Business and Financial Services

Student Accounts

Refund Policy

Undergraduate General Refund Policy

Students who officially withdraw or take an official leave of absence from the University are required to submit paperwork to the Dean of Student's Office. A student who officially withdraws from the University, or takes a leave of absence by the final day of Add/Drop will receive a 100% refund on tuition and mandatory fees, and will be charged a daily rate on room and board if those services were availed of; after Add/Drop, but before the end of the first quarter of the semester, he or she will be charged 50 percent on tuition, room, board, and mandatory fees; after the first quarter, but before the end of the second quarter, he or she will be charged 75 percent. There is no reduction in charges after the second quarter of the semester.  If a student is suspended, dismissed, or expelled from the University, there will be no reduction in charges.

Day Spring 2016 Full Term Refund Schedule
Start Date End Date Refund %
November 2, 2015 January 28, 2016 100%
January 29, 2016 February 13, 2016 50%
February 14, 2016 March 18, 2016 25%
March 19, 2016 May 10, 2016 0%
Day Part of Term A Spring 2016 Refund Schedule
Start Date End Date Refund %
November 2, 2015 January 28, 2016 100%
January 29, 2016 January 29, 2016 50%
January 30, 2016 February 10, 2016 25%
February 11, 2016 March 4, 2016 0%
Day Part of Term B Spring 2016 Refund Schedule
Start Date End Date Refund %
March 14, 2016 March 23, 2016 100%
March 24, 2016 March 28, 2016 50%
March 29, 2016 April 11, 2016 25%
April 12, 2016 May 10, 2016 0%

 

Graduate General Refund Policy

A student who officially withdraws from a course or the University, or takes a leave of absence by the final day of Add/Drop will receive a 100% refund; after Add/Drop, but before the end of the first quarter of the semester, he or she will be charged 50 percent, after the first quarter, but before the end of the second quarter, he or she will be charged 75 percent. There is no reduction in charges after the second quarter of the semester.  If a student is suspended, dismissed, or expelled from the University, there will be no reduction in charges.

GSOM Spring 2016 Refund Schedule  
Start Date End Date Refund %
November 2, 2015 January 28, 2016 100%
January 29, 2016 February 11, 2016 50%
February 12, 2016 March 6, 2016 25%
March 7, 2016 April 28, 2016 0%
GSOM Part of Term A Spring 2016 Refund Schedule
Start Date End Date Refund %
November 2, 2015 January 28, 2016 100%
January 29, 2016 January 29, 2016 50%
January 30, 2016 February 10, 2016 25%
February 11, 2016 March 3, 2016 0%
GSOM Part of Term B Spring 2016 Refund Schedule
Start Date End Date Refund %
March 14, 2016 March 23, 2016 100%
March 24, 2016 March 25, 2016 50%
March 26, 2016 April 5, 2016 25%
April 6, 2016 April 28, 2016 0%
GSOM Intersession Spring 2016 Refund Schedule
Start Date End Date Refund %
November 2, 2015 January 3, 2016 100%
January 4, 2016 January 8, 2016 50%
January 9, 2016 January 13, 2016 25%
January 14, 2016 January 23, 2016 0%

 

COPACE General Refund Policy

A student who officially withdraws from a course or the University, or takes a leave of absence by the final day of Add/Drop will receive a 100% refund; after Add/Drop, but before the end of the first quarter of the semester, he or she will be charged 50 percent, after the first quarter, but before the end of the second quarter, he or she will be charged 75 percent. There is no reduction in charges after the second quarter of the semester.  If a student is suspended, dismissed, or expelled from the University, there will be no reduction in charges.

COPACE Spring 2016 Refund Schedule
Start Date End Date Refund %
December 1, 2015 January 28, 2016 100%
January 29, 2016 February 12, 2016 50%
February 13, 2016 March 13, 2016 25%
March 14, 2016 May 2, 2016 0%
ALCI Spring 2016 Refund Schedule
Start Date End Date Refund %
December 1, 2015 January 18, 2016 100%
January 19, 2016 January 28, 2016 90%
January 29, 2016 February 11, 2016 50%
February 12, 2016 March 6, 2016 25%
March 7, 2016 April 27, 2016 0%

 

Medical Refund Policy

If a student's doctor recommends that he/she leave the University for medical reasons within the first half of the semester, and later a decision is made that the student must officially withdraw, charges are calculated in accordance with the schedule above based on the date of the doctor's initial recommendation that the student leave the University. The doctor's letter must be an original on letterhead.

Where will my refund be sent?

Direct Deposit

You have the power to indicate where you want your refund check to be sent.  Direct deposit is a safe and easy way to have funds deposited directly into an account at the financial institution of your choice in the United States. Students can use Direct Deposit for Student Accounts Refunds, Fellowship Stipends, Travel Reimbursement, and Payroll Wages.

Benefits from Direct Deposit

  • No lost or stolen checks or delay with the mail
  • No running to the bank to deposit your funds and waiting for the check to clear
  • No checking your student mail box to see if the check has arrived
  • No special arrangements or fear of not receiving your money because you’re not on campus, studying abroad, or not moved into your apartment yet
  • No need to go to your department to pick up fellowship stipend checks
  • You’re in control

How to set up Direct Deposit

Fill-out the fillable Student Direct Deposit Authorization Form. Please note that this form must be printed, signed and returned to:

  • Payroll Department - Graduate Payroll/Student Account Refunds
  • Financial Aid Department - Undergrad Payroll/Student Account Refunds

Please allow a week for processing. Once received, each refund a student requests afterwards will be deposited into the student's bank account instead of a paper check being mailed. 

Direct Deposit FAQs

Q: How is money deposited into my account?
A: The University's bank will electronically instruct your financial institution to credit your account for the amount owed to you on the predetermined date.  Your financial institution then deposits this money into your account and charges the University's bank account.  You may have an account at almost any financial institution in the United States. 

Q: How can I be sure my deposit was made?
A: If you are receiving a direct deposit, you will receive an e-mail message to your Clark email account. The deposit will be reflected on your monthly statements from your financial institution.

Q: If I already have a direct deposit on file with the Payroll Department, do I need to file an additional one with the Student Accounts Department?
A: Yes, it is a different form and must be submitted to the Financial Aid Department for Undergraduates and to the Payroll Department for Grad students.

Q: What if I terminate or close my account?
A: Update your banking information by completing a new fillable Student Direct Deposit Authorization Form. Please do not close your account until the updated paperwork has been submitted. If the account is closed beforehand, it will delay receiving any refund in process.

Q: How do I make changes for direct deposit?
A: Update your banking information by completing a new fillable Student Direct Deposit Authorization Form.

Q: Do I need a bank account to use direct deposit?
A: Yes. A US bank account is necessary for you to receive direct deposit payments. Some financial institutions offer free or low-cost checking or savings accounts when you use direct deposit.

Q: With direct deposit, can the University take money out of my account or obtain confidential information about me through my deposit?
A: No!  Only you can approve the withdrawal of money from your account. The University cannot obtain your account balance or any other personal information. They only have access to the information you provided when you signed up for Direct Deposit.  Receiving your money through direct deposit is more confidential than being paid by check because fewer people are involved in the delivery and deposit of your payment. Note: Within a limited time, if it is determined that the refund was issued in error we will reverse the amount.

Paper Check

If you prefer a paper check, you can add, update, and remove your refund address through CU Web.

Instructions:

  • Log into CU Web
  • Click Personal Information Tab from the main page
  • Select Update Address(es) and Phone(s)
  • Select Refund Address from drop down menu at bottom of page
  • Submit
  • Enter refund address.  Note:  “Valid from this date” is a required field
  • Submit

If you do not add a refund address, your refund will be sent to your campus mailbox, or department.  If you do not have a campus mailbox or specific department address, your refund will be mailed to your home address.

If you have any questions, please contact the Student Accounts Office at 508-421-3801.

Best regards,

The Student Accounts Office