Refunds

A refund can be processed when a credit balance exists on a student's account as a result of any personal payment, financial aid, scholarship, or a combination of payment types that exceed the total of all University charges and fees.

Please refer to the information below for examples of circumstances where a credit balance exists and the actions our office will take as a result with regard to the refund. The processing timeframe for refunds is 7-10 business days.

eRefund

Our office encourages students who expect to receive a refund to enroll in eRefund, which is also available to Parent PLUS borrowers as well. Please click on the link provided for more information.

Signed up for direct deposit (eRefund)? Your refund will be directly deposited into your bank account within 3-5 business days of processing.
Not signed up for direct deposit (eRefund)? A paper check will be mailed to the billing address on file.

Payment Refunds

Personal check or Web ACH payment

The refund will not be processed for at least ten (10) business days, as this allows time for the payment to clear the bank.

Credit/Debit Card Payment

The refund will be processed to the original credit/debit card utilized for payment as long as the card used is still valid. It may take 5-7 business days from the date the University processes the refund for the credit to appear. Note that if a credit on a student account is created in part by financial aid, the credit/debit card refund will be issued after the financial aid refund is taken into account.

Domestic and International Wires

Refunds are directed to the issuing bank.

Financial Aid and Loan Refunds

Financial Aid Refunds

The refund will be processed only after the University receives the funds from said agency/agencies.

Financial aid is pending disbursement until after the semester begins, the drop/add period has ended, and attendance has been verified for that semester.
Once drop/add has ended for the courses you are registered for in the given semester and course attendance is verified, eligible financial aid funds will begin to disburse to your student account. Refunds will be processed within 7-10 business days of a credit appearing on your student account.

PLUS Loan Refunds

If the credit balance on the student account is the result of a Parent PLUS loan, and the parent did not check the option on the loan application for the student to receive any excess funds and provided a valid address on the loan application, then the refund for the Parent PLUS refund will be designated to the parent.
It is very important to note that parents are not always designated for the refund from a Parent PLUS loan because the Parent PLUS refund MUST be the payment that causes the credit balance on the student account.
Parents receiving a refund from a Direct Parent PLUS Loan will receive a paper check by mail at the address listed on the parent's PLUS Loan application, unless the parent enrolls in eRefund.

Using Title IV Financial Aid Funds to Pay Prior Year Charges

Because of federal financial aid regulations, Rowan University only can automatically apply a maximum of $200.00 from the current academic year to pay any outstanding prior year charges. A financial hold will remain on your student account until the outstanding balance is resolved, which would restrict various University services.

Federal Title IV Authorization

Federal regulations require Federal Title IV funds to be used for allowable educationally related charges such as tuition, mandatory fees, and food and housing (for on-campus students). Other educationally related charges, such as health insurance, book vouchers, parking, library fines, etc. are not automatically paid by Title IV funds and need authorization from the student. Federal Title IV funds include Federal Pell Grant, Federal Supplemental Educational Opportunity Grant (FSEOG), Federal Direct Subsidized/Unsubsidized Loans, and the Federal Direct Graduate PLUS loan.

As required by the Higher Education Act, any Title IV funds that exceed the allowable charges for tuition, mandatory fees, and food and housing (for on-campus students) and generate a Title IV credit balance, must be refunded to the student. Federal regulations, however, permit schools to obtain a voluntary authorization from the student that allow the credit balance from Federal Title IV funds to be applied to other educationally related charges for the current year, including but not limited to, health insurance, book vouchers, parking, library fines, etc. This student authorization can additionally allow for the payment of up to $200 of other prior year charges. Late fees, payment plan fees, etc. are, however, not considered educationally related charges and will not be covered under this agreement.

Please note this authorization is voluntary and may be canceled/modified at any time by submitting a Title IV Authorization Form to the Office of the Bursar. Any such cancellation/modification, submitted as an update, is not retroactive and will take effect on the date the form is received by the Office of the Bursar. Previous requests will become void.

Institutional Scholarship Funds Refund Policy

Institutional scholarship funds will be applied toward direct costs including tuition, fees, on campus housing, and board for fall and spring semesters only. Institutional scholarship funds cannot be used to purchase Rowan Bucks that are not connected to a University meal plan.

In the event a student has institutional scholarship funds remaining after their direct costs have been covered, the student will not receive a credit balance on their account nor will they be issued a refund.