Credit Balance Checks And The Direct Deposit Option
Credit balance check disbursement
A credit balance in your student account is created when you have excess financial aid remaining after all eligible charges on your account are paid in full. For example, when your financial aid amounts exceed the total amount of tuition and fees billed to your student account. In this case, a credit balance check would be produced in the amount of the excess funds and mailed to the current mailing address listed on your University record.
If you drop 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.
If you request a stop payment on a credit balance check mailed to you that was not delivered and/or returned to the Office of Student Finance because you failed to provide a correct address, you will be charged a $10 fee. That charge will be waived if you sign up for direct deposit at the time of your stop payment request.
Direct deposit option
To get your credit balance quickly, sign up for direct deposit to your bank checking or savings account by using Direct Deposit Online. Once your authorization form has been processed, all credit balance funds will be automatically transferred into your designated checking or savings account within two to three business days. 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 or lining up at the One Stop Student Services Center window. You'll have quick access to your credit balance funds, without having to worry about lost mail. The University gains from easier processing, reduced costs, and greater security.