Requesting a Refund
Should a student have an excess of funds remaining on their student account after tuition and all other expenses are paid, they may be eligible to apply for a refund. Links to initiate the refund process are found below.
Refund Request - Under 24 years of age
Refund Request - Over 24 years of age
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Any student account that has a credit balance on the account is eligible to have a refund processed. Families may choose to have the credit placed toward a future term or request that it be sent to their bank account. All refunds will be processed electronically. Day Undergraduate students must be enrolled in 6 credits for Block A in order to have financial and programs disburse in the first drop/add period for the semester. Once requested, refunds normally require two to four weeks for approval and processing, from the time the credit is available on the account. Students must complete a Refund Request form for each refund. The form is located at my.lynn.edu. Incomplete forms will create delays in the processing of the refund. Attendance in classes is required before federal financial aid is disbursed. International students should only pay the amount due to their student account. Excess payments that exceed tuition, room and board costs for the current terms will be applied to a future semester to cover anticipated tuition and related fees. Therefore, any credit balance refund will only be for a maximum amount that is estimated for books, room and board costs for the current term. (This is to comply with the Financial Record Keeping and Reporting of Currency and Foreign Transactions Act of 1970 (31 U.S.C. 5311 et seq.) How do I get my credit balance refunded to me? Complete the Refund Request Form at least 5 days before credit is available on the account. How will I receive my credit balance refund? You must set up your bank ACH information on mylynn at least 5 days before you submit the Refund Request Form. How often must I update my ACH bank information? You need to enter your bank information onto myLynn only once. If you change bank accounts, you should update your ACH information immediately and no later than 5 days before your next refund request. What happens if I don’t receive my ACH credit within the 3 days from once I have been sent an email notification from Lynn’s refund system? In some cases, Lynn will have a bounce back for an ACH due to an incorrect bank account or routing number. Lynn will reach out to you via email for you to correct your information on myLynn. Once you correct the information, your ACH will be sent out the following week. You will receive an email from the Refund System the day the refund is resent to the bank. Do I have to complete a new Refund Request form each time that I want a refund? Yes, you must complete a new form each time you request a refund as a current date is required on the form. When will I receive my credit balance refund? Refunds are processed after the term has begun and after the drop/add period. You will receive an email from the Refund System the day the refund is sent to our bank to initiate the process to your bank. When will my financial aid create a student credit balance? After the tuition and fees are paid from the financial aid, any excess may create a credit balance. Financial aid is disbursed after the drop/add date and after attendance in each class is reported by the faculty. For federal aid, two courses are required for attendance certification. Does my parent have to sign the Refund Request Form? A parent signature is required for any student less than 24 years old unless you are a graduate student or classified as an “independent” student on the FAFSA. Which parent is required to sign the Refund Request Form? The parent that took out the PLUS (Parental Loan) must be the parent to electronically sign the form. If there is no PLUS loan, then either parent can electronically sign the form. Do I have to list a reason for the Refund request? Yes, Lynn is required to keep on file the reason for the refund. Typical reasons to list are: overpayment, room + board expenses, course supplies, etc. When will I receive my credit balance refund if I miss the deadline to submit the Refund Request Form? The refund will be processed by 14 days from the date of submission of the Online Refund Request Form if there is a credit balance available. If I am an international student, how much am I allowed to request from my credit balance refund? To comply with the Financial Record Keeping and Reporting of Currency and Foreign Transactions Act of 1970 (31 U.S.C. 533 et seq.), you |
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are only eligible to receive up to the amount of estimated books, room and board costs for the current term. |
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Term Dates Refund Request Form Financial Aid Refund Submission Date By Disbursement Date Date
Graduate/Online Terms |
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Fall I 08/20/23 – 10/14/23 08/25/23 08/30/23 09/08/23
Fall II 10/15/23 – 12/13/23 10/20/23 10/25/23 10/30/23
Spring I 01/07/24 – 03/02/24 01/12/24 01/17/24 01/22/24
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Summer I 05/05/24 – 06/29/24 05/10/24 05/15/24 05/20/24 Summer II 06/30/24- 08/24/24 07/06/ |
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Day Terms
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24 |
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D 11/12/23 – 12/13/23 11/15/23 11/17/23 11/27/23
Spring A 01/07/24 – 02/03/24 01/15/24 01/17/24 01/22/24
B 02/04/24 – 03/02/24 02/10/24 02/12/24 02/16/24
C 03/10/24 – 04/06/24 03/16/24 03/18/24 03/22/24
D 04/07/24 – 05/04/24 04/15/24 04/17/24 04/22/24
07/11/24 07/22/24
Day Terms Summer 05/05/24 – 06/01/24 05/13/24 |
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15/24 05/20/24 |
Refund Policy
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If student decides to withdraw from Lynn University, a properly filed Request for Withdrawal form establishes the date to which the university refund schedule applies. It is the student responsibility to submit a refund request in writing to the Office of Student Financial Services before a refund is issued. Refunds are calculated on the basis of total semester charges payable, after deductions for non-refundable deposits and other non-refundable charges such as lab, service and technology fees.
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Title IV funds affected by this policy include: Federal Pell Grant, Federal Supplemental Educational Opportunity Grant, Federal Direct Subsidized Loan, Federal Direct Unsubsidized Loan, Federal Direct PLUS Loan, Federal Direct Graduate Plus Loan and TEACH Grant. Title IV funds are awarded to a student under the assumption the student will attend school for the entire period for which the assistance is awarded. When a student withdraws or stops attending all of his or her classes for a two week period, the student may no longer be eligible for the full amount of Title IV funds that the student was originally scheduled to receive. The university is required to calculate a “Return to Title IV Refund Calculation” (R2T4) if the student has stopped attending or withdrawn prior to completion of 60 percent of the term. If Title IV financial aid has been used to pay for all or any portion of |
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these charges, |
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financial aid program funds will be reimbursed to the appropriate agency in accordance with a formula required by federal regulations. |
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Unearned Title IV funds will be returned to the Title IV Programs based on the number of days not attended. A student is eligible for a post-withdrawal disbursement if the R2T4 calculation shows that the student was eligible for aid that the school was unable to disburse prior to their withdrawal. To be eligible for a post-withdrawal disbursement, the university must have received a valid FAFSA with an official SAI prior to the student’s withdraw date. The university must notify the student that they are eligible for a post-withdrawal disbursement within 30 days from the date of determination that the student withdrew. The disbursement must be completed within 180 days of the withdraw date. Title IV grant funds must be disbursed before Title IV loan funds. Title IV grant funds have to be disbursed no later than 45 days after the date the student withdrew. The university can disburse Title IV grant funds without the student’s permission for current charges but written authorization from the student is required if the post-withdrawal disbursement is for non-current charges or if the funds to be disbursed are Title IV loans. When a return of unearned Title IV funds is required, the university must return the lesser of:
The order of refunds will be:
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The university is required to return unearned Title IV funds within 45 days of the date the university determined the student withdrew. R2T4 requirements are separate from Lynn University’s refund policy. Therefore, this policy may result in a financial obligation that is payable to the university at the time of a student’s withdrawal or when the school determines the student has stopped attending classes. Example: Student received a Direct Subsidized Loan for $1,732, a Direct Unsubsidized Loan for $990 and a Direct Parent PLUS for $18,152 during the fall semester. Student attended almost four weeks into the semester and then withdrew from all of their classes for personal reasons. Based on the student’s last day of attendance, the R2T4 calculation determines that the student attended for 26 days and earned 26.5 percent of their federal student aid for the payment period. The student is eligible for $5,532 of the aid that was disbursed (26.5% x $20,874) and the school is required to return the difference of $15,342: $1,732 Direct Subsidized Loan, $990 Direct Unsubsidized Loan and $12,620 Direct Parent PLUS Loan. The student will owe this amount to the university as charges would not be adjusted after 25 days into the semester, per the schools refund policy. |
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Withdrawal from the university is a formal procedure that requires submission of a Request for Withdrawal form available in the Student Success Office. If the student received or was eligible for federal student aid, an R2T4 calculation is required if the student did not complete at least 60 percent of the period of enrollment. For official withdrawals, the university will use the date the student submitted the completed Request for Withdrawal as the date the student withdrew. If a student stops attending all of their registered courses for a period of two weeks, and we are not able to confirm that the students intends on resuming their courses in the foreseeable future, an R2T4 calculation will be done to determine if a student earned all of the federal student aid that they received or were eligible for during the period of enrollment. The student If a student stops attending all of their registered courses for a period of two weeks, and we are not able to confirm that the is considered to be an unofficial withdrawal from the university and federal student aid may need to be refunded in accordance with federal regulations. The student will not be officially withdrawn from their courses. For unofficial withdrawals, the university will use the student’s last date of attendance as an academically related activity as the withdrawal date. All students withdrawing must report to the Office of Financial Aid for an exit loan interview. If a student withdraws anytime during a semester, |
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ALL Lynn University grants and scholarship funds will be pro-rated based on the amount of weeks they actually attended the University. This policy may result in a student having a financial obligation to the |
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University which is payable at the time of a student’s withdrawal.
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The table below is based on accounts paid in FULL.
Room Charges Prior to Aug. 1, 2024 for Fall 2024 100 % Prior to Dec. 1, 2024 for Spring 2025 100 % Prior to May. 1, 2025 for Summer 2025 100 % After the above dates NO REFUND Refund The refund amount will be reduced by any financial aid that is |
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cancelled due to the withdrawal |
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. Refund checks will be mailed to the permanent home address on file within four to six weeks of the withdrawal date. |
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Any remaining balance due after the refund |
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adjustment |
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is the obligation of the parent/student. |