Protections for Student Veterans Act of 2022 This bill authorizes covered individuals who are utilizing Department of Veterans Affairs educational assistance benefits to withdraw or take a leave of absence after they receive orders for active service, inactive-duty training, or state active duty. A covered individual means a member of the Armed Forces (including reserve components) or the spouse of such a member. Institutions of higher education are prohibited from taking adverse actions against such individuals for withdrawing or taking a leave of absence, including assigning a failing grade, reducing the individual's grade point average, characterizing any absence as unexcused, or assessing financial penalties. The bill requires institutions of higher education to refund all tuition and fees (including for housing) for the academic term for which the individual withdraws. In situations where the individual takes a leave of absence, the institution of higher education must assign a grade of incomplete for the applicable term and permit the individual to complete the academic term after the period of service.