Refunds

Key refund policies and procedures for students at the university include:

• Timing of Refunds: Refunds are not issued before the last day of the add/drop period, and funds from loans are only refunded after being disbursed to student accounts. Students are advised to have at least one month's living expenses available at the start of classes, as refund processing can take up to four weeks.
• Eligibility and Amounts: The eligibility and amount of a refund depend on the course length and the actual withdrawal or drop date.
• Parent PLUS Loans: Refunds from Parent PLUS loans are issued as checks to the applying parent unless a parent release form is completed.
• Check Payment Policy: Refunds for check payments are subject to a 14-day waiting period for the check to clear. Refunds are not available for pickup and will be sent by mail or electronically.
• Non-refundable Fees: Certain fees, including university services, registration, orientation, credit card convenience, late, and returned check fees, are non-refundable. Aid intended for tuition and fees only is also non-refundable, and aid packages may be adjusted in cases of over-award.
• Application of Title IV Funds to Student Accounts: The U.S. Department of Education requires that Title IV funds be applied to specific allowable charges. Allowable charges include tuition, mandatory fees, and room and board billed by the university. If the total Title IV funds exceed the sum of these qualifying charges, the university must refund the excess to you. 
• Lost or Misplaced Checks: For lost or misplaced checks, students should email Accounts Payable with their name, student ID, refund amount, and contact information.
• University Rights: If a refund is issued in error, the university reserves the right to reclaim the funds.

For questions about your refund, please email [email protected].

Financial Aid will begin disbursing aid to student accounts the week after the end of the add/drop period.

Refunds will be processed daily for two weeks and three times a week thereafter. It is imperative that you keep your address and electronic refund account information current in the system. If you do not see specific loans, scholarships, or grants in your student account, please contact Financial Aid.

Refunds are processed and generated on the basis of the initial method of payment and only after the student has dropped or withdrawn from a course. If you have paid by credit card and are eligible for a refund because of overpayment, course cancellation, or withdrawal, you will receive a credit to the credit card used to make the initial payment. Note that the convenience fee assessed on that refund amount is non-refundable. Furthermore, if you have paid by wire transfer and are eligible for a refund, the funds will be refunded through PayMyTuition, our wire payment and wire refund service. All other refunds are processed as checks and are mailed to the student's attention at the official address on file with the Registrar's Office.

Students are responsible for knowing university policies about adding or dropping courses and refund of tuition and fees. Refunds are granted only after the official withdrawal procedure has been completed.

The refund dates are for courses lasting a full semester or term only. Courses starting after the first day of classes (listed on the academic calendar) and courses shorter than the standard 15 weeks may have different refund schedules. Please speak to your academic advisor if a course you would like to drop is not a standard 15-week course.

The U.S. Department of Education has issued guidance to schools regarding options for assisting Title IV recipients with a Title IV credit in their account in purchasing books and supplies. These options may include cash disbursements, bookstore vouchers, stored value cards, school credit, and check and EFT transfers to the student's bank account. To meet these requirements, The New School disburses cash in the form of a direct deposit or a check to eligible students only.

Not all students are eligible. To be eligible for an advance for books and supplies, students must:

• Complete their FAFSA application for the current academic year.
• Submit all financial aid documentation to the Financial Aid Office ten business days before the first day of the semester
• Have scheduled classes and registered with Student Accounts ten business days before the first day of the semester.
• Have a credit on their account from Pell Grant and/or Federal Title IV funds after tuition, fees, housing, and other authorized charges are deducted. Students receiving institutional aid alone are not eligible; the credit must be for excess Title IV funding on their account.
  • If your parent is approved for a PLUS Loan, and did not authorize you to receive the refund, the parent must complete a Parent PLUS Loan Title IV Authorization Form if they would like you to use the Bookstore Debit Program with the PLUS Loan funds.
    
    • To receive this form, the parent should email [email protected] from the email address on file associated with the Parent PLUS Loan.
• Complete a Provision for Books and Supplies Form. Please note that this is an advance, which will be deducted from your total Title IV award and is intended for the purpose of purchasing books and supplies only. It is neither free nor additional funding.
• You can also opt out by not filling out this form. If you opt out, all of your aid—including any credit amount—will be disbursed to you on the normal disbursement date.

Please visit Book Voucher/Advance Refund FAQ for more information. For additional assistance on eligibility please contact [email protected].

For questions about your refund, please email [email protected].

For information on refunds for Continuing and Professional Education programs, including adult courses, certificates, summer intensives, and youth and pre-college programs, visit Continuing and Professional Education tuition and refunds.

The New School adheres to Department of Defense (DoD) policies regarding the return of unearned Military Tuition Assistance (TA) funds. If a student using Military TA withdraws from a course, The New School will follow a prorated refund process based on the percentage of the course completed up to the 60 percent mark of the academic course. The amount of unearned TA funds returned is based on the date of withdrawal. Please note that after 60 percent of the semester has passed, TA funds will no longer be eligible for evaluation for return to the DOD.

15-Week Course or Term Withdrawal

For courses that have durations differing from the above, unearned TA funds will be returned on a prorated basis, depending on the length of the student’s enrollment for the semester. To determine the amount of TA that was earned by the student and needs to be returned, the institution will identify the date the withdrawal was submitted and divide that by the number of days in the semester.

What is a refund?
When students receive more financial aid credits or personal payments than university charges, the excess funds are paid to the student (or parent, if the funds came from a Parent Plus loan) as a “refund”. Financial aid, including loans, are first used to pay student account charges. A refund will be issued only if there is a credit after charges are paid.

Am I eligible for a refund?
Students whose accounts are overpaid by financial aid or personal payments may be entitled to a refund. Students who owe a balance after their financial aid has been processed will not receive a refund. Credit balances are shown on View and Pay as negative numbers. A number in parentheses indicates that it is negative.

When will I receive my refund?
Refunds are automatically processed twice a week. Some credits may require additional review, which may result in your refund taking some additional time to process. Students who are enrolled in direct deposit will have their refunds deposited directly into the bank account on file, typically within 3 to 5 business days. If you are not enrolled in direct deposit, your check will be mailed to you directly, which may take up to 10 to 14 business days.

What if part of the balance is a result of a Parent PLUS Loan?
If the credit balance is a result from a Parent PLUS Loan, the funds will be automatically refunded to the borrower. 

What if a credit card was used to make a payment on the account?
If a credit card has been used to pay any portion of the amount due, the refund will be made to the credit card first. If the credit balance on the account exceeds the amount that was paid via credit card, these additional funds will be refunded via direct deposit or check.

I haven’t received the refund check mailed to me, what should I do?
Please submit the check stop payment request if it has been more than 14 business days from the refund issued date. Please submit the check stop payment request to Accounts Payable. Be sure to include your name, your student ID number, the amount of your refund, and a telephone number in case the office needs to contact you. The refund will be reissued after the check stop payment request has been processed, typically within 2-3 business days. We recommend enrolling in direct deposit for the reissue and future refunds.

Why did I receive a refund when I have an outstanding balance?
Some types of financial aid can only be used to pay for certain types of charges. Therefore, you could receive a refund even if you have an outstanding charge on your student account from the current or previous terms. You are responsible for paying the outstanding balance on your account even after you’ve received a refund.