Credit Balance Policy

Federal regulations require Neumont College of Computer Science to obtain written authorization from students (and parents in the case of Parent PLUS loans) so that we may appropriately apply the disbursements of Title IV financial aid funds. Title IV funds include grants (PELL, SEOG, and IASG) and loans (Direct Subsidized, Unsubsidized, and Parent PLUS Loans).

This written authorization may be submitted using Neumont’s Student Title IV Credit Balance Authorization form and/or the Parent Title IV Credit Balance Authorization form (in the case of the Parent PLUS Loan). These forms are available through the Office of Financial Aid.

Through the authorization forms, a student (or parent in the case of the Parent PLUS Loan) may elect to authorize or not authorize Neumont with the following:

To pay outstanding and non-institutional charges, and to pay prior year charges (not to exceed $200).
To retain a credit balance on the student account to pay charges or stipends within the same academic year.
To return a credit balance to the student or parent at the end of an academic year.

If a student chooses to have a credit balance returned to them, a refund will be made to the student within 14 days. Neumont recommends direct deposit of funds so that students may receive their funds quickly.

If a credit balance exists at the time of withdraw, it will not be disbursed until after the completion of the Return to Title IV Calculation, as the credit balance may no longer exist. A credit balance may also be created through the completion of the Return to Title IV Calculation. In these cases, Neumont will disburse the credit balance within 14 days after the completion of the Return to Title IV Calculation.