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A student’s account reflects charges and fees, as well as payments and financial aid. When there is an excess of credit amounts greater than the debit amounts, a credit balance exists.

A federal credit balance (or Title IV credit balance) exists when the total amount of Title IV federal student aid exceeds the allowable charges for the semester.

When a credit balance exists on a student account, as the result of an overpayment or from financial aid funds, a refund may be available to the student by the 10th day of classes. Accounts are only eligible for refund after all grant or loan funds have been received and processed by the Financial Aid Office and the Business Office. An automatic refund will be issued if the credit balance is a Title IV credit balance.

To otherwise receive a refund, a student check request form must be submitted to the Business Office each semester. This form can be completed within the student portal. Refunds will be issued weekly.

When a student leaves the University and a credit balance remains on the student account, that balance will be applied to any institutional debt if applicable. Otherwise, the balance will be refunded to the student.

In cases where there is a conflict in policies and procedures, the following shall be the order of compliance: Federal regulations, state regulations, and lastly, King policies and procedures. For example, Section N of 8VAC40-31-160 (SCHEV Regulations) takes precedence over the University’s refund policy unless the regulation conflicts with Federal regulations.