What Students Need to Know About Refunds
Students expecting refunds from Financial Aid should start seeing information on their myLSUE accounts as Tuesday was the first official posting by the university. The process is one that raises the most questions around campus.
If the university owes a student funds because their aid is greater than tuition, here is what happens:
First the school must wait 14 class days to verify the enrollment of the student. This is to prevent loan runners: students who accept their aid, get their refunds, and never show up for classes. The 14-day wait allows the university to ensure that students are actually attending classes.
After the 14th day, financial aid begins processing and verifying that a student is attending class and is eligible for a refund. This process can take up to 1 to 2 weeks because of the large numbers of students that need to be checked. That leads to the first official posting of the semester, which many students should see on their myLSUE accounts. The first posting was Tuesday, February 19, 2013.
The posting includes a message on their myLSUE accounts displaying a listing of the type of aid posted, the amount of aid, and a time frame in which the students should get their refund check.
"The Business Office takes over and has to verify information as to addresses, the balance of aid is correct and so forth," said Assistant to the Vice Chancellor for Business Affairs Donnie Thibodeaux. "Once that is finished, that information is then sent to LSU Baton Rouge. LSU Baton physically prints the checks for us."
The verification process by the Business Office can take 2-3 days due to the large number of students that need to be verified in the first posting.
Thibodeaux added that once checks are printed in Baton Rouge, they are then sent back to Eunice and a sorting process begins. Checks for students who owe the university or Bengal Village are pulled.
According to Thibodeaux and the Financial Aid Office, the address used to send a student's check is the address that the admissions office has on file for them.
Students will receive notification that the Business Office has a disbursement of their funds.
"That doesn't mean that the check is here," said Thibodeaux. "That means that we've actually requested the check. It takes a few more days from the time the disbursement is on their account to the time they receive their check."
The whole process can take up to 2 weeks, and then it begins again.
"If they did not get notice of disbursement on February 19th that means that [the Financial Aid Office] is working on processing their financial aid. The problem being one or two things. Either they were late applying for the financial aid through FAFSA or there is a problem with their financial aid in regards to verifying information."
That is why the University has several postings during the semester. If a student was not part of the first posting, Financial Aid will explain what prevented their funds from being including in the first round of refunds. Students should contact the Financial Aid Office at 550-1282.