The timing of a refund depends in part on several factors:
- Sources of financial aid.
- Date(s) that financial aid is moved out of pending status and applied to a student’s account.
- Whether the account is eligible for a financial aid refund, overpayment refund, Federal Student Aid (Title IV) refund, or a refund after withdrawing from the University.
- Whether the student has set up a direct deposit eRefund account. During the first three weeks of each term, we only process eRefunds; we do not begin to review the refund eligibility of students without eRefund accounts until the end of the third week of a term or later (with the exception of Title IV refunds - see below).
The refund process at DelVal also requires multiple levels of approval and the efforts of multiple departments. DelVal cannot guarantee a specific date that a refund will become available (except for FSA (Title IV) refunds, which are discussed below). Therefore, if you have an outside financial obligation that is due on a certain date, such as off-campus rent or a credit card bill for books, you need to make alternate arrangements in the event that your refund is not ready by that date.
Financial Aid Refunds
Your refund will be automatically processed. It may take at least two weeks after your account becomes eligible before your refund is available. To determine whether your refund will be a financial aid refund rather than an overpayment refund or a Title IV refund, visit our Refund Eligibility webpage.
Overpayment Refunds to Current Students
Overpayments are not automatically refunded. The student must request an overpayment refund by emailing firstname.lastname@example.org from his or her DelVal email address. It may take at least two weeks after the student’s request is received before the refund is available.
Federal Student Aid (Title IV) Refunds
Federal Student Aid (FSA) refunds are also known as Title IV refunds and are automatically processed within 14 days of the application of the aid to the student’s account, in accordance with federal regulations. If the student signed up for an eRefund, the refund will be wired into the banking system by the fourteenth day. Otherwise, the check will be available to be picked up or mailed by the fourteenth day.
Under limited circumstances dictated by federal regulations, a student may give written permission to hold all or a portion of the credit balance for additional coursework during the same overall loan period.
For more information on Title IV refunds, see Refunds of Excess Federal Title IV Student Aid.
Refunds after Withdrawal from the University
If a student who withdraws from the University is eligible for a refund, it will be automatically processed. If the student has set up a valid eRefund account, the refund will be processed as an eRefund. Otherwise, a refund check payable to the student will be mailed to the permanent address in our files. The refund will be issued after the Office of the Bursar finalizes any adjustments to tuition and fees and the Office of Financial Aid finalizes any adjustments to the student's financial aid, if all other refund eligibility criteria are met. See the University's tuition refund policy for more information.