General Refund Information - Credit balance refunds typically result from schedule adjustments, financial aid, over-payment, or health insurance waivers. Regardless of who paid the bill (except for parent loan refunds designated for the parent borrower, or when refunded to a credit card), refunds are issued in the student's name. Please note, Baylor is no longer allowing credit balances to remain on student accounts. Refunds of all eligible credit balances will be processed automatically, either by Direct Deposit or mailed check.
A cancellation occurs when a student decides not to attend classes for a semester prior to the first day of classes for that semester and the student is fully refunded. A withdrawal happens beginning the first day of class and a refund is based on a percentage of days spent in class.
After the first week of classes, a student will need to fill out an Add/Drop form from the Office of the Registrar. A refund is based on a percentage of days spent in class.
Students are encouraged to set up a refund by Direct Deposit account in Bearweb. Baylor University will electronically deposit your student financial aid or any other account refunds into a checking or savings account - any bank, anywhere in the US. This is the same safe and secure process that is used to deposit payroll checks. If a Direct Deposit account is not set up, refund checks will be mailed which can take several weeks to be received by the student.
Refund of Title IV (federal aid) Credit Balances
Return of Title IV credit balances will be automatically processed within 14 days of the posting of aid to the student’s account. To eliminate the credit balance, a refund by direct deposit or a check will be issued to the student. The student is the only individual authorized to take ownership of the check. The only exception is for student accounts with Parent Plus loans. The law requires that any excess Parent PLUS loan funds be returned to the parent. Therefore, if Parent PLUS loans create a credit balance, the credit balance will be given to the parent. However, the parent may authorize Baylor University, in writing or through StudentLoans.gov, to transfer the proceeds of a Parent PLUS credit balance directly to the student. In this case, Baylor will process a refund to the student. If Baylor has lost contact with a student or parent who is due a Title IV credit balance, the school will return the credit balance to the appropriate FSA program/lender.
If additional information is needed, please contact our office at baylor.edu/sfs/contactus.