Financial Aid Refunds
- If a student receives more financial aid than what is owed to Washburn, the difference will be refunded.
- It is possible for students who have received a refund to still owe a balance to the University. Changes in the student schedule, charges added after a refund was generated, or a balance from a prior aid year that cannot be paid from current funds are all reasons a student may receive a refund but still have a balance and a hold on their account.
- The preferred form of financial aid refund payment is via direct deposit into your bank account. We encourage students to sign up for direct deposit of financial aid refunds via WU-View. Typically direct deposit refunds reach the student account within a business day of processing the refund (not the disbursement of financial aid), but this is not a guarantee.
- Financial aid refunds not paid via direct deposit are issued in the form of a paper check. Students must pick up their own refund checks within 7 to 10 days (Morgan 103-O) and present a valid photo ID. No checks will be released without valid ID.
- For students without a bank account, refund checks can be cashed at any branch of a CoreFirst Bank in Topeka without paying a check cashing fee. Two forms of photo ID are required. Information on CoreFirst branches is available here.
- Upon request, the Business Office will mail student refund checks instead of holding them for pickup. Unclaimed refund checks will be mailed to the current address on file for the student.
- Parent PLUS loan refund checks are mailed directly to the parent. Checks are issued using the address submitted with the Parent PLUS Loan application and any changes to that address must be handled by the Financial Aid Office. At the beginning of each semester, checks are mailed on the same day financial aid refund checks become available for students to pick up. For the rest of the semester the checks are mailed on the date of issue. Students are not allowed to pick up Parent PLUS Loan refund checks for a parent. In addition, the Business Office will not hold Parent Plus Loan refund checks for a parent to pick up.
- Information on initial refund dates for the term is available on the Business Office home page under Important Dates.
- For Fall and Spring terms, refunds are processed twice a week on Monday and Wednesday afternoons. Direct deposit refunds are typically available the next business day but the Business Office cannot guarantee when the refund will reach your bank. Paper checks are available to pick up on Tuesdays and Thursdays (after 10:00 a.m.).
- Refunds will generate according to the published refund dates during the Summer, and will be available on Tuesdays and Thursdays (after 10:00 a.m.) throughout the term.
- The Business Office reserves the right to refund excess financial aid to a credit card used to make a prepayment.
NOTE: Title IV loans (Stafford loans and Perkins loans) will be disbursed in one or two parts, depending on the borrower's student status. In addition, a minimum hour requirement must be met. Information about any pending financial aid requirements can be viewed on the Financial Services tab of MyWashburn or by contacting the Financial Aid Office. For information on borrowing wisely, contact Ichabod Financial Counseling $ervices.