Student Business Office refund policy

The following outlines the policies for student refunds:

Refund Delivery Policy
– The University prefers that all refunds to students be delivered via electronic fund transfer (E-Refund). Students should enroll in E-Refund at least 10 days before their first scheduled disbursement.

  • Financial Aid refunds are processed weekly after the 100 percent drop period of the start of a term. Excess funds are required per federal regulations to be disbursed within 14 days from when funds are credited to the student’s account (not when awarded).
  • Students will be notified via email when an E-Refund has been disbursed to their bank account. Students should allow at least 24 hours for the funds to be credited to their bank account.
  • Students can set-up E-Refund by logging in to the myOLLU Portal. On the E-Commerce home page, click “refunds,” followed by “payment profile.” Here, students will have the option to add a payment method and complete the following steps:
    • Select electronic check
    • Enter checking account information
    • Check the box indicating that the account should be used for refunds
    • Click save

Credit Card Refund Policy – If a student made payment with a credit card, the University will refund up to the original amount charged or the amount of the refund only to the credit card used. Exceptions for certain employer-reimbursed students may apply.

If student does not enroll for E-refund – the financial aid refund will be disbursed by check. The check will be mailed to student’s preferred mailing address indicated in the system. If a check is not received after being placed in the mail, student must wait 10 business days before a replacement check will be issued.

Students can view when their funds are posted to their account at any time by visiting the E-Commerce section of the myOLLU Portal then clicking on “view current activity,” and “review disbursements.” Estimated financial aid listed is considered pending aid and is not subject to refund until finalized.