school issues the student a financial aid refund.
Universities and colleges have been asked to fully refund fees of students on account of cancellations of admissions or migrations that are requested till October 31. This is only for the academic session 2021-2022 as a special case, the University Grants Commission (UGC) has said.
