If your student account shows a credit balance, you may be entitled to receive a refund. Student Financial Services processes credit balance refunds on a weekly basis.
Credit Balance Policy
A credit balance occurs when funds that are credited to a student’s account (such as cash, federal and state financial aid, scholarships, etc.) exceed the amount of institutional charges such as tuition, fees, room and board. Federal regulations require the institution to refund excess federal funds to the student within 14 days of the date the credit balance occurs. Credit balances created by institutional scholarships are not refunded. Morehouse reserves the right to adjust institutional scholarship awards to reduce a credit balance.
General Refund Method
Student refunds are direct deposited into your checking or savings account.
To enroll in direct deposit, complete the SFS Direct Deposit Enrollment form and submit it to our office.
Once your refund is processed, we are unable to stop it from going to the bank account on file when processed. If your refund is rejected due to incorrect banking information, it may take 7 to 10 business days to reissue your refund.
Parent PLUS Loan Refunds
Credit balances created by PLUS loan funds are refunded based on the preference indicated by the parent on the federal student aid PLUS loan application. Parents have the option to either have the credit balance refunded to the student via direct deposit, or to the parent via a paper check.
Credit Card Refunds
If your student account balance is paid with a credit card and you later have a credit balance due to you, your credit balance will be refunded first to the credit card used to make payment on your account up to the amount of the credit card payment made. We will direct deposit any additional credit balance due to you after processing the credit card refund.
Withdrawal Refund Policy
Not attending classes for which you register does not entitle you to reversal or credit of your tuition charges. You must drop your classes before the withdrawal period begins or withdraw during the withdrawal period for each semester in order to receive a credit for refundable tuition charges.
Please note that the Federal Department of Education financial aid return policies are different. If you withdraw from Morehouse College you may no longer be eligible for federal financial aid or institutional aid.