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April 30 - To parents of resident students: Room and board credits

Dear Salve Regina families,

We hope you are all staying safe and healthy during these unprecedented times. We applaud and appreciate your efforts to continue your semester at Salve Regina through remote learning. Please know that we miss you all and look forward to your return in September.

The Business Office has had many inquiries regarding partial credits of room and board for the spring 2020 semester and has been working to calculate those for all applicable students. These credits have now been posted to students’ accounts.

Depending on the student’s financial aid and meal plan/housing charges, refunded charges will range from 35-45 percent of the total room/board and meal plan charges. If the application of the room/board and meal plan credit has created a surplus (credit balance) on the student account, we are offering several options for you to receive or apply this surplus. Please note: If you receive this credit and originally paid using a 529 plan, you should consult your tax advisor, as some of this surplus may be taxable.

Surplus options are outlined below. Student accounts can be reviewed by logging on to the portal and clicking "WebAdvisor for Students," which will open the options for "Student Financial Information."

Surplus options:

  • You can keep the surplus on your account to use toward fall 2020 semester charges. This is the default option.
  • If you have not yet made your returning student deposit, the surplus can be applied to this deposit, which is due May 1. This deposit holds each student's place in the courses chosen during the registration period and is applied as the first payment toward the fall 2020 semester. Please email businessoffice@salve.edu to request this option.
  • You can reduce your loan with the surplus by completing the award change form. Specify the type of loan you wish to reduce and the amount you wish to send back to the lender (please note the maximum is the amount of the surplus). The deadline to complete this form is May 8.
  • You can request that the surplus be issued through a mailed check or direct deposit. Refunds can be requested through the e-refund link in the portal under the links menu. If you are requesting the refund to be issued by direct deposit, you must enter your banking information under the "Student Refund Management" link located at the top of the request form. If you have previously entered this information and there have been no changes to your banking information, you will only need to complete the request at the bottom of the page.
  • You can donate the full surplus, or any portion of it, to Salve Regina's Mercy Emergency Relief Fund, which supports individuals within the University community in times of great need. To process your donation, visit salve.edu/student-option-assign-refund-parent.

Please feel free to contact the Business Office at businessoffice@salve.edu, the Office of Financial Aid at financial_aid@salve.edu or the Office of Advancement at advancement@salve.edu with any questions. We thank you for your patience and understanding, and look forward to seeing you all return when it is safe to do so.