Traditional Student Refunds
The Business Office processes refunds every working Friday for our traditional undergraduate students, unless the student has elected to hold aid on their account for the year. You must have a credit balance on your account for it to be reviewed for a refund. Please check the Financial Aid Portal in your my.IndianaTech account to make sure all of your financial aid information is completed so the Financial Aid Office can disburse your awards to your student account. Once this is done, if you have a credit balance on your account, the Business Office has 14 business days to send your refund to you.
How it Works
Students in our traditional undergraduate program are billed and refunded per semester, unless the student has elected to hold aid on their account for the year
Student Financial Services will bill your semester tuition after the withdrawal period has ended, normally the end of the third week of classes. Once this is completed, the Financial Aid Office will post financial aid funds in the fourth and fifth weeks of class, as long as they have received all the needed documentation.
If the financial aid funds posted to your account total more than your bill, you will have a credit balance. If you have a credit balance, you will be automatically reviewed for a refund. The review process can take up to 14 business days to complete.
Indiana Tech delivers your refund with BankMobile Disbursements, a technology solution, powered by BMTX, Inc. For more information visit the BankMobile Disbursement website.
To view our third-party services contract for refund management click here.
Reversal of Financial Aid
There are circumstances that require Indiana Tech to reduce the amount of financial aid that was posted to your account. These circumstances are often the result of a student not registering for enough classes, dropping classes, failing to attend classes, and/or not performing well in classes. When this occurs, the Financial Aid Office reduces the award which results in the appropriate funds being pulled from your student account and sent back to the appropriate loan or grant. If a refund of excess financial aid has already occurred, you will be notified of the need to pay these funds back to Indiana Tech.
If you need assistance with your BankMobile disbursement, please contact BMTX, Inc. by visiting BMTX Contact.