Legal Question in Business Law in Virginia

A well-known online educational institution owes me a $940 financial aid refund. They sent me a check for more than $2k and have asked me to cash the check and pay them the difference. They set my account to show that I owe for a class even though I have paid for all of my courses. I asked them to cancel the check and send one for the correct amount. I was contacted several days later and was told they were not able to cancel the check and send one for a different amount. A newly issued check would have to be for the same amount. My financial adviser with the school pressed me to cash the check again, but I requested a check for the proper amount again. I was told they could do this, but it would take longer. I then received a message telling me that they couldn't cancel the check until I filled out an official cancellation form. The form is a request to cancel my financial aid and I believe if I fill it out, they will no longer have any legal obligation to pay me the $940 they owe me. I refused to fill out the form and finally said I would cash the check and pay them the difference only after my bank assures me the check has cleared. I am concerned about cashing this check. What should I do and what should I be aware of?

Asked on 10/03/11, 5:20 am

Michael Hendrickson Law Office Michael E. Hendrickson

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0 attorneys agreed

Yes, cash the check but only issue the refund after there can be no

doubt that it has cleared all financial institutions that it is required to

clear. (This could be 4-6 weeks or longer).

Answered on 10/03/11, 8:52 am

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