It’s not just classes that give you credits. Sometimes, something happens to cause a credit balance on your student account. This might be a result of:
Are you eligible for a refund?
IU Online students
If you’re taking online courses and currently reside in a state other than Indiana, email iuonline@iu.edu for state-specific online course refund policies.
Getting your refund
If you end up with a credit balance, you’ll be issued a refund. It’s usually processed within five business days after the credit is posted to your student account.
When you receive a refund will depend on whether you’ve set up direct deposit or will be receiving a check. (Credit card payments that result in a credit balance will be refunded to the credit card, and should appear within ten business days.)
Get your refund via direct deposit
With direct deposit, your refund will be deposited straight into your checking or savings account. You’ll get your money faster than if you wait for a check—usually within three business days after the processing date shown on your account.
If your bank account changes, update it as soon as possible to avoid delays in receiving your refund.
Get a refund check in the mail
If you haven’t signed up for direct deposit, we’ll mail your check to your local address—so make sure you keep your address current. Mailed checks will usually arrive within 7–10 business days after the processing date shown on your account.
If you don’t receive your refund check within 14 days, you should issue a stop payment request so your refund can be re-sent to you. If necessary, contact the Office of the Bursar to confirm the address to which the check should be sent.
How—and when—refunds are processed
Financial aid is normally credited to your account after the schedule adjustment period ends, and refund should process the same day. After this initial process is complete (or if you are not receiving financial aid), refunds will be processed every Friday.
Exceptions will be handled on a case-by-case basis.
How dropping courses affects your student account
If you drop a course, you may be eligible for a refund of tuition and fees. The refund amount you’ll receive depends on the length of the course and when you drop it. Be sure to check the official calendar for the deadline dates for each refund amount.
| Refund amount | 9–16 weeks | 5–8 weeks | 2–4 weeks | 1 week or less |
|---|---|---|---|---|
| 100% of course fees | 1st week of classes | 1st week of classes | 1st & 2nd days of class | 1st day of class |
| 75% of course fees | 2nd week of classes | N/A | N/A | N/A |
| 50% of course fees | 3rd week of classes | 2nd week of classes | 3rd & 4th days of class | 2nd day of class |
| 25% of course fees | 4th week of classes | N/A | N/A | N/A |
If dropping a course results in a financial aid refund, the Office of the Bursar may need to determine whether the refund is appropriate or if your aid must be adjusted for compliance reasons.