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What happens if I have A Credit Balance (negative) Showing in TigerPay?
What is a Credit Balance?
A credit balance occurs when the total funds credited to a student’s account (e.g., financial aid, scholarships, cash payments) exceed institutional charges (tuition, fees, room, board).
Federal Funds: Must be refunded within 14 days of the credit balance occurring.
Institutional Scholarships: Non-refundable. Morehouse may adjust these to reduce a credit balance.
Refund Process
Frequency: Refunds are processed weekly.
Method: Refunds are direct deposited into the student’s bank account.
To enroll, submit the SFS Direct Deposit Enrollment Form.
Once processed, refunds cannot be stopped.
Incorrect banking info may delay reissuance by 7–10 business days.
Parent PLUS Loan Refunds
Refunded based on the parent’s preference on the PLUS loan application:
- To the student via direct deposit, or
- To the parent via paper check.
Credit Card Refunds
If a credit card was used for payment:
- Refunds go first to the original credit card (up to the amount paid).
- Any remaining balance is refunded via direct deposit.
Important Notes:
- Institutional Awards are non-refundable.
- Awards may be reduced if funding exceeds the Estimated Cost of Attendance.