Refund of Pre-Admission Deposits for Undergraduate Programs
January 30, 1985
This policy item applies to:
An advance deposit of up to $150, payable upon tentative or conditional acceptance and applicable against charges incurred by the depositor when he/she commences his/her attendance at the State University of New York (University), shall be required from each new student admitted to an undergraduate program at any campus of the University. This deposit is not refundable except as noted below.
Refunds of pre-admission deposits to students meeting the requirements below will be made directly from the local depository. The refund date must be stated in all pre-admission deposit payment requests made prior to the refund date.
1. For students who are admitted into terms which begin between June 1 and November 30, the pre-admission deposit is refundable if requested on or before May 1.
2. For students who are admitted into terms which begin between December 1 and May 31, the pre-admission deposit is refundable if requested on or before November 1.
3. Notwithstanding the refund dates established in Sections A or B above, when a student is notified of acceptance after April 1 (Section A) or October 1 (Section B), the advance deposit is refundable if both of the following conditions are met:
4. Students who have forwarded their deposits based on conditional acceptance by the college but who later have been found not acceptable are eligible for refund of the pre-admission deposit.
5. Students who withdraw to enter military service are eligible for refund of the pre-admission deposit.
6. Any deposits made prior to the completion of registration may be refunded if in the opinion of the campus president conditions beyond the control of the student warrant such refund. Refunds made under such conditions shall be supported in the files by proper documentation.
NOTE: Generally, a student would be considered as having completed his registration when he has satisfied all of the college's requirements including the payment of all required fees or the completion of arrangement to pay these fees.
The University's policy, Pre-Admission Deposits – Undergraduate Program, provides that pre-admission deposits will be deposited in the local depository and forwarded to the State University of New York Income Fund in accordance with the requirements of the NYS Finance Law.
Refunds to students in compliance with the section entitled, “Refunds before Registration” will be made directly from the local depository
The money refunded to the student will be deducted from the total of "The Funds Forwarded" to the State University of New York Income Fund for the period in which the refund was made.
Each such refund must be properly documented for audit purposes.
During the period March 1 - 15, 200 prospective students forwarded $150 each as pre-admission deposits. The money is deposited in the local depository and when it is forwarded to the State University of New York Income Fund (April 1) the AC 1370 is completed with the following entry:
During the period April 16 - 31, 100 more students submit pre-admission deposits but two of those who had paid previously notify the college that their plans have changed and request a refund. Both individuals met the requirements of the University refund policy. The college then prepares its own refund checks, drawing on the local depository, and forwards the balance to the State University of New York Income Fund on May 15. The AC 1370 entry should read:
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