Refund Information

 

When are Student Refunds Processed?

The University sends refunds to students approximately seven days after a credit appears on the student account. Students are encouraged to use their checking account to sign up for direct deposit to receive refunds.

Excess Financial Refunds will be processed via Direct Deposit each semester on the following dates:

  • Fall 2016  –   September 6
  • Spring 2017  –  January 25

How to sign up to have your refund sent directly to your checking account via Direct Deposit 

Log into MyNKU – Click on Biller Direct Tab → Select Manage Bank Accounts → Click Add Account → Enter Bank Account Details → Check Box for Account to Refund → Click Review → Click Confirm

  • Detailed instructions for setting up direct deposit are available here.
  • Detailed instructions for deleting bank information is available here.

What you'll need:

  • Your institution's bank number (also known as "routing number")
  • Your checking account number

When can I expect to receive my refund once it has been issued on my student account?

The funds should be in your bank account within 2-3 business days after the scheduled refund date. 

Refunds cannot be picked up at the university under any circumstances.

It is not necessary to contact our office to request a refund since the refunds are processed seven days after the financial aid disburses to the student account.   A refund cannot be issued to a student until their aid (or tuition credit) has been disbursed to their student account, which will then create a credit balance. Below is an example:

 

Date

 

 

Term

 

 

Description

 

 

Charges

 

 

Payments

 

 
         

The Financial Aid was

12/15/2016

Spring 2016-2017

GR-OL Tuition & Mandatory

3,678.00

 

disbursed on 1/27/17

   

Fees

   

creating a credit balance

1/27/2017

Spring 2016-2017

Federal Direct Subsidized

 

  11,259.00 -

of $7,581.00 which will

 

 

Loan - Spring

 

 

be refunded to the

     

3,678.00

  11,259.00 -

student in 7 days

   

Total Balance --------------------------------

   7,581.00 -

 

 

How do I know if my refund has been issued?

You can check your Student Account via MyNKU to see if your refund has been processed.  Follow the steps below to access your student account information:

  • Log into MyNKU
  • Select the "Biller Direct" tab"
  • Click on "Account Statement" , then Click “Download” (for the semester you choose)

If the refund has been issued you will see the words "Refund Direct Deposit". As an example:

Date

Term

Description

Charges

Payments

1/27/2017

Spring 2016-2017

Refund Direct Deposit

7,581.00

 

 

We're happy to help you if you have questions about direct deposit or about your bill in general. Just e-mail us at studentaccountservices@nku.edu or call 859-572-5204.

Tuition Refunds

A. Students who officially withdraw from all classes or drop class(es) on or before the last day to register, as published in the academic calendar, are eligible for a 100 percent adjustment of the total tuition and fees assessed.

B. Students who officially withdraw from all classes or drop class(es) after the last day to register but before the last day to drop a course without a grade appearing on the student's record, as published in the academic calendar, are eligible for a 50 percent adjustment of the total tuition and fees assessed.

A reimbursement of some or all tuition depends on when a student drops a class, or several classes, and whether the student adds other classes. Refunds are calculated based on the number of financially equivalent hours, not academic hours. This means that a student who drops and adds the same number of credits does not necessarily end up with the same tuition bill as he or she would have gotten for the initial set of courses. For example, if a student originally had 15 credit hours and dropped 5 credit hours during the 50 percent tuition adjustment period, the student would be charged for 12.5 hours (15 credits less half of 5 credits = 12.5 credits). It the student added five credits at the same time, the student would be charged for 17.5 hours. The formula to determine financially equivalent hours is as follows:

Previous academic hours - (dropped hours * tuition adjustment percent) + added hours = financial equivalent hours charged.

To determine refund eligibility, calculate:

New tuition charge - previous tuition charge = difference.

If the difference is negative, the student is due a refund; it the difference is positive, the student owes money to the university.

Appeal for Tuition Refund