Credit balance and refunds
A credit balance results when the total of the credits posted to a student's account exceed the total of the charges applied to that account for a specific term or semester.
You may apply to have your financial account credited due to timely:
- changes to your enrolment load
- withdrawal from your program, or
- an approved leave of absence.
This re-credit may reduce or cancel out the original charge or result in a credit balance, which can be used toward any future fees.
The refund guidelines for RMIT University observe the principles outlined in the Code of Ethical Practice published by the Australian Vice Chancellors' Committee (AVCC) and the Education Services for Overseas Students (ESOS) Act 2000. These guidelines apply equally to all new and re-enrolling students unless otherwise stated.
You are only eligible for a refund on a credit balance if the credit amount is the result of payment after all fees and charges have been applied.
All refund requests are also conditional on the following:
- the funds for the refund must be available (bank drafts cleared, telegraphic transfers received, etc.) and
- any debts to RMIT University must be paid in full or the outstanding amounts will be deducted from the refund.
International students - telegraphic transfer
An authorised refund will be processed, where possible, using the same method as your original payment; e.g. if the payment was made by credit card, the refund will be processed to the same credit card. Where payment has been made by credit card RMIT reserves the right to request proof of payment.
We can transfer your refund into an overseas account which may take up to 6 weeks to reach your bank.
Any refund will normally be made in the currency of the country of permanent residence and payable in that country. Exceptions can include non-tradeable currencies, where the refund could then be paid in US dollars. RMIT University is not liable for any variance from foreign exchange rates fluctuations.
Apply for a refund
Credit balances within your individual account will not be remitted automatically.
An authorised refund will be processed, where possible, using the same method as an original payment. For example: if the payment was made by credit card the refund will be processed to the same credit card.
Where payment has been made by credit card RMIT reserves the right to request proof of payment.