FINANCE
30.98
New 2-05
University Receivables
335-9651
PDF link
REFUND OF EXCESS FINANCIAL AID
When University Receivables receives financial aid money for a student, the funds are used to pay off current term items, e.g., allowable outstanding tuition, fees, and University-contracted housing. Washington State University is limited by federal rules regarding what charges the University may automatically pay with financial aid.
Any residual funds are given to the student. The student may pick up the refund check in the Office of University Receivables, in French Administration 342, or may apply to have the funds deposited directly to his or her checking account in any U.S. bank or credit union.
University Receivables disburses refunds of excess financial aid on the first class day of the semester.
Requesting Direct Deposit of Refund
To authorize University Receivables to directly deposit a financial aid refund to a checking account, the student must complete an Authorization for Direct Deposit of Excess Financial Aid Funds form.
Complete and/or print the PDF master on 30.98.3 to obtain copies of the form.
The student must submit the completed direct deposit authorization form and a preprinted, voided check which includes his or her name and address to University Receivables. University Receivables does not accept checks without the student's preprinted name and address.
Process
After the direct deposit process is in place, excess financial aid funds and/or any other type of refunds are credited to the student's bank account. Generally, funds are available within three business days after the entry for excess funds appears in the online WSU student account information. Students should verify bank balances before writing checks.
The student may view the status of his or her student account from the WSU InfoNet eInfoCenter website. To access the website, go to:
http://www.wsu.edu/current-students/
Select eInfoCenter, then
Select Account Info.Direct deposit continues until the student gives University Receivables written notice to change the account, to discontinue the direct deposit, or to make other changes in the service. The student may use the authorization form on 30.98.3 to submit changes or cancellation requests.
See the PDF master form:
30.98.3: Authorization for Direct
Deposit of Excess Financial Aid Funds
Complete and/or print as needed