Credit Refund Policy
Augsburg students may be eligible to receive a credit refund if their financial aid exceeds tuition and fee charges for a term. Credit Refunds are issued within two weeks after the last day to drop courses without recorded notation. All aid needs to be finalized (You can verify your financial aid status online through Track Your Financial Aid) and applied to a student’s account (Check your Transaction History online to verify all of your financial aid has been applied to your account and nothing is left pending) before the Credit Refund can be issued. You may sign up for eRefund and have your Credit Refund directly deposited into a checking or saving account.
Changes in enrollment status, housing status, and program status may affect financial aid eligibility and credit refund amounts. Students who are enrolled less than half-time (less than 6.0 credits for undergraduates, less than 3.0 credit for graduates) may not be eligible for financial aid; however, students may apply for private alternative loans. Registration changes made from the first week of the term through midterm may require a return of financial aid funds. Students who drop courses may receive a tuition refund, but some forms of financial aid may have to be adjusted before a refund will be available. Financial aid return of funds may take up to 45 days to be processed.
**Financial aid will not be applied to your student account until after classes have started. If you are taking times 2 courses only, your refund will not be available until approximately 2-3 weeks after your course begins.
When will I receive my credit refund?
Summer 2016 Refunds by May 30th**
Fall 2016 Refunds by September 26th
Spring 2017 Refunds by February 6th
How will I receive my credit refund?
Sign up for Direct Deposit. If you create a direct deposit account through your Augnet student account, funds will be deposited directly into your designated bank account any time a credit balance appears on your student account due to an aid disbursement, overpayment, tuition/fee refund, or a returned housing deposit. To receive your eRefund by the scheduled date, you must sign up for an eRefund 2 weeks prior to the scheduled refund date. If you sign up, within 2 weeks of the scheduled refund, Augsburg cannot guarantee that you will receive the refund electronically. Sign up now
Refund Checks Mailed. Refund checks will automatically be mailed to the permanent address of any student who does not sign up for direct deposit. Students may not be pick up their check at the Enrollment Center. Please verify your permanent address is correct prior to refunds being issued.
Do I have a credit refund?
Check your account transaction history in AugNet Records & Registration to see if a Credit Refund is posted to your account.
Refund checks after the initial disbursement:
If a refund is available after the initial distribution date, due to the receipt of additional aid, changes in registration, or other account adjustments, it will be issued on Fridays.
Federal Direct Parent PLUS Loan
The Federal Direct Parent PLUS funds are applied to the student’s tuition and fees first, and then the student’s other financial aid funds are applied (even if the Parent PLUS Loan is applied after other pieces of financial aid). If a Federal Direct Parent PLUS Loan exceeds the student’s charges, the refund will be issued to the Parent.
If you have any questions regarding our refund policy, please contact the Office of Student Financial Services at 612-330-1046 or email us at firstname.lastname@example.org.