FAQ Regarding Student Account RefundsStudent Account Refund BasicsBudgeting for a RefundProcessing a RefundReceiving a Refund
Student Account Refund Basics
What is a refund?
Refunds are processed when the amount of funds
applied to a student account exceed the total semester charges
. What are the steps involved to receive a refund?
Before a refund can be processed, several things need to happen:
Who is the refund paid to?
- Funding must be secured by the student
- Funding must be received and applied to the student account by SFS
- Refund must be processed and sent by SFS
Refunds can be paid to the:
- Student if part or all of the excess is caused by funds in the student’s name
- Parent PLUS Loan borrower if all or part of the excess is caused by the Parent PLUS loan and the parent did not authorize the refund to be issued to the student
Budgeting for a Refund
I think my financial plan should include a refund. How do I determine how much I will need?
Funds can come from various funding sources
. When the funds obtained exceed the total billed charges it can result in an overpayment on your student account thus creating a refund. You can use the CRCW - Cost Resources Comparison Worksheet
to calculate your direct and indirect costs
to accurately determine the amount of funds you need and how much you may need to plan to receive in a refund. Refunds are intended to pay for educational expenses such as transportation, books and supplies, personal expenses and off-campus housing.I only need my refund for books. Is there another option?
Yes. You can obtain funds to purchase books
through our book charge program
.Why did I get a refund if I still have a balance?
Federal Financial Aid from the current academic year cannot be used to pay an unpaid balance from a prior academic year. You may have been issued a Federal Loan refund for the current academic year but may still owe a past due balance for charges incurred prior to the current semester. Registration for future semesters will be restricted until your account balance is current. Please review your student account on Oasis
to determine if you still have a remaining balance due on your student account.Will a change in enrollment status (i.e. adding or dropping classes) after a refund is processed affect my student account?
Yes, it can. A change in your enrollment status
after a refund is issued will result in a change in your student account charges and financial aid awards. You may owe a balance to the college as the result of additional tuition charges or as a result of a reduction in your financial aid awards. Please always consult with Student Financial Services before you drop or withdraw
from courses to discuss the possible effects to your student account.
Processing a Refund
When will I receive my refund?
Funds secured by the Priority Deadline
are applied to the student account one week before classes begin to ensure refunds are processed by the end of the first week of classes each semester.
Funding secured after the start of the semester will take 20 - 30 business days for the funds to be applied to the student account. After funds are applied to the account it will take 3-5 business days for the refund to be processed.
The amount of time it will take to have the funds in your possession after the refund is processed will depend on whether the refund was processed as a paper check or direct deposit
.Will I receive a notification when my refund is processed?
Yes, SFS will email a refund confirmation to the payee at the time the refund is processed. If the payee is the student the email will be sent to the student’s Loop Mail
. If the payee is the plus loan borrower the email will be sent to email address provided on the plus loan application.How will I receive my refund?
Refund checks can be directly deposited
or mailed to the payee into the payee’s bank account. Refund checks cannot be picked up in person.Will my student account reflect the processing of a refund?
Yes. Refunds on your account that were directly deposited
into your bank account will be displayed in CCCPay
; Check with your bank to match up the amounts and ensure you received them or view student account detail to confirm processing of all refund checks including paper checks. In the event you are positive you did not receive a refund check, contact SFS
Receiving a Refund
What is the fastest way to receive a refund?Direct Deposit
is the fastest way to receive a refund. This option allows the recipient to have the funds available in their chosen bank account within 3 - 5 days of the refund being processed. If the payee is the parent the parent can only sign up for direct deposit if the student gives access to the parent to become a CCCPay Authorized Payer
.What do I do if I did not receive my anticipated direct deposit refund?
First check your personal bank account to ensure the funds were not received. If your funds are not available the direct deposit transaction may have failed due to a closed account or inaccurate account information. If your transaction failed you will be notified via Loop Mail
and your D2U direct deposit
profile will automatically be deactivated. A refund check will be put in the mail to the payee’s address within 3 -5 business days so it is important you verify that your mailing address is always updated. You may add a new D2U direct deposit profile to receive future refunds electronically. What do I need to consider if I do not sign up for direct deposit and prefer to receive a paper check?
Paper check refunds payable to the student are mailed to the student’s mailing address. Parent PLUS Loan refund checks payable to the parent borrower are mailed to the parent’s address provided on the original PLUS Loan application. Once it is mailed delivery time will depend on the U.S. Postal Service. Please allow ten business days to receive a mailed refund. Once you receive your check you will need to deposit the check into a bank account or present it for cash. Banks have individual requirements and timeframes for this process.What do I do if did not receive my paper check refund?
If you do not receive your paper refund check within 10 business days of the refund email notification, contact
Student Financial Services at 866-705-0200. If the check was mailed to an incorrect address, you will be required to either update the address or enroll in D2U direct deposit
before the refund is reissued. Students can update their address through the Oasis Portal. Parents will need to provide signed notification requesting a change of address.Does a paper refund expire?
Paper check refunds are voided after 90 days. It your refund has expired please contact our office to find out if it can be reissued. Refunds not cashed within a certain amount of time may be turned over to the state as unclaimed property or returned to the federal direct lender if the funds derived from a federal loan.Returned Refunds by the US Postal Service
Refunds may be returned to SFS by the US Postal Service if the mailing address is incorrect or if you are no longer residing at this address. You will be notified by email if this occurs. Please make sure if you prefer your refund be mailed you have the correct mailing address on file.