I had a similar experience with StudentUniverse a while back, and navigating the cancellation process can indeed be a bit tricky. Generally, the cancellation policy you encounter will depend heavily on the airline you've booked with, as StudentUniverse essentially acts as a travel agent. In my case, the process wasn't super straightforward, but here's what I learned:
Firstly, most airlines will have a non-refundable clause, especially for the cheaper student fares, but some allow for changes or offer credit for future travel, sometimes with a penalty fee. I remember paying a change fee along with the fare difference to reschedule my flight. The change or cancellation fees can vary significantly by airline, so I'd recommend checking the specific airline's policy detailed in your booking confirmation.
As for StudentUniverse, they might charge an additional fee on top of the airline's fee, so it's crucial to contact their customer service ASAP. I found their team quite helpful, albeit sometimes the waiting times can be long during peak periods.
On the refund aspect, if your ticket is refundable, you could potentially recover a portion of the cost minus any fees. However, if it's non-refundable, be prepared to receive only an airline credit or none at all, depending on the terms and conditions.
If changing the flight seems like a better option, make sure you're aware of all associated costs. Sometimes, purchasing travel insurance that covers cancellation could be a lifesaver for situations like this, although it's more of a proactive measure for future travels.
Lastly, I'd suggest acting quickly since options might become more limited as your flight date approaches. Even if the airline allows for cancellations, policies can change, and certain promotions or restrictions might apply.
Hope this helps and good luck with sorting everything out!