What governs the timing and eligibility for refunds after withdrawal?

Refunds are issued immediately regardless of timing.

Refunds are never issued after withdrawal.

Refunds are issued according to policy and timing, typically to the original payment method.

The timing and eligibility for refunds are governed by the institution’s refund policy. That policy lays out when withdrawals qualify for a refund, how any fees or prorations are handled, and the deadlines that affect the amount you receive. Because of this, refunds are issued according to that policy and the timing of your withdrawal, and they’re typically returned to the original payment method after processing. It’s common for refunds to be larger if you withdraw earlier in the term and smaller or possibly unavailable if you withdraw later, with certain fees sometimes applying. Always check the exact policy for specifics, including if refunds can go to credits for future terms or must go back to the original payment method.

Refunds are issued as credit to future terms.

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