Answer
A refund is funding that has been returned to the federal government, school, or alternative source.
This can happen if the student has withdrawn from a course or the university and it has caused a change in the cost of tuition or fees. The loans will be returned to the lender to reduce the student's overall loan balance.
If this happens to a loan, that portion of the loan acts like it never existed. There are no fees attached and any interest accrued on that portion of the loan goes away.
This can happen if the student has withdrawn from a course or the university and it has caused a change in the cost of tuition or fees. The loans will be returned to the lender to reduce the student's overall loan balance.
If this happens to a loan, that portion of the loan acts like it never existed. There are no fees attached and any interest accrued on that portion of the loan goes away.