- Credit Balance
- Tuition Credit
If you have a credit balance on your account (for example, if you have received financial aid in excess of your current charges, or dropped courses resulting in a change in tuition), see below to learn about getting access to the extra.
LeTourneau University partners with Nelnet to provide a convenient method for all students to receive any refunds they may be eligible for. The choice on how you wish to receive your refund is yours!!
You will need to Create an Account with Nelnet, and then Enroll in a Refund Method, so that you will be prepared to receive any future refunds. For a Refund Method selection, you will select from a Direct Deposit option or a reloadable debit card option.
To Create an Account:
- Log on to your MyLETU account
- Select the Student Accounts Tab
- Then select the Refund Management option on the left hand menu
- You will then have a button to select Refund Management. This will take you to the Nelnet site.
- Follow the prompts to Create an Account
- After creating an account-select Manage Refunds from the Home tab to walk through Enrolling in a Refund Method
For questions or further assistance, you can contact the Student Accounts office.
Below is more information to help with questions you may have:
Who is Nelnet?
Nelnet is an industry leader in partnering with schools to provide refunding and payment services through a convenient student portal. Choices for refunds include an electronic deposit to the students' bank account or deposit to a reloadable debit card supplied by the student.
What are my options for receiving a refund?
- Direct Deposit to a bank account provided by the student
- Deposit to a reloadable debit card provided by the student
How do I select a Refund Method?
- Log on to your MyLETU account
- Select the Student Accounts Tab
- Then select the Refund Management option on the left hand menu
- You will then have a button to select Refund Management. This will take you to the Nelnet site.
- Follow the prompts to Create an Account
- After creating an account-select Manage Refunds from the Home tab to walk through Enrolling in a Refund Method
What kind of refund could I receive from LETU?
- excess funds from your Financial Aid awards, loans or grants after your tuition has been paid
- credit balance resulting from a dropped course (following the refund policy for tuition)
- overpayments made by the student
What if I don't make a Refund Method selection?
Although you may not currently expect to receive a refund, you may receive one in the future. By making a Refund Method selection now, you will be able to ensure that you'll always have your refund delivered in the method that is convenient for you and easy to access. If you do not have a Refund Method on file when a refund is uploaded for you, you will be contacted to remind you to set up a Refund Method.
Can I change my Refund Method after it is set up?
Yes, you can change your Refund Method through your Nelnet portal. After logging into Nelnet, changes can be made by selecting Manage Refunds.
Will I be notified when a refund is being processed?
Yes, you will receive an email notification that a refund is in process. This notification will also notify you that you have 24 hours to make any updates to your Refund Method should your account information have changed since you established a Refund Method.
When will refunds be issued by the school?
Refunds will be issued by the school on a set schedule with funds being processed through Nelnet once a week initiated each Wednesday.
What if I have additional questions?
For additional questions or assistance, please contact the Student Accounts Office at 903-233-4140 or StudentAccounts@letu.edu.
If you're withdrawing from LeTourneau or have dropped classes resulting in a change in your tuition, see below to learn how we calculate the difference to be returned to you.
GENERAL POLICIES
Tuition, lab fees, room and board and other related charges will be refunded to the student's account based upon the student's official withdrawal date. Please refer to the tables below for the refund policy based upon the course type and length.
Refunds for Financial Aid funds are calculated in the following manner:
- The amount that the student is to be charged for the actual time period enrolled is first determined.
- The amount that the student was expected to pay for the term enrolled is determined. This amount is calculated based on federal guidelines for return of Title IV (federal) funds up to and including the date on which 60% of the term is completed.
- If the amount the student was expected to pay exceeds the charges for the time enrolled, the student will receive no federal financial aid. This may result in the student owing the University funds, despite the fact that they previously expected the assistance of federal financial aid. This is a federally-mandated refund policy.
- If the amount the student was expected to pay from their own funds does not exceed the charges for the time enrolled, then the student will be allowed to retain a portion of the federal financial aid (according to federal regulations) to pay the difference between what they were expected to pay from personal funds and what they were actually charged.
- Students who have received federal Title IV funds as part of their financial aid packages will be required to return those funds in the following order of priority:
- Federal Family Education Loan (Stafford Loan) Unsubsidized funds
- Federal Family Education Loan (Stafford Loan) Subsidized funds
- Federal Perkins Loan Program funds
- Federal PLUS Loan funds
- Federal Pell Grant Program funds
- Federal SEOG Program funds
- Other Student Financial Aid funds
- A proportion, corresponding to the refund rate, of any institutional grant money awarded will be allowed to help cover the amount the student was charged for the time period enrolled. This will be figured after all the above calculations have been made.
- Since the refunds must be coordinated with the various lenders, please allow 30 days for the University to finalize the credits and/or adjustments to the student's account. After this process is completed, if a refund is due it will be mailed to the address on record. In addition, if charges remain due, an invoice will be mailed to the student.
CREDIT SCHEDULE FOR TRADITIONAL STUDENTS
| Week | 1 | 2 | 3 | 4 | 5 | 6+ |
|---|---|---|---|---|---|---|
| Tuition Credit | 100% | 95% | 75% | 50% | 25% | None |
CREDIT SCHEDULE FOR NONTRADITIONAL STUDENTS, 3 CREDIT-HOUR FULL-SEMESTER COURSES
| Week | 1-2 | 3 | 4 | 5+ |
|---|---|---|---|---|
| Tuition Credit | 100% | 75% | 50% | None |
| A $25 administrative drop fee also applies. | ||||
CREDIT SCHEDULE FOR NONTRADITIONAL STUDENTS, 3 CREDIT-HOUR 5- OR 7-WEEK COURSES
| Prior to 1st Class Session | Prior to 2nd Class Session | Prior to 3rd Class Session | After 3rd Class Session | |
| Tuition Credit | 100% | 60% | 40% | None |
| A $25 administrative drop fee also applies. | ||||
CREDIT SCHEDULE FOR NONTRADITIONAL STUDENTS, 1 OR 0 CREDIT-HOUR COURSES
| Tuition is credited only if written notification of dropping is provided prior to the course start date. A $25 administrative drop fee applies. |
CREDIT SCHEDULE FOR NONTRADITIONAL STUDENTS, INTERNSHIP OR STUDENT TEACHING
| Week | 1-2 | 3 | 4 | 5+ |
|---|---|---|---|---|
| Tuition Credit | 100% | 75% | 50% | None |
| A $25 administrative drop fee also applies. | ||||
CREDIT SCHEDULE FOR DUAL CREDIT STUDENTS
| Week | 1-2 | 3 | 4+ |
|---|---|---|---|
| Tuition Credit | 100% | 80% | None |
|
A $25 administrative drop fee applies. Tuition is credited only if written notification of dropping is provided. To drop a class, please submit your request to DualCredit@letu.edu and include your name, student ID#, and course and section you wish to drop. |
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