Virtual Advisor
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Refunds

Refunds

When the amount of your financial aid or loans exceeds the amount billed by LMU, there will be a credit balance on the student account. Some students are eligible for a financial aid refund of their credit balance.

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Disbursement

Financial aid is typically disbursed for undergraduate students four weeks after classes start each semester. LMU graduate and professional programs have unique disbursement dates based on individual academic calendars. When a student’s financial aid exceeds their charges, the student may be eligible for a refund. Students can check to see if they have an account credit or balance by logging into their MyLMU account and going to the "Self-Service Menu," selecting "WebAdvisor for Students," and then "View Account and Make Payments." A negative sign before the amount due indicates a credit on the account. Not all credit balances are refundable. All institutional scholarships must be applied toward tuition, fees, and on-campus housing and food expenses. All federal, state, and institutional grants are credited to the student's account first, and any scholarships are applied to the balance of the student's aid eligibility for the semester.

Refund Methods

It is recommended that students set up direct deposit for refunds. To set up direct deposit:

  1. Go to MyLMU
  2. Go to the Self-Service Menu
  3. Select WebAdvisor for Students
  4. Select Banking Information
  5. Select Add an Account

Once an account is added, verification can take up to two weeks. If a direct deposit is not set up or account verification is not complete, a paper check will be mailed to the student’s address on file. Students must ensure their mailing address is current. Students can check and/or update their mailing address through the "My Profile" option under "WebAdvisor for Students" in MyLMU or by contacting the Office of the Registrar.

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Billing & Payments
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Payment Plans
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Form 1098-T
Important Dates
  • December 31, 2023: The 2024-2025 FAFSA is available to complete on the Federal Student Aid website.
  • August 1, 2024: Deadline to complete the 2024-2025 FAFSA for TN Promise.
  • April 15, 2024: Deadline to complete the 2024-2025 FAFSA for Tennessee Student Assistance Award (TSAA).
  • January 31, 2024: Deadline for the Annual & Endowed Scholarship Application.
  • December 2023: Due to FAFSA Simplification, the release of the 2024-2025 FAFSA has been delayed. The FAFSA form will be available by December 31, 2023.
  • November 15, 2023: The Annual & Endowed Scholarship Application opens.
Contact Us

Student Financial Services
Location: DAR-Whitford Hall
Phone: 423.869.6336
Fax: 423.869.6347
Email: finaid@LMUnet.edu

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