Refunds
Students may qualify for a refund from the University if Financial Aid credits and/or overpayments are in excess of charges on the student account. to sign up for a Refund Direct Deposit Profile in order to receive your refund.
Paper checks will be mailed to the permanent address on file in LOCUS. Checks will no longer be available for pick up.
Note: If a valid permanent address is not on file in LOCUS, a refund will not be processed. To correct or update your Permanent Address, simply log into your LOCUS account and select "Profile" and then "Addresses." Update your PERM address type and save your edits.
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If you would like to update your Loyola password, please follow the directions on the Information Technology Services website found here /its/services/passwordmanagement/resettingyourpasswordfromoff-campus/
Update to LOCUS Phishing Breach - August 28th, 2024 Jim Pardonek
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If all required Financial Aid documents have been submitted and completed, Financial Aid (loans including Title IV funds, grants, scholarships and fellowships) will begin to post to the student鈥檚 account as follows:
- Graduate students: 7 days prior to the start of the term
- Undergraduate students: After the end of the add/drop period approximately 2 weeks after the start of the term
A refund can only be generated if the student鈥檚 overall balance in LOCUS is a credit (or negative amount). Refunds continue to be processed throughout the school year whenever overall credit balances exist. Title IV excess credits are therefore processed within 14 days after they are disbursed to the student account.
- Select 鈥淔inancial Account鈥�
- Select 鈥淎ccount Summary by Term鈥�
- Click on the current term
- The student can view:
The date the refund was generated
The expected amount of the refund
The type of refund issued: Check, Direct Deposit, or Credit card
Direct Deposit: Funds are electronically deposited within 2 banking days (after the refund is generated in LOCUS) into the student鈥檚 checking or savings account. Log into LOCUS to set up/update your direct deposit profile. For instructions and more information, .
Paper checks will be mailed to the permanent address on file in LOCUS. Checks will no longer be available for pick up.
Check: Student refund checks will be available for pick up the week after the refund is processed in LOCUS, only on the following days at the Lake Shore Campus Bursar鈥檚 Office Cashier counter, located in the Sullivan Center. A student ID is required.
- Wednesdays: Noon鈥�4:30 p.m.
- Thursdays: 8:30 a.m.鈥搉oon
Note: If a student refund check has already been generated and you are unable to pick up your refund in person, we suggest that you create a Direct Deposit Profile in LOCUS as soon as possible. Contact the Bursar鈥檚 office at bursar@luc.edu to inform us that you have completed and saved your profile. We will mail your initial refund check to the permanent address on file in LOCUS, and all future refunds will be directly deposited into the checking or savings account you designated and maintain as needed.
The Bursar's Office will send two email reminders for unclaimed checks to your LUC email address. By the 14th day after disbursement, any remaining unclaimed checks are mailed.
Lost Checks: If a refund check is not cashed and the student requests a replacement refund check, a $25 Replacement Refund Check Fee will be taken out of the refund amount. To avoid this fee, a student can create a Direct Deposit Profile in LOCUS and the refund will be re-issued as a direct deposit into the account the student indicates.
If a Parent Plus Loan created an overall credit (negative amount) balance in LOCUS, the student may be eligible to receive the refund via direct deposit ONLY with permission from the parent. Otherwise, paper checks are normally issued directly to the parent and mailed to the parent's address in the student system.
Credit Card: Excess credits created by payments made by credit card via TouchNet will be refunded back to the credit card used, less the 2.95% convenience fee previously paid and retained by TouchNet.
