Financial Aid Refunds
Financial Aid refunds are processed after the beginning of the semester, to ensure students are in attendance. After Financial Aid applies to the student account, a refund (either direct deposit or check) is processed automatically. Direct deposits into the student's bank account is processed two times weekly. If a student is not enrolled with a bank account on file, a check will be mailed to the permanent address which is processed once per week.
Financial Aid refunds from Federal Title IV Funding cannot pay a previous term balance of more than $200 from tuition, room or board between academic years. Students may receive a refund but still owe a balance from a previous term. To avoid holds and late fees, the remaining balance should be paid to the University.
Miscellaneous Refunds
Any changes or adjustments to a student's account during the semester (e.g., meal plans changes, housing changes, tuition adjustments, etc.) may result in a credit balance. If the student is eligible for a refund, the Business Office must be notified, as a refund check, direct deposit refund, or credit to a credit card will not automatically be processed.
The student account will be reviewed to ensure all charges are paid before final disposition is taken on account credit balance. If it is determined that the student is entitled to a refund, action will be taken to initiate a refund.
If the credit is a result of a credit card payment, the credit balance will be placed back towards that payment method.
If the credit is not the result of a credit card payment, students enrolled with a direct deposit account available will have their credit balance returned to their bank account. If a direct deposit account is not available, a check will be mailed to the student's permanent address.
Housing Contract Guarantee Refunds
Whenever a student moves out of a hall, the disposition (e.g., forfeit, refund or hold) of the housing contract guarantee is initiated by Residential Life and reported to the Business Office for action. No action on the housing contract guarantee will be taken until all Ferris State University departments have completed their processing action.
If the student is entitled to a refund and there is an account balance, the housing contract guarantee will be applied to the student's account to off-set unpaid and/or unbilled charges (e.g., tuition, telephone, parking tickets, health center, bookstore, emergency loans, etc.)
Any remaining portion or the entire (student accounts with no outstanding unbilled or unpaid charges) housing contract guarantee balance will be refunded and mailed to the student permanent address or direct deposited into the student's bank account, if available.
Please review your Housing
and Dining Contract to obtain additional information regarding the housing contract guarantee or contract cancellation processes.
Tuition, Housing, and Meals - Refund Schedule for Total Withdrawals
Refund schedule for charges when processing a total withdrawal from the University (all courses):
