Refunds of Tuition
Dropping a CourseStudents will be assessed tuition according to the number of credits for which they are registered on the second Wednesday of the semester. Refunds for enrolled students who change credit status downward or drop a course with a course/lab fee will have tuition and course/lab fees refunded according to the following schedule:
Withdrawal from the University (or dropping all courses)
Students withdrawing from the University, or dropping all courses, will receive
a refund according to the following schedule:
Room and Board Refunds
Refunds of room and board charges will be pro-rated on the basis of the number of weeks used.
Refunds may be direct deposited into your checking or savings account or checks will be mailed. Checks are not available for pickup.
Avoid lost or stolen checks and delayed funds by signing up for direct deposit.
Credit balance refunds will be issued during the third week of each semester. Credit balance refunds as a result of Federal Direct Loan proceeds will be initiated when the credit appears on the student’s account.
Refund checks will be processed once a week. Direct deposits will be processed daily and available in the recipient account 2 business days after it appears on the student account.
Refund checks will be mailed on Thursday for those refunds initiated during the prior Thursday to Wednesday.
The refund checks processed during the third week of classes will be mailed on Wednesday.
Students are responsible to verify their correct mailing address. This can be done on Banweb: choose "Personal Information", then "View Address(es) and Phone(s)". Corrections can be done by selecting "Update Address(es) and Phone(s)". A $10 fee will be assessed to the student’s account if he/she requests a stop payment and reissue of a credit balance check if the request comes within 15 days from the date of issue. No fee will be assessed if the request comes after the 15 day period.
Refunding Procedure with Credit Card Payment
During the first three weeks of a semester, if a credit balance exists on a student account and a credit card payment was made to the account for the same semester, the credit card account is refunded. Beyond the third week, if a credit balance exists as a result of additional financial aid, the student is refunded via check or direct deposit. If the credit balance is the result of returned services (tuition, fees, housing, etc.) and a credit card payment was made, the credit card account is refunded.
MTU - Accounting Services
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