Credit Balance Policy
As a student progresses through his/her education, there may come a time when a credit balance exists in a student’s account. This balance is often a result of financial aid that is over and above the costs of tuition, fees, tools, and other charges. These funds are available to students by the following procedures:
- The Financial Aid Department will notify a student when there is a credit balance on the account.
- The student should schedule an appointment with the Financial Aid Office. The student does not need to visit the office to schedule an appointment. A phone call is acceptable.
- The student should meet with a financial aid counselor to determine if a credit balance exists on the account.
- According to regulation, a school is permitted to hold credit balances if it obtains a voluntary authorization from the student (or parent, in the case of PLUS). PCTI’s policy is that credit balance funds will be distributed monthly in equal payments by check or ACH during your period of enrollment as determined by the Financial Aid Office.
- A student should review and sign the Waiver of Refund and Permission to Retain Funds from Credit Balances on Student Account.
- A student has the right to revoke the credit balance hold at any time in writing.
- If the student would like to receive the entire balance, the student should speak with the financial aid office and/or complete the “Request for Credit Balance” form that is available in the financial aid office.
- It is important to note that credit balances will not be disbursed in anticipation of future disbursements.