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Student Refunds & Direct Deposit

Eligible credit balance refunds are processed on a weekly basis and will reflect on your student account as a negative balance. A credit balance occurs when excess funds typically from cash, federal and/or state financial aid including grants and scholarships, etc. are applied to the student’s account and exceeds the amount of institutional charges (tuition, fees, room, and board, etc). Credit balances created by institutional grants or scholarships are non-refundable. We reserve the right to review any credit balance created on a student account by an add, drop, or withdrawal from University courses. Students enrolled in eRefunds are notified by email at their official University account when a refund has been processed.

If you are expecting a refund from an overpayment of a financial aid source, the QUICKEST and most EFFICIENT way to receive your funds is through direct deposit. 

  • To sign up for direct deposit (eRefund) log into your myUC portal. Click "My Finances" then choose "Electronic Refunds" from the right menu. To watch our eRefund tutorial video click here.
  • Ensure that all account information is entered correctly. If the direct deposit/ACH refund is rejected for any reason including an invalid account number or incorrectly entered account number, a non-refundable returned check fee of $25.00 will be applied to the student account.
  • You must be owner or co-owner of the bank account and the account must be a US bank account.
  • If the system were to reject your direct deposit information due to any of the above reasons, a check will be printed. Please ensure that your address is correct with the Registrar’s Office to ensure proper delivery.
  • Please note, a rejected direct deposit/ACH refund will result in a $25 returned check fee.
  • Once your direct deposit refund has been processed you will receive an email. It will then take 3-5 business days to post into your bank account. 

If you are not signed up for direct deposit/ACH, your refund will be sent to you by check. Please ensure your address is correct in your UCOne portal or with the Registrar’s Office to ensure proper delivery.

Refunds from a financial aid source begin processing during the third week of classes each term.

  • This does not necessarily mean your financial aid will disburse during the third week of classes. 
  • Be sure to have all necessary paperwork completed with the Financial Aid office as soon as it is requested and by the dates posted. 
  • You will receive an email when your financial aid is disbursed. The Office of Student Accounts then has up to 14 days to issue a refund. We will process all refunds as quickly as possible. 
  • Refunds are processed only after funds are disbursed throughout the semester/bi-term.

Sign your Title IV authorization to ensure that all charges are paid

  • Bookstore charges/ institutional charges cannot be covered by financial aid unless a Title IV authorization is on file. 

If you receive a refund, be sure to check your student account to ensure that all charges were covered. Due to Federal Title IV guidelines, all charges may not have been covered and you may still have a balance due on your student account. 

If you are expecting to receive a refund from a dropped class. 

  • PLEASE CHECK WITH THE FINANCIAL AID OFFICE BEFORE DROPPING A CLASS
    • Financial aid may need to be reduced due to dropping a class, which could result in a balance owed on your student account. Please contact the Financial Aid office to see how a drop will affect your aid before making your decision. 

If a payment is submitted with a credit/debit card to your student account, the credit/debit card will be refunded first before crediting a direct deposit account or printing a check. 

  • Be aware that any credit/debit card transaction on your student account will be credited first when a refund is processed. 
  • If someone else has made a payment on your student account using their credit/debit card their card will be refunded first before refunding a direct deposit account or printing a check. 

If you have been issued a refund but it has not been received

  • Direct deposit refunds will usually be declined during processing if an error is detected. If a direct deposit refund is sent in error, it will be returned to the university. This process can take up to two weeks. If returned, it will be applied back to the student account and the refund will be reissued. If this happens you will receive an email to update your direct deposit information or a check will be printed. 
  • If a check has been mailed and you have not received it:
    • This is likely due to an incorrect address in the system. Please ensure your address is correct with the Registrar’s Office.
    • It will likely be returned to us in the mail. When this happens you will be contacted to provide a current address. 
    • We CANNOT reissue a check until it has been mailed for at least 14 business days. 

If you are receiving a Parent PLUS refund

  • Permissions given by the parent/guardian who secured the PLUS loan will determine whether the parent/guardian or the student will receive the refund. 
  • If the parent/guardian chose to receive the refund, a check will be printed and made payable to them.