When the amount of your financial aid or loans exceeds the amount billed by LMU, there will be a credit balance on the student account. Some students are eligible for a financial aid refund of their credit balance.
Financial aid is typically disbursed for undergraduate students four weeks after classes start each semester. LMU graduate and professional programs have unique disbursement dates based on individual academic calendars. When a student’s financial aid exceeds their charges, the student may be eligible for a refund. Students can check to see if they have an account credit or balance by logging into their MyLMU account and going to the "Self-Service Menu," selecting "WebAdvisor for Students," and then "View Account and Make Payments." A negative sign before the amount due indicates a credit on the account. Not all credit balances are refundable. All institutional scholarships must be applied toward tuition, fees, and on-campus housing and food expenses. All federal, state, and institutional grants are credited to the student's account first, and any scholarships are applied to the balance of the student's aid eligibility for the semester.
It is recommended that students set up direct deposit for refunds. To set up direct deposit:
Once an account is added, verification can take up to two weeks. If a direct deposit is not set up or account verification is not complete, a paper check will be mailed to the student’s address on file. Students must ensure their mailing address is current. Students can check and/or update their mailing address through the "My Profile" option under "WebAdvisor for Students" in MyLMU or by contacting the Office of the Registrar.
