Refunds
Students are eligible for refunds when their are excess funds listed on their student account. In workday, these are called "unapplied payments." When payments or financial aid disburse onto the student account, workday moves those funds to "applied payments" to satisfy the students' tuition and fees.
Refunds are issued to students for the amount of the excess credit balance. At the start of the semester, the initial refunds for credit balances are processed within 14 days after the financial aid is posted to the student's Account Summary. The University does not begin disbursing financial aid until after the 14th class day (Census day).
If your financial aid is still listed as "anticipated aid" that means that the aid has not disbursed to your account and are not currently able to be refunded. If it is after the 14th class day and your funds have still not disbursed, please check to make sure you have completed all your Financial Aid Action Items. You should also log in to your studentaid.gov account to make sure there are no tasks waiting for you there.
Setting up Direct Deposit:
The fastest and most reliable way to receive your refund is through Direct Deposit. Here are the steps to set up your Direct Deposit:
- Login to workday.
- Click "Student" and "Finances" from the left sidebar menu.
- Look for "My Account" and click "More" then "Set Up Payment Elections"
- Add your bank account information and change the Student Refund method to Direct Deposit
Students are informed via Workday regarding their refunds and are encouraged to set payment elections in Workday. Please review your payment elections
Students can check their refund status in Workday.
Important terms:
- Unapplied Payments: You have excess credit that may be eligible for a refund.
- Pending Refund: The Bursar's office has begun the refund process for the week and your refund will be processed in the next batch
- Settled Refund: Your refund has been issued and sent to the bank for processing. If you have Direct Deposit set up you can expect the funds to hit your bank account within 3-5 business days. If your refund method is currently set to Check, you can expect it to arrive in the mail within 7-10 business days..
You can check where you are in the refund is in the process by looking at your semester statement.