Student accounts that have been overpaid will show a credit balance. Refunds resulting from the crediting of Title IV funds will be automatically generated within time frames as required by federal regulations. For all other refunds, students can choose to leave the credit on the account to apply to a future term, move all or a portion of the credit to their GWorld card, or request a refund. For the policy and procedures for refunds, please review the Student Tuition Refund Policy. On this page, you can learn about:
- Applying a credit balance to a future term
- Transferring the credit balance to the student's GWorld Card
- Requesting a refund
- Cancelling excess loan funds
- Title IV funds
Students can choose to have their Non-Title IV credit balance held until the following term by logging into GWeb. Once logged in, the student can navigate to Student Records and Registration, then Student Accounts Menu and select Request for Refund. The refund form gives the option to hold all or a portion of the credit balance on the account.
Students can transfer all or a portion of their Non-Title IV credit balance to their GWorld card to be used as Colonial Cash. Once this credit balance is transferred to the student's GWorld Card, this cannot be reversed. This transfer can be done by the GWorld Card Office.
Students can request a refund of their Non-Title IV funds through GWeb. These refunds can be used for other expenses, such as off-campus living. Parents can request a refund for excess Parent Plus loan funds by submitting the Parent Refund Request Form (PDF). Credit balances due to a wire transfer or a credit card payment will be returned via the method in which the funds were transferred to GW.
If the overpayment on the account is caused in part by a federal or private loan, a Change Form may be submitted to decrease or cancel a loan if the funds are not needed. The Office of Student Financial Assistance maintains the Change Forms.
If you have already received a refund for excess loan funds, and are cancelling all or a portion of that loan, you will need to make a payment to your student account to return the funds. Please do not pay the funds directly to the lender if you are submitting a Change Form, as this will result in a balance due with the university.
Federal regulations require that Title IV funds awarded in excess of authorized charges must be refunded no later than 14 days after the funds are credited to the student’s account. In lieu of an automatic refund, federal regulations allow for students or parents to voluntarily authorize the university to handle Title IV credit balances in a variety of ways. For more information on the options available, please review the Title IV Authorization Form for Students (PDF) or the Title IV Authorization Form for Parents (PDF).
For information on recalculated eligibility for Title IV funds due to a withdrawal, dismissal or leave of absence, please review the Return of Title IV Funds Policy (PDF).
Title IV Funds include: Federal Pell Grants, Federal Supplemental Educational Opportunity Grants (FSEOG), Federal Perkins Loans, Federal Work-Study, Federal Direct Stafford Loans, Federal Direct PLUS Loans and TEACH Grants.