The College’s policy is to refund eligible credit balances from student bursar accounts in compliance with all applicable regulations. NEO complies with the U.S. Department of Education rules and regulations in accordance with The Federal Student Financial Aid Handbook instructions.
A credit balance results when the total of the credits posted to a student’s account (e.g., payments, loan disbursements, scholarships, etc.) exceeds the total of the charges applied to the account for the semester. College housing charges are included in their entirety in the semester charge total.
A credit balance eligible for a refund is where all the applicable charges and credits have been posted to the account and his/ her eligibility for such funds has been reviewed and confirmed or adjusted based on current eligibility, enrollment or any other applicable conditions.
Anticipated funds, including anticipated financial aid, are not considered credits to a student’s account until the funds have actually been disbursed to the account.
Please note: Some financial aid programs and waivers may not be disbursed until well into the semester, especially for first-time NEO students; please plan accordingly.
Account balances, returns and payments
In some cases, if a refund is issued and subsequently a balance is created in the student’s account, it is the student’s responsibility to return the funds to the College or pay the balance in accordance with the College’s billing and payments policies.
Withdrawal
If a student’s change of enrollment results in a withdrawal from the College, the level of Federal Student Aid (also known as Title IV funds; for example, Direct Loans, Plus Loans, Perkins Loans, and Pell Grants) awarded may need to be recalculated by the school’s financial aid office, along with any aid earned or not earned by the student, and returned to the federal source or refunded to the student, depending on the specifics of the situation. The amount of federal aid that may need to be adjusted and the pro-ration of the tuition, if any, are based on the date of withdrawal.
The Financial Aid Office will be consulted before processing a refund for students who have had a change in enrollment or are withdrawing from the College.
Students dropping a course may also be eligible to receive a refund. NEO will refund the eligible amount to the student’s banking account through Direct Deposit.
Refund of enrollment fees
This institution’s Refund Policy is established by the Oklahoma State Regents for Higher Education. Changes in schedule and complete withdrawals from this institution before or during the Add/Drop period will result in full charges for courses added and full credit (refund) for courses dropped. No refunds will be made after the Add/Drop period of a semester/session except as stipulated by the Federal Government for Title IV Federal Student Financial Aid recipients.
| ADD/DROP PERIOD | |
| 16-Week Semester | First Two (2) Weeks of Class |
| 8-Week Session | First Week of Class |
| 4-Week Session | First Two (2) Days of Class |
Direct deposit information
The Business Office encourages using direct deposit as the most secure and quickest method for receiving bursar account refunds. Direct deposit refunds are scheduled every Tuesday and should be deposited into your bank account within three to five business days, depending on the bank. You are responsible for verifying funds are available in their bank account before spending the funds. You are notified via e-mail when a direct deposit refund occurs. If you do not choose to participate in the direct deposit program, your refund is issued by check. Refund checks are mailed on a bi-weekly schedule to students’ mailing addresses. The Business Office cannot cash these College-generated refund checks nor can they cash personal checks.
Signing up for direct deposit is quick and easy. To add/manage banking information and receive deposits electronically, do the following:
- Log into my.neo.edu with your Goldkey credentials.
- Click on My Online Billing
- You will be re-directed to a new page.
- From here you will be able to setup direct deposit to receive refunds by selecting Refunds tab
- Follow the prompts to complete the two step verification.
- Once completed you will need to return to the home page and go back into Refund tab to set up a new account.
- Select Set up a new account:
- Once you have set up a new account, you will be directed to a new screen. Enter all your account information to start receiving refunds through ACH direct deposit.
- Click continue when complete
- Terms and conditions will come up, verify your depository bank information is accurate.
- If you agree to the terms and conditions, select I agree, and select continue.
- We encourage you to print the agreement.
How to set up Direct Deposit with screenshot visuals
To receive a refund through Direct Deposit
- Log into my.neo.edu with your Goldkey credentials.
- Click on My Online Billing, pictured below:
- You will be re-directed to the below website/page.
- From here you will be able to setup direct deposit to receive refunds by selecting Refunds tab
- If you haven’t done so, you will need to complete two step verification prompts.
- Once completed you will need to return to the home page and go back into Refund tab to set up a new account.
- Select Set up a new account:
- Once you have set up a new account, you will be directed to the below screenshot. Enter all your account information to start receiving refunds through ACH direct deposit.
- Click continue when complete
- Terms and conditions will come up, verify your depository bank information is accurate, below image is an example.
- If you agree to the terms and conditions, select I agree, and select continue.
- We encourage you to print this agreement.
