Early Refund Period
Deadline: January 2nd, 2019
Per Federal Regulations, Marymount University will be updating their course attendance confirmation policy and procedures beginning this upcoming Spring 2019 semester. This newly implemented regulation will impact when federal aid is disbursed and refunded to students.
In previous years, Marymount disbursed federal aid on the first day of classes, and refunded any excess funds to students within 14 days of the disbursement. Due to the newly implemented regulations, the University will not disburse federal aid once classes begin until after attendance has been confirmed. Marymount realizes how important the refund of excess federal funds is to many students; therefore, in order to comply with the new regulation and still meet the needs of our students, Marymount will be offering an Early Refund Period to qualifying students.
Beginning Spring 2019, students awarded federal aid (Unsubsized Loans, Subsidized Loans, Parent PLUS Loan, Grad PLUS Loans, Pell Grant or SEOG Grant) and wish to receive an early refund of any excess federal funds (if applicable) before the attendance confirmation period, must complete the following steps no later than January 2nd, 2019.
Student must be registered for the number of credits for which their award was based.
All courses must count toward your degree program.
All steps to accept federal loans (Master Promissory Note/Entrance Counseling, Parent Plus/Grad Plus Application) must be completed (If not already completed)
Students who have completed these steps by January 2nd, 2019, and have excess funds, will be eligible to receive their refund before classes begin on January 14th, 2019. Once classes begin, NO FEDERAL AID WILL BE DISBURSED to a student’s account until attendance confirmation has been completed. This confirmation process may take up to six weeks after the first day of classes. Students who receive an early refund and then make changes to their schedule or Financial Aid award, will be responsible for any additional charges incurred as a result of these changes.
Due to the new attendance regulation and change in financial aid disbursement, Student Accounts will also be changing the availability of Book Credits in the Spring semester. Book Credits will be available beginning January 14th, 2019 (the first day of class) thru February 8th, 2019. Students who are unable to complete the necessary early refund steps by the deadline, will still be able to use their excess undisbursed federal aid for Book Credits. For more information about Book Credits, please click here.
Please note that all other aid (besides federal aid) will be disbursed and refunded throughout the attendance confirmation period as usual.
If you have any questions or concerns, please do not hesitate to contact Student Accounts. As always, our office has an open door policy Monday through Friday 9am-5pm. You can also reach us via phone at 703-284-1490 or by email at email@example.com.