Regent University

Bookstore Credit

Students who have completed the financial aid process and are awaiting the arrival of their aid may be eligible to use a portion of their anticipated aid to purchase textbooks at the Regent University Bookstore prior to the start of the term. To be eligible for this bookstore credit, a student must have financial aid funds scheduled for disbursement greater than their current tuition and fees for the semester. Please note, this is not a program that students choose to "charge it to my student account". Instead, the program is designed to give students a credit at the bookstore up to a preset amount, not to exceed the estimated refund of a student. If a student chooses not to purchase his/her books with this credit, no action is necessary on his/her part and the full amount of the normal refund will be processed.

The Basics

  • Maximum Amount Available: up to $1,000 per semester; $1,500 for Law (fall semester only; $1,000 for spring and summer)
  • Must have an anticipated financial aid refund.
  • Financial aid refunds are processed the Thursday after the conclusion of the 100% Add/Drop period and will continue throughout the semester on Tuesdays and Thursdays thereafter. Because of this, undergraduates starting in Sessions B, D, or F will be able to purchase books for the session once their refund has been processed.

The Details

Students who have completed the financial aid process have the ability to use a portion of their financial aid money to make textbook purchases at the Regent University Bookstore. To be eligible for this bookstore credit, a student must have financial aid funds scheduled for disbursement greater than their semester tuition and fees charges.

Students must have:

  • Registered on at least a least half-time level.
    • Undergrad, six hours
    • Grad/Law, five hours (Summer semester - three hours)
    • Doctorate, three hours (one hour in Dissertation/Psy.D. internship phase)
  • Completed an "Authorization of Title IV Aid Form" allowing for more than tuition/fees to be paid using federal financial aid.
  • Completed entrance counseling (if receiving loans).
  • If receiving loans, applications must be processed to the point of approval/guarantee and awaiting disbursement to Regent (promissory note complete, etc.).
  • Have anticipated financial aid exceeding Regent charges.

Below is an example of how the bookstore credit amount is determined. The financial aid office conducts a review of the aforementioned requirements. Any approved refund, not to exceed $1,000 ($1,500 for law students in the fall only), will be available as a bookstore credit.

Example 1:

Student Tuition and Fees: $6,169.00   (12 credits @ $495/credit + semester fees)
Approved Financial Aid: $7,602.75   
Available Bookstore Credit: $1000.00  

 

Example 2:

Student Tuition and Fees: $6,169.00   (12 credits @ $495/credit + semester fees)
Approved Financial Aid: $6,400.00  
Available Bookstore Credit: $231.00  

 

If the student is eligible for the bookstore credit, he/she will receive an e-mail notification from the Central Financial Aid Office indicating the amount of the credit and the dates the student is able to utilize this option. Students may then purchase their books both in person or online. Detailed instructions will be provided in the notification.

This bookstore credit is only available for a limited time period prior to the start of each semester. Typically this time period runs from the date tuition charges are placed on a student's account to the day before refunds are processed. Purchases with the bookstore credit become "charges" on student accounts. After the credit period has closed, the student's refund will be processed as normal. (See the examples below.) A student is not required to take advantage of this bookstore credit. If a student chooses not to purchase his/her books with this credit, no action is necessary on his/her part and the full amount of the normal refund will be processed.

Example 1 (Student Using Bookstore Credit)

 

Initial Refund Scheduled: $1,897.75
Available Bookstore Credit: $1000.00
Bookstore Purchases: $342.59
Actual Refund Processed: $1,555.16

 

Example 2 (Student Not Using Bookstore Credit)

 

Initial Refund Scheduled: $1,897.75
Available Bookstore Credit: $750.00
Bookstore Purchases: $0.00
Actual Refund Processed: $1,897.75

 

NOTE: If the student does not enroll in the upcoming semester, or otherwise becomes ineligible for all or part of their financial aid package, the student will be responsible for repaying the amount of anticipated aid used to purchase text books as outlined in the financial agreement governing student accounts. Refer to the bookstore's textbook return policy link opens in a new window to determine if your account can be credited for the return of your textbooks.

Updated: 08-APR-2013

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Central Financial Aid
1000 Regent University Drive, SC 241
Virginia Beach, VA 23464

Phone: 757.352.4125

Inquiries: finaid@regent.edu

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FAFSA School Code: 030913

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