St. Thomas refunds credit balances in student accounts exclusively through electronic funds transfers (eRefunds) using the Touchnet eBilling and ePayment system. The benefits of eRefunds include:
- Secure - no lost, delayed, or stolen refund checks in the mail
- Confidential - no need to share your bank account data with others
- Convenient - no need to go to the bank to deposit refund checks or contact the Business Office to update your account information if needed
Students are expected set-up an eRefund profile promptly after enrolling at St. Thomas. Refunds cannot be processed unless the student has set up an eRefund profile, which includes bank account data that allows St. Thomas to process the refund.
See setting up eRefund for step-by-step instructions.
Students have access to input, delete, and update their eRefund profile as needed, online, anytime, anywhere.
Refunds are granted in accordance with the Student Payment Agreement and Disclosure Statement, the Tuition Refund Policies and the applicable Tuition Refund Schedules. Refunds begin to be processed at different times depending on whether you are an undergraduate or graduate student, as set forth below.
The first refund disbursement for undergraduate students will be processed approximately 10 days after the add/drop period at the beginning of the semester. Throughout the year, direct deposits are processed at least twice a week.
|Fall Term 2022 eRefunds begin:||Date|
||September 1, 2022|
||September 13, 2022|
||September 27, 2022|
For more information regarding refunds, please visit Refund Policies and Schedule.
Fall Term 2022 eRefunds dates begin:
Law students: September 1, 2022
Graduate students: September 13, 2022
Undergraduate students: September 27, 2022
Yes, refunds will only be distributed electronically; no paper checks will be processed. An exception to this is if the credit is the result of a Parent Plus loan, then the refund will be sent by paper check to the parent.
eRefunding is safe, simple, and convenient. No need to wait in line at the bank. No worries about mail delays or lost checks. Your money gets in your bank account faster.
You will need to update your eRefund profile in the eBill/ePay system immediately. If funds are sent to a closed account, the University must wait for the funds to be returned before issuing a new eRefund to you.
Effective January 20, 2022, all newly set-up ePayment and eRefund profiles will be subject to the ACH Pre-note verification process. This initial pre-note process can take up to seven days to complete, so we recommend saving an eRefund profile well in advance if you think you will be receiving an eRefund to avoid delays.
eRefunds will be deposited into any valid United States checking or savings account as designated by you, the student.
Yes, you will receive an email when the eRefund has been initiated, but please allow three to four business days for the funds to be deposited into your bank account. Be sure to verify with your bank that the funds are available before using them.
Generally, though there are exceptions, students receive a refund when a credit balance is created on their student account. The typical reason(s) for the credit may be due to one or more of the the following:
- Financial aid in excess of student account charges
- Reversal of charges - due to dropped courses
- Reversal of charges - due to appeal or other
- Deposit payments applied to student account
No. Only students can select an account for the eRefund profile; Authorized Users do not have access to this option.
There are several reasons why the University is excited about going exclusively to eRefunding:
- Convenient - students can avoid lines at the bank and update their eRefund profile 24/7/365 as needed.
- Security - students enter their own banking information into the system so there is no need to share account information with another person. Also, no lost or stolen checks in the mail.
- Quick - students get their refunds much quicker when eRefunded.
- Efficient - the eBill/ePay system allows for the student to update their own bank account information as needed, eliminating the need for paper authorization forms and manual data entry by office personnel.
- Cost effective - eRefunds reduce the costs associated with paper checks for both the University and the student (i.e. - check stock, postage, envelopes, transportation to bank, time, stop payment fees, etc..)
- Environmentally friendly - eRefunds reduce paper consumption by eliminating the need for authorization forms, check stock, envelopes, deposit slips, etc...