* University's processing time: The University of Phoenix needs time to process the credit and initiate the refund. This can take several business days to a couple of weeks.
* Refund method: The refund method you chose (direct deposit, check, etc.) will impact the processing time. Direct deposit is generally faster than a mailed check.
* Bank processing time: If you chose direct deposit, your bank may also take a few business days to process the deposit.
To find out when you can expect your refund, you should:
* Check your student account online: The University of Phoenix's student portal likely shows the refund status and expected date of arrival.
* Contact the University's financial aid or student accounts office directly: They are the best source of information regarding the specific timeline for your refund. They can track the status of your refund request.
In short, while your account shows a credit, don't expect the money instantly. Be patient and proactive by checking your online account and contacting the university if you don't see an update within a reasonable timeframe (e.g., a couple of weeks).