What is a financial aid refund?
A refund is generated when your financial aid and other payments are greater than your college charges. This overpayment is called a refund. The Student Accounts Office will notify you via email when you can pick up your refund (paper check) or they will deposit your refund into your checking account (if you signed up for direct deposit).
Where did the refund come from and what can I use it to pay?
Most often, a refund is generated from your federal student loans and/or grants. Federal student aid must be used for educationally related expenses, like books, housing, meals/food, basic personal items, and travel to/from campus.
When can I expect to receive my refund?
If you do not have any outstanding requirements such as verification, missing documents (Entrance Counseling, Master Promissory Notes, etc.) you should receive some of your refund between the first and second week of classes.
Please realize that all of your financial aid does not arrive on campus at the same time.
Does everyone receive a refund?
No, your financial aid and other payments must be greater than your college charges in order to receive a refund.
Why didn’t I receive a refund?
There are potentially many answers to this question. Start by asking yourself the following questions:
Is my financial aid more than my charges?
Did I accept my financial aid via KnightWeb?
Did I complete all necessary steps to receive the money (Master Promissory Notes and Entrance Counseling, verification or other documents)?
Did I accept my charges through Student Accounts?
I received a large financial aid refund; can I reduce or cancel my loans?
If you have picked up your refund check, bring it back to Student Accounts. They will notify the Office of Financial Aid to return the funds to the lender.
If you have not picked up the check or the refund was direct deposited into your bank account, contact Student Accounts. You will need to inform them how much you wish to return.