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University Refund Policy

Refund Delivery Policy - Credit Balances

The university prefers that all refunds to students be delivered via electronic fund transfer (E-Refund). Students should enroll in E-Refund at least 10 days before the first scheduled disbursement.

  • Financial aid refunds are processed weekly after the 100% drop period of the start of a term. Federal regulations require that excess be disbursed within 14 days from when funds are credited to the student's account (not when awarded).
  • Students will be notified via email when an E-Refund has been disbursed. Students should allow at least 24 hours for the funds to be credited to their bank account.
  • Students can set up E-Refund by following these steps:
    • Log in to Saints Connect
    • Click on "Student Finance Self Service"
    • Select "Make Payment/Confirm"
    • Click "Continue to Payment Center"
    • Click "I Agree"
    • Select "Electronic Refunds" followed by "Set Up Account" and select "Account Type"
      • After completion of the two-step verification you will receive a message stating your information has been saved

Students who do not enroll in E-Refund

The financial aid refund will be disbursed by check. The check will be mailed to the student's preferred mailing address as indicated in university records. If a mailed check is not received at the preferred address, there a 10 business day waiting period before a replacement check can be issued.

Disbursements can be checked by logging in to the myOLLU Portal, click "Student Finance" under Self Service and selecting "View Current Activity." Estimated financial aid is considered pending aid and is not subject to refund until finalized.

Students can view, at any time, when their funds are posted to their account in Student Finance by selecting "View Current Activity" and review disbursements. Estimated financial aid listed is considered pending aid and is not subject to refund until finalized. 

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