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I booked 4 flights a few weeks ago to surprise my parents with a trip to Vegas. My dad was just laid off from work and this trip is just not financially feasible. I reached out to Southwest and they are saying I can only get a refund with travel funds which doesn’t help me at all because I don’t need a $1200 travel credit. My parents aren’t going to be able to go on a trip for a while. Is this seriously my only option? I would like to just give that money to my parents to help them with bills.
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Assuming you purchased Wanna Get Away fare tickets then yes, getting the money refunded as travel funds is your only option. You have up to one year from the original purchase date to complete travel using the funds and only the originally ticketed passengers can use the funds.
I know it's not much help for you, but the ability to cancel and have funds for later use offered by Southwest is much more generous than most other airlines who would either charge a large fee to make any changes or not allow any sort of refund.
If you purchased a different fare type, even a senior fare, then you have better refundability so double check that.