Credit Balance Refund Policy
A credit balance results when the total of the credits posted to a student’s account (e.g. Payments, loan disbursements, scholarships, etc.) exceeds the total of the charges applied or applicable to the account for a specific term or semester. A credit balance eligible for a refund is one where the applicable charges and credits have been posted to the account and his/her eligibility for such funds has been reviewed and confirmed or adjusted based on current eligibility, enrollment or any other applicable conditions. If it is a FSA credit balance, all students shall receive a refund of amounts over direct cost within 14 days from the date a credit is created to their student account. Refunds are generated in the form of a check and will be issued only if the student’s balance has been paid in full. If the credit balance is the result of a parent PLUS loan, the refund will be issued to the parent unless the parent has indicated that the refund should go to the student when the Parent PLUS Certification Form was completed. Third parties may be refunded contingent upon changes in enrollment, duplication of awards, and/or eligibility (non FSA credit balances can take up to 3 weeks to receive).
Refunds are calculated based on the actual aid that has been received by the College and posted to the students’ account. Expected aid (pending credits) will not be considered when determining the refund amount.
Please note: Some financial aid programs may not be disbursed until well into the semester, especially for first-time PMC students; please plan accordingly.
Room Damage Deposit:
The room damage deposit it credited back to the student account upon move-out of the dorms. If this results in a credit balance on the account the credit will automatically be rolled over to the next semester or term you are enrolled in. To obtain the credit as a check please e-mail the Bursar your desire to have the credit balance refunded to you.