Refund Resulting from Financial Aid
If the posting of your student aid or loan results in a credit balance, a refund is automatically generated and issued to you, unless there is a hold on your account. Holds can be viewed in the Albert Student Center. If your account is paid partly by a Parent Plus Loan and results in a credit balance, the refund check is issued to the borrower of the loan to the extent of the PLUS Loan processed.
Federal regulations require that any excess PLUS Loan funds be issued or refunded to the parent. However, the parent may authorize New York University in writing to transfer or refund the proceeds of a PLUS Loan to a student directly. Written authorizations may be sent to the Office of the Bursar and are valid for one aid year only.
Note: Some charges may still be present on the University bill even though a refund was issued. Federal regulations allow New York University to apply Title IV funds (Stafford, PLUS, PELL, SEOG, etc.) to pay the student’s tuition, registration and services fees, and room and board charges.
Non-institutional charges such as finance charges, late payments fees, etc. cannot be paid from your TITLE IV aid. This may result in a refund being generated leaving an outstanding balance on your account for which you are responsible for paying. Students receiving TITLE IV aid who withdraw completely may be billed for remaining NYU account balance resulting from the mandatory return of funds to the U.S. government. Students are responsible for reviewing their bill and ensuring that all charges are paid by the due date.
Summer Financial Aid
Summer financial aid is released in two disbursements. The first disbursement is approximately 10 days before the start of your first summer class and the second disbursement is after July 1st. Please view your individual class schedule on Albert to determine the date of your first summer class which your disbursement will be based on.
Your first disbursement will first cover any items on your Bursar bill and if any is left over it would be issued to you as a refund to use for non-billed educational expenses. If your first disbursement does not cover your entire bill, then any refund you may be expecting would not be issued until after the second disbursement.