Student Refund Checks: Liberty University's Issuance Schedule Explained

Liberty University offers refunds to students in certain circumstances, such as withdrawing from a course or having a credit balance on their account. The timing of refunds depends on various factors, including the type of student, the reason for the refund, and the original payment method. For example, student-doctors at the College of Osteopathic Medicine can request an early refund of up to $3,000 of anticipated credit, while students withdrawing from a course may receive a partial tuition refund depending on the timing of their withdrawal. Refunds for credit balances are typically processed within 4 business days, although the university has up to 14 days to complete the process.

Students receive refunds via BankMobile Disbursements

Students at Liberty University receive refunds via BankMobile Disbursements, a technology solution powered by BMTX, Inc. This method is used for refunds resulting from federal student loan disbursements, which typically occur 21 days after the start of the sixth credit hour (or the third credit hour for doctoral students). Eligible credits are scheduled to be refunded four business days after disbursements, although the U.S. Department of Education allows schools up to 14 days for processing.

Students can choose a refund option provided by BankMobile Disbursements, which offers various choices for receiving refunds. Students are notified by text message from Bank Mobile on the Friday their refund is expected, and the funds typically arrive in their bank account the following day, although there may be delays until Monday in some cases.

For credit balances not composed of federal aid, students can submit a refund request to the Student Accounts Office. In such cases, refunds from credit or debit card payments will be returned to the original payment card. It's important to note that certain charges, such as the late Financial Check-In fee, Payment Plan Participation fee, and Returned Payment Processing fee, cannot be covered by Title IV federal aid.

Additionally, Liberty University College of Osteopathic Medicine (LUCOM) offers student-doctors the option to request an early refund of up to $3,000 of the anticipated credit on their account. To be eligible for an early refund, students must be in good academic standing and have completed the Financial Check-In. No finance charges or fees are associated with early refunds as long as the anticipated funds are received and credited to the student's account.

Refunds are issued 4 business days after disbursements

At Liberty University, federal student loan disbursements typically occur 21 days after the start of your sixth credit hour (or third credit hour for doctoral students). Refunds are then issued 4 business days after disbursements. However, it's important to note that the U.S. Department of Education allows universities up to 14 days to process refunds.

Liberty University uses BankMobile Disbursements, a technology solution powered by BMTX, Inc., to deliver refunds to students. Students usually receive a text from Bank Mobile on the Friday their refund is expected, and the funds typically arrive in their bank account on Saturday or Monday.

For students on clinical rotations, the number of weeks used to determine the tuition refund is based on the number of weeks attended up until the withdrawal date, excluding any gap weeks.

If a student withdraws after the first week but before the end of 7 weeks, they will receive a 50% tuition refund. A 25% tuition refund is provided for withdrawals after 7 weeks but before the end of 13 weeks. However, students who withdraw after 13 weeks are no longer eligible for a tuition refund.

Students can choose to "Hold my credit," authorising Liberty University to retain any excess federal aid disbursements for future charges. Alternatively, selecting "Refund my credit" authorises the university to process a refund for excess federal aid, and students can choose their preferred refund option through BankMobile Disbursements.

Students can request an early refund of up to $3,000

Students at Liberty University can request an early refund of up to $3,000 of the current anticipated credit on their account. This option is available to student-doctors at the Liberty University College of Osteopathic Medicine (LUCOM). To be eligible for an early refund, students must be in good academic standing and have completed the Financial Check-In (FCI). There are no fees associated with an early refund, provided that the anticipated funds are received and credited to the student's account. If the anticipated funds are not received, the student is required to repay the advanced funds from other sources. To apply for an early refund, students must complete the Early Refund Request form.

Students can also receive a refund if they have an excess of funds in their account from financial aid credit (federal, state, and institutional aid) after all direct educational expenses have been paid (tuition, fees, etc.). Account refunds are generated at specific times throughout the semester. Most account credits happen because federal student loan disbursements occur 21 days after the start of the sixth credit hour (21 days after the third credit hour for doctoral students). Eligible credits are scheduled to be refunded four business days after disbursements. However, schools are permitted by the U.S. Department of Education up to 14 days to process refunds. Liberty University delivers refunds via BankMobile Disbursements, a technology solution powered by BMTX, Inc.

Students can choose to have any excess federal aid refunded to them by selecting the "Refund my credit" option. This authorizes Liberty University to process the refund. Alternatively, students can choose to have any excess federal aid held on their account for future charges by selecting "Hold my credit". If there is a credit balance from federal aid on a student's account, it must be refunded to the student or returned to the U.S. Department of Education before the end of each academic year. The refund will be sent to the parent borrower via mailed paper check unless the parent borrower completes a Federal Direct PLUS Loan Change Form, which can be found in the student's ASIST account under the Financial Aid tab.

Students can also submit a refund request to the Student Accounts Office for credit balances not made up of federal aid. In this case, the refund will be issued to the original payment card. It is important to note that some charges, such as the late Financial Check-In fee, Payment Plan Participation fee, and Returned Payment Processing fee, cannot be paid by Title IV federal aid (e.g., Pell Grant, Federal loans). Additionally, students receiving Veteran Readiness and Employment (VR&E) benefits may experience an additional delay in invoicing of 2-3 weeks.

Students withdrawing after the first week but before the end of 7 weeks receive a 50% tuition refund

Liberty University offers a tuition refund to students who withdraw from their courses before the end of the seventh week of classes. The amount of the refund depends on when the student withdraws. If a student withdraws from all courses during the first week of enrollment, they are eligible for a 100% tuition refund. However, if they withdraw after the first week but before the end of the seventh week, they will receive a 50% tuition refund. This policy applies to students in the College of Osteopathic Medicine, who may also request an early refund of up to $3,000 of the anticipated credit on their account.

To receive an early refund, students must be in good academic standing and have completed the Financial Check-In (FCI). There are no fees or finance charges associated with early refunds, as long as the anticipated funds are received and credited to the student's account. If the anticipated funds are not received, the student is responsible for repaying the advanced funds from other sources. Students can apply for an early refund by completing the Early Refund Request form.

The university also offers a Student Financial Assistance Program to help qualified students complete their medical education. Students can finance their education through scholarships, federal and private loans, military health profession scholarships, and other federal and state programs. They can also apply for loan forgiveness programs once they begin their medical education or practice.

It's important to note that students who withdraw from their courses may have their federal financial aid recalculated, and they will be charged a $50 fee for ceasing enrollment in the semester. Additionally, late tuition payments or failure to make payment arrangements by the deadline may result in removal from classes and/or clinical rotations.

Students can request a refund of their $250 enrollment deposit

Students enrolling at Liberty University are required to submit a $250 enrollment deposit. This deposit is fully refundable for any reason if a written request is submitted by May 1 for fall applicants and December 1 for spring applicants. The enrollment deposit is non-transferable and non-refundable after the deadlines specified above but may be deferred for up to one academic year if the student decides to attend in a subsequent semester. However, updating the application and enrollment deposit to a different semester will result in the loss of eligibility for a refund.

The enrollment deposit provides access to additional scholarship funds of up to $10,000. The amount of the award package is locked in upon submission of the deposit and is determined by the payment date. Early deposit awards are offered to students who deposit by the specified deadlines. For example, Fall 25 students who deposit by February 28, 2025, will receive a $2,000 early deposit award, while Spring 26 students who deposit by the same date will receive a $1,000 early deposit award.

Liberty University offers a variety of scholarships, including the $500 Early Deposit Award, the $8,000 Liberty Champion scholarship, and the Middle America Scholarship (MAS). The Liberty Champion scholarship is awarded over four years at Liberty and is based on the Student Aid Index (SAI) determined by the FAFSA. The MAS is designed for students from families with annual incomes between $35,000 and $95,000 and can provide up to $25,580 over four years when combined with the Champion Award.

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