Refunds

Refund PoliciesTuition Refund Insurance | Refund Deadlines | Overpayments/Excess Aid | Set up a Direct Deposit e-Refund | Textbook ChargesRequest a Refund Now

Refund Policies

The university's refund policy is published in each of the university bulletins: the undergraduate bulletin, the graduate bulletin, and the law bulletin. Specific deadline dates are customarily published in each semester's academic calendar available on the web site. A quick link to the current semester's refund schedule can be found here.

The university’s general policy on refunds is described below. Federal statute requires an alternate calculation for recipients of federal Title IV financial assistance.  This alternate refund calculation is described in the Refund Policy section of the university bulletin and is initiated by the Scholarships and Financial Aid office.   Please note that this alternate calculation may affect the amount of money you owe or is owed to you by the university.  

Tuition

Full-time students who withdraw from the university or part-time students who drop a course(s) may be entitled to a refund of all or a percentage of their tuition. Refunds are available through direct deposit or through a check. Students who withdraw must return a completed withdrawal form to the Office of Student Records. Mere cessation of attendance does not constitute withdrawal.  The date of receipt of the withdrawal notice by the Office of Student Records will determine the amount of tuition refund. Refunds are a percentage of the tuition payable in the semester in which the student withdraws, not a percentage of the total amount billed. Only tuition is refundable. No refunds are made when a student is suspended or dismissed for academic, disciplinary, or financial reasons, or when a full time student reduces their course load to part time after the deadline for 100% refund.

Fall/Spring Semester

Tuition refunds are made for the normal fall and spring semesters on the following basis:

  1. If formal notice is received within two weeks after the beginning of the semester, a refund of 100 percent of tuition is made.
  2. If formal notice is received within five weeks after the beginning of the semester, a refund of 50 percent of tuition is made.
  3. No refunds are allowed after the fifth week of classes.

Summer Semester/Special Session

Since special sessions, short sessions, and summer sessions vary in length, students are encouraged to refer to the academic calendar for those refund deadlines. Click here for a quick link to the current semester's refund schedule.

Medical Withdrawal
Students forced to withdraw for medical reasons are referred to the Office of Student Affairs for special medical withdrawals.

Room & Board

Students who withdraw from the university may be entitled to a refund of all or a percentage of their room and board charges.  Students who withdraw must return a completed withdrawal form to the Office of Student Records that includes appropriate signatures from the Office of Residential Life and the Office of Student Affairs.  Mere cessation of attendance does not constitute withdrawal from the university.  Amount of refund will be determined by the date of receipt of the withdrawal notice by the Office of Student Records, or the date of official check out from the student's assigned residence hall, whichever is later.  No refunds of room or board will be made when a student is evicted, suspended, or dismissed for academic, disciplinary, or financial reasons.  Residence council fees are non-refundable.

Fall/Spring Semester

  1. If formal withdrawal notice and residence hall check out are received within two weeks after the beginning of the semester, a refund of 60% of room and board, less actual Wolf Bucks used, is made.
  2. If formal withdrawal notice and residence hall check out are received within five weeks after the beginning of the semester, a refund of 50 percent of room and board, less actual Wolf Bucks used, is made.
  3. If formal withdrawal notice and residence hall check out are received within nine weeks after the beginning of the semester, a refund of 25 percent of room and board, less actual Wolf Bucks used, is made.
  4. No refunds on room or board are allowed after the ninth week of classes.

Summer Semester/Special Session

During summer sessions, room and board charges will be pro-rated to actual usage, rounded up to the next full week when a student officially withdraws.  However, no refunds on room or board will be given after 50% of the session has expired.  Unused Wolf Bucks purchased for the summer sessions are not refundable other than by official withdrawal from the university, but are carried forward to the next academic year for students who continue their enrollment at Loyola.

Back to top

Tuition Refund Insurance

With the current level of education costs, we have a concern for the student who suffers a serious illness or accident and has to leave Loyola before the semester is completed.  In many instances, it means not only the loss of time invested in studies, but also the loss of the semester's costs.

You can protect your college investment with Tuition Refund Insurance. This elective coverage offers up to a 100% refund for covered educational expenses, up to the policy limits, for students who can't complete classes for the semester due to a covered medical reason.

Learn more, or call our Tuition Refund Insurance provider at (877) 445-0264 with questions.

Back to top

Overpayments/Excess Aid

Tuition Refund

When a student withdraws or reduces their enrollment, the student may be entitled to a tuition credit.  Please refer to the tuition refund schedule.

A refund will be processed only after the withdrawal/drop process has been finalized and the Office of Student Finance verifies that no further adjustments will be made to the student account.  For this type of refund, the credit will be returned depending on the original payment method.  If any portion of the bill was paid by credit card, the refund will be issued back to the originating credit card.  In the case of multiple credit card payments, the most recent card used will be refunded.  If any portion of the bill was paid by personal check, a refund may be issued after the personal check clears.

Credit Refund

If a credit exists on a student account due to an overpayment or excess financial aid, a refund may be issued to the student upon request.  If any portion of the bill was paid by personal check, a refund may be issued after the personal check clears.  

Back to top

Direct Deposit e-Refunds

Click here to view our instructional video on Creating an e-Refund Profile

Loyola University New Orleans is offering this free service to its students who are eligible for refunds.

To have your tuition refund directly deposited into your checking or savings account, you must setup your e-Refund Profile. Once your profile has been created, complete the Online Refund Request Form.

(If you prefer a check mailed to you, please do not complete the e-Refund Profile or if you have one set up, please delete it. Refunds to parents and other third party payers cannot be made by e-Refund. Checks will be mailed for these refund requests.)

Please make sure to complete all fields when completing your e-Refund Profile. Failure to do so could cause the direct deposit to be rejected by your financial institution.

E-Refund Profile Setup Instructions:

  • Log in to LORA
  • Under the Tuition and Billing section,
  • Select Account Summary / Pay Tuition / Request Refund
  • Click on the Pay Tuition Online / View e-Bills / Add Authorized Users / Create e-Refund Profile

Once you have read the instructions, click YES to proceed to our secure e-Commerce system

  • On the top menu bar, click the eRefunds tab
  • You may set up an account for direct deposit or edit an existing one
  • Enter the information requested
  • Read and accept the agreement with Loyola University New Orleans
  • A message will appear confirming that your ACH refund account has been saved. Any refunds to the student will be processed using this direct deposit account until you change or remove it.

Please Note: e-Refunds can only be processed to the student and only if the student has a checking or savings account stored within the e-Commerce system. No parent or 3rd party refunds are allowed through the e-Refund process.

Back to top

Textbook Charges

If you usually get a financial aid refund, read on! Once your aid has arrived and paid your tuition bill, you may have excess funds for books. Now you may be allowed to charge your textbooks directly to your tuition account - without waiting for your refund or waiting in line for a book voucher.  Limits apply:

  • Use for Textbooks only
  • Max $600 undergraduates; $1,000 graduates and law
  • Available throughout add/drop period — usually first 2 weeks in fall and spring semesters

Ask Follett Bookstore if you have credit available for your textbooks. They can tell you if you have available funds, meaning that you have excess financial aid or other available credit on your tuition account. Then be sure to include that amount on your refund request so we don't have to bill you for it later. In the event your refund is generated without deduction for bookstore charges you made, or if any financial aid or credit is reduced after you charge your textbooks, you are responsible to the university for the charges.

Back to top

Request A Refund

Click here to view our instructional video on Requesting a Refund

After all tuition, fees and other charges are paid and you still have excess funds in your student account, you may request a refund or a deposit to your Express CardDirect Deposit refunds are now available and can easily be set up.  Click here to learn more about setting up an e-Refund profile.

A refund can be requested by using our online refund request form or from the Account Summary page in LORA. Refunds usually require about a week processing time and will be released only when all funds are received. However, if payment was made by credit card, the same card used to make the payment will be refunded; see our Overpayment/Excess Aid section above. If you want us to transfer funds to your Express Card for use across campus, just let us know how much you want us to transfer on the online refund request form or contact the Student Finance Office.

Proceed to Online Refund Request Form   
Even if you have set up an e-Refund profile, you will need to include your address on the refund request form.  It will be used only if the e-Refund is rejected by your financial institution.

 

Back to top