1. Withdrawl Period and Refund Policy:
- Full Refund: Students who withdraw within the first week of the term (7 calendar days from the start date) are entitled to a full refund of their tuition and fees.
- Partial Refund: Students who withdraw after the first week of the term but before the end of the 60% mark of the term may be eligible for a partial refund. The refund amount is prorated based on the percentage of the term completed.
- No Refund: There is no refund for withdrawals after the 60% mark of the term.
2. Processing and Disbursement of Refunds:
- Credit Card Refunds: If you paid your tuition and fees using a credit card, the refund will be processed within 3-5 business days and should appear on your credit card statement within 1-2 billing cycles.
- Bank Account Refunds: For students who have provided their bank account information, refunds are typically processed via Electronic Funds Transfer (EFT) within 3-5 business days.
- Check Refunds: If you have not provided bank account information, a paper check will be mailed to your address on file within 10 business days.
3. Financial Aid and Overpayment Refunds:
- If you received financial aid, such as federal student loans or grants, your refund may be subject to various regulations. Any excess financial aid funds may be returned to the respective agencies, which can impact your refund timeline.
- If you overpaid your tuition and fees, the excess amount will be refunded to you after any outstanding financial obligations (e.g., library fines or late fees) have been settled.
4. Contacting the Financial Aid Office:
If you have any questions or concerns regarding your refund, it's advisable to contact the APU Financial Aid Office directly. They can provide personalized assistance and information based on your specific situation and financial aid package.
Note: These timelines are approximate and can vary based on factors such as your bank's processing speed and any additional verifications required by the university. It's recommended to check with APU's Financial Aid Office for the most up-to-date information regarding your refund status.