Written by Zeryn Macklin.
This month’s Finance Division Knowledge Base spotlight is on When are refunds processed?
In this month’s Knowledge Base article, we’re diving into the details of how the University Cashier’s Office handles student refunds. Understanding this process is essential to ensure students receive timely refunds and inquiries are addressed efficiently.
Refund Process Overview:
- Monitoring Student Accounts: We have regular automated processes to identify credit balances that are eligible to be refunded. Refunds can result from overpayments, financial aid disbursements exceeding charges or adjustments to student accounts.
- Financial Aid Refunds: Refunds for excess financial aid are processed on Mondays, Wednesdays and Fridays. If a student is not enrolled in direct deposit, they will be issued a refund check. Refund checks are only processed on Wednesdays.
- Refund Requests for Overpayments: If a credit balance is created by an overpayment not related to financial aid, the student may request a refund after the Census Date for the semester. Students can request a refund of their credit balance using our online refund request form. If no refund request is filed, the overpayment will be automatically refunded during our monthly refund process. Students must be enrolled in direct deposit for these refunds.
- Direct Deposit vs. Check: To expedite refunds, we encourage students to enroll in direct deposit. Refunds issued via direct deposit typically appear in students’ bank accounts within three to five business days. If students are not enrolled in direct deposit, refunds are issued by check, which can take two to three weeks, depending on the US Mail. We remind students to verify their home mailing address in MyPack portal to avoid delays.
For any questions, please contact the University Cashier’s Office at studentaccounts@ncsu.edu.