It’s not just classes that give you credits. Sometimes, something happens to cause a credit balance on your student account. This might be a result of:
Are you eligible for a refund?
IU Online students
If you’re taking online courses and currently reside in a state other than Indiana, email firstname.lastname@example.org for state-specific online course refund policies.
Getting your refund
If you end up with a credit balance, you’ll be issued a refund. It’s usually processed within five business days after the credit is posted to your student account.
When you receive a refund will depend on whether you’ve set up direct deposit or will be receiving a check. (Credit card payments that result in a credit balance will be refunded to the credit card, and should appear within ten business days.)
Get your refund via direct deposit
With direct deposit, your refund will be deposited straight into your checking or savings account. You’ll get your money faster than if you wait for a check—usually within three business days after the processing date shown on your account.
If your bank account changes, update it as soon as possible to avoid delays in receiving your refund.
Get a refund check in the mail
If you haven’t signed up for direct deposit, we’ll mail your check to your local address—so make sure you keep your address current. Mailed checks will usually arrive within 7–10 business days after the processing date shown on your account.
If you don’t receive your refund check within 14 days, you should issue a stop payment request so your refund can be re-sent to you. If necessary, contact the Office of the Bursar to confirm the address to which the check should be sent.
How—and when—refunds are processed
Financial aid is normally credited to your account 10 days before the first day of classes, and we’ll process those refunds the same day. After this initial process is complete (or if you are not receiving financial aid), refunds will be processed every Friday.
Exceptions will be handled on a case-by-case basis.