Refunds, Advances, and Delinquencies

There are a number of situations you may find yourself in during your time at the School of the Art Institute of Chicago (SAIC) with regard to payment of your tuition or fees.

Read on to learn about delinquent accounts, credit balances, and add, drop, withdrawal, and refunds.

 

. Parents may also send written permission by email to saic.sfs@saic.edu成人短视频, however, it must come from the parent's email address as listed on the Federal Direct PLUS Request or on the Federal Direct PLUS MPN (Master Promissory Note).

From CASH Payments—Credit balances resulting from cash payments (wire transfers, personal checks, money orders, cashier's checks, etc) are held on the student account from semester to semester until the end of each year unless requested by the student in writing from their SAIC email address to saic.sfs@saic.edu成人短视频 or they are no longer enrolled. At the end of the year, after the add-drop session of the spring semester is completed, all credit balances remaining on a student's account will be automatically refunded in order to close out the end of the SAIC fiscal year.

成人短视频The School of the Art Institute of Chicago (SAIC) typically processes refunds of credit balances on students' tuition and fee accounts following the end of the add/drop period and after attendance has been confirmed by the Registrar's office.  The attendance process is typically completed by the end of the 3rd week during the fall and spring semesters, the first week of August during the summer semester and the first week of January for winter term. Students may request an Advance during this processing time, and second Advances can be accommodated by special request to the Student Financial Services office.

成人短视频This is typically when schedule changes are no longer permitted and the Office of Student Financial Services has made adjustments to aid awards based upon the actual number of hours the student is enrolled in for that semester. If the credit on the student account results from federal aid disbursements, the credit balance will be refunded directly to the student or parent (as appropriate) as soon as possible but no later than 14 days after:

- The date the balance occurred on the student's account, if the balance occurred after the first day of class of a payment period, or

成人短视频- The first day of classes of the payment period if the credit balance occurred on or before the first day of class of that payment period.

eRefund is SAIC’s online payment and refund system that allows students who will be receiving a financial aid advance or refund, have their funds directly deposited to the bank account of their choice. This will get your refund to you much more quickly and securely rather than waiting for a check in the postal mail.

Sign up takes only a couple of minutes!

成人短视频You will need your bank’s routing number and your bank account number to get set up.

  1. Log into Self-Service
  2. Select Financial Account 
  3. Click on CASHNet
  4. Save your bank account information, then enroll in eRefund with the following information:
  • Name of the Account Holder
  • Account Type (Checking or Savings)
  • Account Number Routing/Transit Number
Instructions on how to enroll in SAIC eRefund via Cashnet

 

 

) to transfer the proceeds of a Federal Direct PLUS Loan credit balance directly to the student for whom the loan is made (for example, to a bank account in the student's name). Since the student may receive other aid that creates a credit balance, all other credit balance refunds are issued to the student.

Additional Information:

- If you have a refund or an advance in process, you will be notified through your SAIC email address.

成人短视频- In exceptional situations, a “balance owed” may be created on your account if a financial aid advance or refund has been processed and adjustments are made to the award package at   a later date, due to changes in enrollment and/or eligibility for aid. Payment arrangements for any balance owing should be made with the Office of Student Financial Services.

成人短视频- You may be issued a refund earlier if you have a credit balance prior to the end of add/drop due to the disbursement of alternative or federal loans.

成人短视频To receive an advance or refund which will be deposited to your bank account, you must enroll in eRefund in CASHNet.  You can access CASHNet by going to Self-Service > Financial Account > CASHNet.  CASHNet is SAIC's online payment adn refund system. 

 and accessing the "Financial Aid Advance Request" in the right hand column, or  and apply for an advance. Requests are processed in the Student Financial Services office.

You are required to enroll for eRefund in order to receive advances and refunds by direct deposit. You can enroll via SAIC Self-Service by clicking on the CASHNet link. Refunds and advances distributed through eRefund are deposited to your bank account with the exception of credits resulting from a Federal Parent PLUS loan.