From: Ralph, Judith C (JRalph@otterbein.edu)
Date: Thu Jan 23 2003 - 08:50:21 EST
Our Fin Aid Office times the Title 4 disbursements (including the loan
proceeds) to the student account to the day after the 100% refund period
ends, the second Tuesday of the term. We then issue refunds on the second
Friday of each term, which allows use to comply with the 3 day regulation of
delivering the funds. We never issue refunds of T4 until the 100% refund
period ends, but the trick to this whole scenerio is the timimg of the
disbursements by the Fin Aid Office. When we do the initial billing for
each term, usually about 6 weeks prior to the start, we allow students to
deduct their fin aid if the award is complete and pay only the difference
not covered by their aid.
Judy Ralph
Student Accounts Manager
Otterbein College
Westerville, Ohio
-----Original Message-----
From: Cindy Shelton [mailto:sheltonck@appstate.edu]
Sent: Wednesday, January 22, 2003 4:44 PM
To: bursar-l@virginia.edu
Subject: Financial Aid Refunds
Hello Fellow Bursars and Student Accounts Directors!
I hope you all are surviving the beginning of the spring term rush. I'm
having a little problem at my institution and would like to know if any
of you have the same issue. Currently, our Financial Aid Office feeds
any and all types of aid to students' accounts 10 days before the term
begins. We then have refunds available to students on Registration day,
which is two days before classes start. Recently, this has caused big
problems because students are dropping/adding hours, aid is being taken
away, meal options are being added for off-campus students, etc. during
the first week and a half of classes. Even worse, we are having
students pick up refund checks and then withdraw.
How many of you do what I described above and how many of you wait until
after the drop/add period to make refunds available? I would like to
change our refund policy but will need input from other institutions
before my administration will make a decision.
Thanks, in advance, for your responses!
Cindy Shelton
Director of Student Accounts
Appalachian State University
(4 year public)
Boone, NC
828-262-6420
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