Credit Balance Refund Policy

Students whose account reflects a valid credit balance as indicated by $-x.xx may request a refund. For any credit balance to be considered valid, all credits including financial aid, private scholarships, Veteran benefits, and private student loans must be received and posted to the student account, and the student’s enrollment in the given semester has been confirmed (i.e. student has begun classes for the semester).  The type of credit will determine the method of initiation and the length of time for the student to receive the refund.

TITLE IV CREDIT BALANCES (Pell and SEOG grants, Stafford and Perkins loans): Credit balances created by these credits will be automatically issued within the timeframe per federal regulations, unless the student has specifically authorized UMES to apply and/or retain title IV credits via the Title IV Authorization Form*. 

TITLE IV CREDIT BALANCES (Parent Plus loans):  Credit balances created by Parent Plus loans credits will be automatically issued within the timeframe per federal regulations unless UMES has been specifically authorized to apply and/or retain title IV credits via the Title IV Authorization Form*.   Credit balances created by the Federal Parent Plus loan will be refunded to the Plus loan borrower (parent) unless the parent indicates on the Plus Loan application that the student is to receive the refund. Refund checks will be mailed to the parent borrower at the address on record.

NON-TITLE IV CREDIT BALANCES: Other credit balances created by private student loans, Veteran benefits, private scholarships, and/or private payments can be retained on the student account for future charges or can be requested for a refund by completing the Student Accounts Refund Request Form.   Refund requests will be processed within 7-10 business days.  All requests will be subject to review and may be revised due to pending account charges and/or changes in financial aid or status of enrollment known prior to issuance. The refund process is run on Wednesday of each week during the semester.

Beginning fall 2017, UMES delivers your refund with BankMobile Disbursements, a technology solution, powered by BMTX, Inc. Visit this link for more information: https://bankmobiledisbursements.com/refundchoices/.

** It is the student’s responsibility to ensure that a current home address is on file with the Office of Admissions.

It is important to be aware that once a refund is issued, any subsequent charges and/or changes in financial aid or status of enrollment will create a balance due to the College.  Prompt personal payment will be required to settle the balance to avoid late payment fees and/or a delay in registration in an upcoming semester.