Refund Students

Configure:

The Student Refund Rule payment election.

Override Payment Types to prenote student debit accounts.

The Pending Student Refund Event
business process in the Student Financials functional area. See: Steps: Configure Business Process Definitions.

You can generate refunds for students with credit balances, after applying charges from:

Refundable Payments.

Financial aid awards.

Sponsor contract payments.

You can also refund parent borrowers of PLUS Loans when the balance option on the loan application specifies the borrower as the payee.

Workday enables you to refund:

A student's entire on-account balance.

Certain types of payments only.

Partial amounts of specific payments.

Access the relevant task:

Option	Description
Generate Pending Student Refunds	Enables you to refund multiple students at once. You can refund students the full amount of each payment type that you select. To exclude students from a refund, in the Additional Criteria section, select a report with an Exclude from Refunds tag and a data source of Students .
Create Pending Student Refund	Enables you to refund 1 student. You can select individual payments to refund and specify how much of each payment to refund.

In the

Student Selection Criteria

section, define the population to refund.

In the

Payment Selection Criteria

section, identify the types of payments to refund.

When you clear the

Reassess these accounts

check box, Workday bypasses reassessment and refunding of any out-of-date student financial accounts.

(Optional) As you complete manual student refunds, consider:

Option	Description
Process Refund as Check Override	Select this check box to generate the refund as a check, regardless of the original form of payment.
Refund Amount	Enter a part of the On-Account Payment Balance to retain a portion on the student account.

The refunds are ready for settlement. When the settlement completes, Workday issues direct deposit refunds according to the student's payment elections. Workday generates checks when:

The payment type for the Student Refunds election is Check
or the election doesn't have a bank account.

The student doesn't have any payment elections.

Refunding parents for PLUS Loans.

You can view the refund details by accessing:

The

Find Pending Student Refunds

report for the company associated with an academic unit.

The

Account Transactions

report on the

Student Financials

profile group of a student profile.