Refund Calculations

You can use the Refund Calculations page to: 

• View refunds, including the refund calculations performed automatically by the Student Financial Aid Automated Awarding (SFAAA) feature and from servicers (such as Global) 

• Add, edit, or delete an actual or hypothetical refund calculation

• For the refund calculations you added, edit and select the institutional refund

• Process the refunds for students who left your institution before they completed their program (for example, they graduated early or dropped the program).

A refund includes: 

• The refunds to the student or agencies for institutional charges

• If the student received Title IV awards, the amounts that need to be sent back by the student and your institution or the amounts still to be received in the form of a post-withdrawal disbursement (Return of Title IV)

You can also: 

• Post or unpost refunds

• Print the results of the calculation

Once your institution has configured its refund policies, you can calculate the best refund for the student. The order to return fund sources is configured in the refund policies at your institution.

The Refund Calculations grid shows the items for the program version for the current enrollment (if any). Use can use the Program Version drop-down to change the program version. If the student is a lead, you can select All Program Versions. The page also displays the Expected Refund Processing Date The date by which the refund should be processed. It is the value for Date of Determination (DOD) plus the number of days your institution configured for the campus for the number of days to add to the DOD to calculate the due date..

Prerequisites

You must have Common - Student - View authorization. The remaining authorizations that are required depend on the type of calculation.

Type of Calculation	Required Authorization
Actual	To view, Student Accounts Student - Refund Calculation - View Student Accounts - Student Refund Calculation - Allow Refund Calculation
Hypothetical	To view, Student Accounts Student - Refund Calculation - View Either:  Student Accounts - Student Refund Calculation - Allow Hypothetical Student Accounts - Student Refund Calculation - Allow Refund Calculation

You should be familiar with the Background for Refund Processing

If your institution uses Return of Title IV calculations, you should also be familiar with the:

• Background for Return of Title IV, Fields, and Processing

• Background for Processing Worksheet Steps.

Access Method

Select the Students tile > select the name in the Students list > expand Student Accounts > select the Refund Calculations or Hypothetical Refund Calculation tile.

If Anthology Student displays the: 

• Hypothetical Refund Calculation tile, you are only authorized to view and work with hypothetical calculations

• Refund Calculations tile, you can view and work with both actual and hypothetical calculations.

Process to Calculate and Process Refunds

Add, Edit, or Delete a Refund Calculation

View, Edit, and Select the Refund

Post or Unpost a Refund Calculation

Print the Results of a Refund Calculation

Edit the Payee Information Recalculate a Refund

Columns

Calculation Name The name of the refund calculation record. Calculation Type Indicates whether the refund calculation is actual or hypothetical. You can select Actual if the student status is graduate, complete, or drop. Hypothetical is selected and cannot be changed for all other student statuses. Even though you can select Actual for a student with a status of graduated or complete, the Return of Title IV calculation does not apply to those students. Date Calculated The date when the refund was calculated. DOD The date a student's enrollment status first becomes effective.

LDA The student's last date of attendance. Status The status of the refund. The values are Calculated and Posted. Calculated indicates it has been calculated. Posted indicates it has been posted. You can select the refund calculation to view the values, but they cannot be changed and the refund cannot be recalculated unless you undo the posting. Title IV Calculated By The first and last name of the staff member who performed the Return of Title IV calculation. If there was no Return of Title IV calculation, it is blank. For example, there is no Return of Title IV calculation if the student did not receive financial aid. Withdrawal Date Date student withdrew from a program.