As announced, credit balances are not allowed on student accounts as of December 1, 2017. Credit balances will be refunded 14 days after the start of the term. For more information on how this might affect you, please visit the
FAQThis account enables an accepted or currently enrolled student to earn interest on their student account when there is a credit balance of $500 or more by the first day of the month. The PIC Plan and the student account are one and the same. Interest is credited monthly. Anyone earning $10 or more in interest during the calendar year will be issued a 1099int form.
Pre-payments can be made once the student has been accepted. Interest rates may change on a quarterly basis. The current PIC interest rate is 1% annually. PIC interest will be paid on student account credit balances of $500–$35,000.
A credit occurs when financial aid, sponsorships, and payments are greater than your charges. This can occur when you drop a class after paying for it, receiving financial aid greater than your charges, or making payment on your account when you don't need to.
At any time between now and December 1, you may request your balance using the Request a payment from your account transaction
in CedarInfo. If a credit balance remains after December 1, the remainder will be refunded by December 6. The final PIC interest payment will be credited to your account on November 30.
The IRS has announced changes to the form 1098-T, which is the tax document for tuition payments. The PIC plan is not compatible with these changes.
Unfortunately, due to the new IRS regulations associated with the 1098-T forms, we are no longer able to apply credit balances to the next semester's charges. Once your invoice is produced for spring 2018, you may make payment through selfservice.cedarville.edu by e-check for free.
As of October 28, 2017, student wages may no longer be deposited to your student account since this could create a credit balance. Students will need to add a bank account and
set up direct deposit for their student payroll by following these online instructions.
No, unfortunately, you will no longer be able to prepay. The Cashiers Office is always available to help you with payment options that fit your situation. Please contact us at 937.766.7824.
It could, if you ever have a credit balance in the future, it will be refunded to you initially within 14 days of the start of the term, and weekly thereafter. Make sure you are ready by verifying that you have current banking information on file. If you need help the University has prepared online instructions to assist you.
Each student will need to make banking arrangements to manage their personal expenses. ATMs are available on campus and in the Village of Cedarville for residential students.
You will need to grant your parents access to your account each year. You can grant permission by using Manage privacy permissions in CedarInfo.
When applying funds to a student's account, Cedarville University disburses the ParentPlus loan first, followed by other sources that are likely to be in the student's name. Any credit balance is then refunded directly to the student. In the event that the student's account generates a credit balance from the ParentPlus loan, balances will be refunded to the student directly.
Credit balances will be refunded within 14 days of the start of the term, then weekly thereafter. You will not have access to any credit balances during the initial 14 days of the term.
Please visit selfservice.cedarville.edu and choose the Banking Information tab. From this tab you can verify and, if necessary, change your banking information.
If you don't have banking information, a paper check will be generated and sent to your address of record. Paper checks are only sent to a U.S. address.
Refunds will be issued for those that have credit balances. A credit balance is created when payments are greater than charges. You may review your account using the Student Finance tab in selfservice.cedarville.edu. Once in Self Service, use the pull down menu to choose Account Activity. If your balance, as shown at the bottom of the page, is negative then it is probable that you will receive a refund. You should ensure your banking information is up-to-date.
