Receiving a Refund
If eligible, you will receive a refund if you have an excess of funds in your account from financial aid credit (federal, state, and institutional aid) after all direct educational expenses have been paid (tuition, fees, etc.). Account refunds are generated at specific times throughout the semester.
Most account credits happen because federal student loan disbursements occur 21 days after the start of your sixth credit hour (third credit hour for doctoral students). Eligible credits are scheduled to be refunded 4 business days after disbursements. However, schools are permitted by the U.S. Department of Education up to 14 days to process refunds.
Financial Check-In (FCI) provides you with two credit-management options:
- Selecting “Refund my credit” authorizes Liberty University to process a refund created by an excess of federal aid. You can choose a refund option from our refund management provider, BankMobile. For more information about BankMobile, visit this link: http://bankmobiledisbursements.com/refundchoicessso/.
If you need assistance, please contact ID & Campus Services.
- Selecting “Hold my credit” authorizes Liberty University to hold any excess aid from federal aid disbursements on their account for future charges. We will not process a refund created by a federal aid disbursement if the student authorizes Liberty University to hold a credit balance.
- If there is a credit balance from federal aid on a student account, it must be refunded to the student or returned to the U.S. Department of Education before the end of each academic year.
Federal Parent PLUS Loans
The parent borrower receives the refund through a mailed paper check unless the parent borrower completes a Federal PLUS Loan Change Form requesting the refund be sent to the student’s account or requests to reduce the loan to not allow for a credit.
For credit balances not made up of federal aid, you may submit a refund request to the Student Accounts Office. A refund from credit or debit card payments will be refunded back to the original payment card.