Stale Dated Check Policy

This policy is necessary to ensure that Arizona Christian University maintains ethical business practices and remains compliant with local, state, and federal financial aid regulations.

In accordance with the Code of Federal Regulations (34 CFR § 6683164). Arizona Christian University must ensure that federal financial funds are returned to the appropriate federal agency program no later than 240 days after the date the check was issued.

Arizona Christian University processes all credit balances to students or parents via a paper refund check. Every 60 days, Accounting will review any credit balance refund check that has been processed through the ACU banking system.

Should a check not be negotiated in a timely manner (within 180 days). Accounting will notify the Office of Financial Aid. The Office of Financial will evaluate the check(s) to determine if the check was issued due to a credit from Title Iv funding. For those checks considered a Title IV credit. Accounting will void the check and the Office of Financial Aid will return the funds to the appropriate federal student aid program within 240 days of initial check date.