Student Business Office Refund Balance Authorization

Student Business Office Refund Balance Authorization
Student ID*
Student Name

First NameLast Name
Academic Year*

Before You Choose
LUBBOCK CHRISTIAN UNIVERSITY
AUTHORIZATION TO HOLD A REFUND BALANCE

Through this document, you will tell Lubbock Christian University (LCU/the University) how you would like the University to manage the Federal Student Aid (FSA) and non-FSA refund balance on your student account.

An refund balance is created when the total of all aid credited to a student’s account exceeds the total of tuition, fees, room, board, and other eligible educational charges on a student’s account.

Unless a student or parent (in the case of a Parent PLUS Loan) authorizes the University to hold a refund balance, the balance must be paid to the student or parent as soon as possible—but no later than 14 calendar days after the balance is created (or 14 calendar days after the first day of class if the credit balance was created before the first day of class).

If signed by you, this authorization allows Lubbock Christian University to retain your refund balance according to your selection below and pay it to you (the student or parent, as applicable) in accordance with the University’s Procedure for Paying Refund Balances.

Refund Choice
Please select your refund choice:*

Option 1: Move to Future Semesters - I authorize the Student Business Office to apply any excess loan funds from the current term to my balance for the next semester. I understand that this is not a refund and that these funds will remain on my student account.Option 2: Refund to Me - I would like to receive a refund of any excess loan funds via the method I selected during my registration with Herring Bank. I understand that this amount must be repaid as part of my student loan and should be used for educational expenses.Option 3: Hold on My Account - I authorize the Student Business Office to retain my excess loan funds on my account to be used toward future charges within the academic year. I understand that I may request a refund at a later date of the remaining balance after all fees have been paid, if needed.Option 4: Opt-Out - If you prefer not to make a selection or receive any more updates about your refund selection, you may choose this option.Option 5: Withdraw Authorization - I wish to withdraw my authorization for Lubbock Christian University to hold or manage my account refund balance. I understand that any existing balance will be refunded within 14 calendar days and that I will be responsible for paying any future charges directly.
What This Means:
- Your extra funds will be applied to next semester’s balance.
- No refund will be issued to you at this time.
- This is a one-time transfer for the current academic year. A new form must be submitted for future years.
What This Means:
- You will receive your refund through your chosen Herring Bank disbursement method (direct deposit or card).
- Refunds typically process within 14 days of aid disbursement.
- These funds are part of your student loan and should be used for education-related costs.
What This Means:
- Your funds will remain on your account to cover future charges during the same academic year.
- You can request a refund later if your situation changes.
- This hold expires at the end of the current academic year.
What This Means:
- You are choosing not to select or update your refund preference at this time.
- If funds become available, they will be processed according to federal disbursement guidelines (typically refunded within 14 days).
What This Means:
- You are removing permission for LCU to hold or apply excess aid funds.
- Any current credit balance will be refunded within 14 days.
- You must pay future charges directly to avoid late fees or holds.
- This cancellation is not retroactive.

Student Acknowledgement
Student Acknowledgment

By signing below, I acknowledge that I have reviewed and understand the available options for handling my student account refunds. I understand that loan funds are borrowed money that must be repaid with interest to the loan processor, not to the university, and I have selected the option that best fits my financial situation. I also understand that this form is not required but will help make the management of my account more efficient.
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