Title IV Credit Balance Refund Processing Disclosure
Lansing Community College utilizes a contracted third-party payment processor, TouchNet, to assist in the delivery of Title IV credit balance refunds to students. This processor acts solely as a disbursement agent and does not offer, promote, or market banking products or financial accounts to students.
Students who are eligible to receive a Title IV credit balance refund are provided with refund delivery options that include paper check and/or electronic funds transfer (direct deposit) to a bank account designated by the student. Students may update their refund preference at any time prior to processing. Students are not required to open or use any specific financial institution or account to receive their refund.
All Title IV credit balance refunds are processed in accordance with federal regulations and are issued within the required regulatory timeframe after the credit balance is created. Students are notified when a credit balance occurs and are provided instructions for selecting or updating their preferred refund method.
Because the institution and its payment processor do not offer or market financial
accounts to students, this arrangement does not meet the regulatory definitions of
a Tier 1 (T1) or Tier 2 (T2) cash management relationship under Federal Title IV cash
management regulation 34 CFR 668.164. The Federal Student Aid website contains information
on cash management regulations, including frequently asked questions (FAQ).
For questions regarding refunds or refund delivery options, students should contact the Student Finance Office.