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Reminder: Important Change to Your Student's Account

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Reminder: Important Change to Your Student's Account

November 9, 2017

Important NoticeWe informed you last month about a change to Cedarville's Prepayment Incentive Credit (PIC) plan, which allowed students to earn interest on balances of $500 or more on their account. A balance is any payment over the invoiced amount.

Due to a recent change to the IRS tax form 1098-T, Cedarville is forced to discontinue the PIC program. As of December 1, 2017, students will not be able to carry a credit balance on their student account. If your student has a balance at that time, it will be refunded to them by December 6. Starting spring semester, any balance on your student’s account will be refunded to them 14 days after the start of the term, and weekly thereafter. Your student will not have access to that balance during those 14 days.

If your student has a balance on his or her account, please ensure that we have banking information on their student account so that we may issue a refund directly to that bank account. Otherwise, a paper check will be issued to your student.

Refer to our Student Finance FAQ document for further information.

Please contact the Cashiers Office at 937-766-7824 if you have additional questions

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