Financial Aid Refunds
The Office of Financial Aid will post all funds for which you are eligible to your account for payment of tuition, fees, and any bookstore purchases charged to your account. In some cases, after payment of these costs, there may be an excess amount of funds in your account. This is your “refund”.
Financial Aid Award - Semester Charges = Refund (Excess Funds)
Financial Aid will post financial aid funds to your account after the start date for each session. Refer to the Enrollment Services Important Dates calendar for the specific payment and refund dates for each session. All refunds are processed by Higher One. To ensure any refund is processed in a timely manner, students are encouraged to set up their account with Higher One prior to the posted refund date.
If you have questions about how your charges or refund were calculated, or would like to access all of your student account information, a breakdown of this information can be found online via HFC’s WebAdvisor.
Keep in mind that students must be attending classes to receive financial aid and any resulting refund. Students who do not attend their classes or who drop all of their classes during the add/drop period will not receive a refund for any remaining balance on their account. These funds will be returned to the financial aid programs from which they were received.
Students receiving Subsidized or Unsubsidized Direct Loans will lose their eligibility and will not receive any funds if their attendance drops below half-time status during the add/drop period or before such funds are disbursed to their student account. Half-time status is defined as enrollment of at least 6 credit hours in the semester.
Direct Loan recipients have the “right to cancel” all or a portion of their loan(s) within 14 days of receiving the funding. Students interested in canceling all or a portion of their Direct Loan(s) should put their specific request in writing and contact the Office of Financial Aid and return any refund received.
Students who receive grant funds in excess of amounts charged for tuition, fees, and books may be required to list that excess amount on their federal tax returns (please consult with a tax professional).