Financial Aid Refunds
Adult, Online, and Graduate Students
(Students enrolled in the College of Adult and Graduate Studies formerly known as AIM)
Qualified students can receive a refund from their student accounts after the following three requirements have been met:
- One course has been completed in the semester with a passing grade.
- Student continues to actively participate1 in registered courses.
- Enough financial aid has been received to exceed the semester charges.
Refund preference should be noted on the Student Authorization to Retain Funds form.
Impact of Withdrawal on Financial Aid and Financial Aid Refunds
In accordance with 34 §668.22, Ohio Christian University is responsible for adjusting financial aid when a student withdraws from a course or withdraws from a semester.
Excerpts from 34 §668.22:
When a recipient of title IV grant or loan assistance withdraws from an institution during a payment period or period of enrollment in which the recipient began attendance, the institution must determine the amount of title IV grant or loan assistance that the student earned as of the student's withdrawal date.
Timeframe for the return of title IV funds. An institution must return the amount of title IV funds for which it is responsible as soon as possible after the determination that the student withdrew.
Excerpt from 2012-13 Student Federal Student Aid Handbook (Volume 5 Chapter 1 p. 5-19) regarding new deadline for managing credit balances when a student has withdrawn:
In most cases, the cash management regulations require a school to refund within 14 days. However, when a student withdraws, a school is required to perform a Return calculation to determine, among other things, whether adjustments to the credit balance will occur. For this reason, the 14-day payment requirement is placed on hold in order to determine the final amount of any Title IV credit balance. The school is not required to obtain a student’s or parent’s authorization to hold a Title IV credit balance that existed prior to the Return calculation (beyond the original 14-day deadline) while you determine the final amount of credit balance.
Students exceeding the allowed absences will be given a withdrawal grade regardless of the circumstances. A withdrawal grade requires the OCU Financial Aid Office return Title IV, state and institutional aid to reflect the change in enrollment status. Please review OCU’s absence and tardy policies in the Ohio Christian University Academic Catalog for more details.
Example scenario, a student registers full-time with Ohio Christian University. The student passes the first class, but is unable to attend the second class in the semester. The student notifies the Academic Advisor to withdraw the student from the second course. The Financial Aid office is notified of the withdrawal and adjustments are made so that the financial aid on the student’s account reflects the enrollment status of the student. After the required amount of financial aid is returned to the Federal Government, if a credit still remains, the excess funds are sent to the student.
Traditional Undergraduate Students
Qualified students can receive a refund from their student accounts upon request to and approval from the Financial Aid office. All aid must be received for the semester before a refund will be approved. Refund preference should be noted on the Student Authorization to Retain Funds form.
For policies governing tuition refunds, please see Online and Out of State Refund and Tuition Charges.