Title IV Credit Balance Refund Policy

When the College applies Title IV funds to a student’s school account and determines that the amount of funds exceeds allowable charges the College assessed, the College must pay the credit balance directly to the student or parent borrower as soon as possible, but no later than the 14-day deadline prescribed below. The only exception is when the College has the student’s permission to hold a credit balance.

The College must pay a credit balance directly to a student borrower or parent borrower within 14 days of:

• the date the balance occurs, if it occurs after the first day of class of a payment period; or
• the first day of class of payment period, if the balance occurs on or before the first day of class of that payment period; or
• the date the College receives the student’s or parent’s cancellation of the College’s authorization to hold a Title IV credit balance.
• Credit balance refund disbursements are distributed in the College Cashier’s Office and made payable to the student unless otherwise indicated.

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Contact

Office of Business & Finance
1315 Oakwood Avenue
Raleigh, NC 27610

Office Number: (919) 516-4127
Fax Number: (919) 516-5812