Credit Balance & Direct Deposit
A credit balance in your student account is created when you have excess financial aid remaining after all eligible charges (tuition, fees, University contracted housing and meal plans) on your account are paid in full. This occurs when your financial aid amounts exceed the total amount of tuition, fees and housing billed to your student account. Financial aid cannot be applied to miscellaneous charges like bookstore purchases, housing damage or discipline charges unless you give permission on the Financial Aid Withholding Authorization section of the electronic Financial Aid Award Notice (eFAAN). This means you may receive a Financial Aid surplus and still have unpaid charges on your student account. You are still responsible for these charges.
Note: If you cancel or withdraw from classes, your financial aid may be adjusted and you may owe some or all of your credit balance back to the University.
Direct deposit required
To receive your credit balance refund checks more quickly, sign up for direct deposit to your bank checking or savings account. You can learn more about direct deposit and sign up for direct deposit on the web at Direct Deposit.
Once your authorization has been processed, all credit balance funds will be automatically transferred into your designated checking or savings account within 3 business days of processing. Be sure to confirm with your bank that your funds are available in your checking account before you begin to write checks, pay bills or withdraw money.
Both you and the university benefit, when using direct deposit. For you, no more waiting for the check in the mail. You will have quick access to your credit balance funds without having to worry about lost mail. The University benefits by easier processing, reduced costs, and greater security.