Refund Policy for Tuition Accounts
A refund will be issued to the student or parent only when there is an actual credit balance on the tuition account.
Institutional and federal financial aid will disburse to students' tuition accounts approximately 4 to 5 weeks into the term if all the financial aid requirements are complete.
2020-2021 Refunding Dates
- Fall 2020 - Refunds Available approximately October 14, 2020
- Spring 2021 - Refunds Available approximately February 17, 2021
- Summer 2021 - Refunds Available approximately June 16, 2021
Typically, there will not be a credit balance until all institutional and federal aid disburses. Once this occurs and if it creates a credit balance, any remaining credit will be refunded as follows, in this order:
- If a credit balance is a result of federal Stafford loans, alternative loans and/or grants, the refund will be issued to the student based on the refund option they choose
- If a credit balance is the result of a Parent PLUS Loan, the refund will be issued to the parent borrower. Refunds from proceeds of the PLUS will be issued to the student only if the parent requests it on the PLUS application
- If a credit balance is a result of Tuition Management Systems (TMS) payments, the refund will be issued to the TMS plan payer. Any credit balances as a result of a TMS payment will not be refunded until the TMS plan is completed and/or withdrawn
- If a credit balance is a result of a credit card payment, and the payment was made within the past 90 days, the refund will be credited back to the credit card used for the transaction. If the credit card payment was made more than 90 days ago, the refund will be issued to the student based on the method of disbursement they have selected
- If a credit balance is a result of payments made by or loans in the name of parents who are separated or divorced, Wentworth will refund to the student
Wire Payments and Credit Balances
- Wentworth accepts wire payments via Flywire as one of the methods for students and families to remit tuition payment(s). Wentworth’s policy is to process a wire refund back to the original Flywire payer if the credit amount is $2,000 or more
- Venezuelan Students: Due to the CADIVI requirements and the amount of time required for processing, the above mentioned credit balance threshold may not be applied to wire transfers that are originated in Venezuela. Student Financial Services counselors will determine if the above credit balance threshold for wire refunds should be applied to CADIVI/Venezuelan wires on a case by case basis. If an exception is made that the standard credit balance threshold should not be applied, a student refund will be processed according to the refund preference that the student has selected.
Refund Timelines and Expectations
Students can expect to receive a refund from a credit balance within fourteen days from the date the credit balance appears on their account. In general, credit balances will be processed according to the following timeframe only if all financial aid requirements have been completed. The dates below are approximate and are subject to change.
Credit balances for a specific term will not be processed until after the add/drop period ends for that term. Credit balances are reviewed every week, and a refund is typically processed that same week. Students can expect to receive the refund the following week after a credit balance is created, depending on the payment preference they have selected.
For most students, credit balances are the result of federal financial aid. Financial aid will not disburse until 4 to 5 weeks into the semester. If students are planning to use financial aid to buy books or pay for living expenses, please budget appropriately to cover those costs out of pocket before being reimbursed by your student loans according to the timeframe below.
Expected Financial Aid Disbursement
- Fall: The first or second week of October
- Spring: The first or second week of February
- Summer: The first or second week of June
- Refunds Sent: Within 14 days from the date the credit balance is applied to the student's account