The purpose of this policy and procedure is to describe the processing of student refund checks by the Bursar's Office. Refunds may be required due to the application of financial aid to student accounts, overpayments, withdrawals, canceled classes, or from adjustments to fees or other charges. The Director of Financial Aid, Dean of Admissions and Records, Executive Director of the Foundation, and Athletics Compliance Coordinator are responsible for the timely review of refund reports and taking appropriate actions. The University issues refunds beginning the third day of the term and as often as twice a week throughout the term to students with credit balances.
Refunds are either system-generated or manual.
System-generated refunds are those automatically updated in SIS when the refund program is run, then fed to FRS to print the physical checks. All accounts will be reviewed by the Cashiers and Third Party Account Clerk for holds on SIS Screen 448, and for any needed adjustments. Students with Minority Scholarships, Presidential Scholarships, Academic Work, and Stafford Loans are also identified for review by the Offices of Financial Aid, Admissions and Records, and the TSU Foundation. Students who have Stafford or PLUS Loans credited to their accounts, but are not enrolled in at least six credit hours, are shown on the report for review by the Cashiers. Adjustments to student aid are to be made by the appropriate office prior to the scheduled check run.