Overpayments or excess financial aid are not kept on the student's account unless
permission is received from the student. Credit balances are refunded automatically and/or by
request.
Refunds from overpayments or excess financial aid are available approximately
10 days after the add/drop date at the start of each term. Throughout the
year, direct deposits will occur daily and refund checks will be generated
and mailed on Friday afternoons.
Refund checks are mailed to the billing address unless a request is made to
have the check sent to an alternate address.
Students now have the option of signing
up for Direct Deposit of credit balances. Refunds can be sent
directly to your personal checking account with your authorization.
What are the benefits to using Direct
Deposit vs. requesting a refund check?
- There is no risk of your check being
lost or stolen in the mail
- You don't have to go to the bank to
cash or deposit it
- Funds for direct deposit participants
will be available within 48 hours of disbursement (except at the
beginning of each term)
Click
here for information regarding this Direct Deposit option.
According to federal regulations the University of St. Thomas is required to have a
signed authorization form from all students in order to use Title IV federal financial aid
funds to pay charges other than tuition, fees, room and board.
Click here for the authorization form.
