Your Student Refund Through BankMobile
When it comes to receiving financial aid refunds and other credit balances, you deserve choices! Northeastern has partnered with BankMobile Disbursements to deliver any refund money we may have for you. You will select your refund preference using your personal code, which will arrive in your Refund Selection Kit. This kit will be sent in a bright green envelope to your address on file with Northeastern.
For more detailed information regarding BankMobile please visit the Bank Mobile website
Returns and Refunds Policy
A refund of 100% tuition and fees will be made if a student officially drops a class before the census date (the last day to drop a class for a term). There will be no refund after that date.
When a student completely withdraws from Northeastern during a term a refund of room and board will be made as follows:
Room and Board will be refunded on a per week basis up to the 8th week of the term.
If the student has Title 4 federal financial aid, a portion of these grants or loans must be returned to the programs based on the date the student withdrew from college. If the withdrawal occurs after 60% of the term is completed, no return of these federal funds will be required.
In order to calculate the amount to be returned the withdrawal date will need to be determined. This will be the date the student began the withdrawal process as prescribed by the college with official notification of intent to withdraw. If the student drops without any of the above notification, the midpoint of the term will be used as the withdrawal date. If the withdrawal process was not begun because of illness, accident, grievous personal loss, or similar circumstances beyond the student's control, NJC can determine the appropriate withdrawal date.
The amount of unearned institutional charges and unearned Title 4 funds based on the number of days in attendance to the withdrawal date will be calculated. NJC will then return to the Title 4 programs the lesser of the unearned institutional charges or the unearned Title 4 assistance. The student will return any remaining unearned Title 4 funds. (If the student needs to return funds to the Pell or SEOG programs based on the return priority, they need to return no more than 50% of the original award amount.) The loan amount the student needs to return will be repaid according to regular repayment schedule for the loan. The school refund to the loan will be credited to the original loan amount. The amount a student needs to return to grants will be collected from the student by the school and then repaid to the grant program.
The order of return of Title 4 funds will be as follows:
- Un-subsidized Stafford Loans
- Subsidized Stafford Loans
- Plus Loans
- Federal Pell Grants
- Federal SEOG