College of DuPage resolves eligible student account credit balances in accordance with all applicable regulations.
Student Account Credit Balances
A credit balance results when the total amount of credits applied to a student account (i.e. payments, grant and/or loan disbursements, scholarships, etc.) exceeds the total semester charges.
Anticipated funds, including anticipated financial aid and student payments, are not considered credits to a student’s account until the funds have been applied to the account.
Types of Student Account Credit Balances
A student account credit balance may result from several sources, including personal funds; Title IV Federal Student Aid; and Non-Title IV Funds, such as private loans and grants, and other external awards. Credit balances may also be related to and affected by changes in a student's enrollment status and/or financial aid eligibility during a semester.
Student Account Credit Balances Resulting from Title IV Federal Student Aid
College of DuPage will credit Title IV Federal Student Aid (Title IV) to a student’s account only against allowable institutional charges, including: (1) current charges for tuition and fees, (2) educationally related prior-year charges, up to and not exceeding $200, (3) other educationally related charges incurred by the student with the student’s written authorization.
If the total amount of Title IV credited to a student’s account exceeds the aforementioned allowable institutional charges, a student account credit balance will occur.
Student Account Refunds
College of DuPage regularly monitors student account credit balances and reviews accounts for accuracy of charges and funds posted. Student account refunds are issued no later than 14 days after the credit balance was generated on the student’s account, provided the credit balance occurs in a current or prior semester. The refund schedule may be adjusted due to campus closures and/or holidays.
Credit balances in future semesters will not automatically be refunded to the student until after the start of the semester. If a credit balance exists in a future semester due to Non-Title IV funds and no additional changes will be made to the student account for the applicable semester, an expedited refund may be requested by sending an email to the Cashier’s Office from your student email account denoting the request, the term, your name, and your student ID.
College of DuPage provides notification via email to students when refunds are issued on a student’s account.
Student account refunds may be issued via direct deposit, credit card, or paper check. College of DuPage’s preferred refund method is direct deposit (also known as eRefunds). Enrollment in eRefunds is free and can be done through myACCESS.cod.edu.
If a refund issued via direct deposit is returned by the bank to College of DuPage, the eRefund profile will be removed, the student will be notified via email, and the refund will be issued the following week. The student will have to reenroll in eRefunds to receive direct deposits going forward.
Credit balances resulting from credit card payments will be attempted to be refunded to the original card used to make a payment on the student account, provided the payment occurred within 60 days of the refund date.
Account Balances, Returns, Payments
In some cases, if a student account refund is issued and a balance is subsequently created on the student’s account, it is the student’s responsibility to return the funds to College of DuPage or pay the balance in accordance with the College’s billing and payments policies, including any applicable penalties and late fees.
Berg Instructional Center (BIC), Room 2424
Monday to Thursday 8 a.m. to 7 p.m.
Phone: (630) 942-2206
Fax: (630) 942-2909