Direct Deposit and Refunds

• Financial Aid Funds Applied to NDSU Account Balances = Tuesday, June 25th
• Refunds via Direct Deposit and Paper Check Begin = Thursday, June 27th

• Financial Aid Funds Applied to NDSU Account Balances = Tuesday, September 10th
• Refunds via Direct Deposit Begin = Thursday, September 12th
• Refunds via Paper Check Begin = Friday, September 20th

• Financial Aid Funds Applied to NDSU Account Balances = Tuesday, January 28th
• Refunds via Direct Deposit Begin = Thursday, January 30th
• Refunds via Paper Check Begin = Friday, February 7th

• Financial Aid Funds Applied to NDSU Account Balances = Tuesday, June 24th
• Refunds via Direct Deposit and Paper Check Begin = Thursday, June 26th

What is a credit balance?

When the payments or credits applied to an account are greater than the charges or costs on an account a credit balance is generated. Credit balances sometimes result in the issuance of a refund.

What can cause a credit balance?

A credit balance occurs when:

• Disbursed financial aid such as loans, grants or scholarships exceed account charges.
• Payments are made in excess of the account balance.

A credit balance can also occur if there is a decrease in charges on an account that has been paid in full. This can occur when:

• A waiver is applied to an account after charges have been paid.
• A student drops a class or withdraws from a term resulting in a reduction in tuition and fee charges.
  • NDSU Class Drop and Term Withdrawal Information
• A student is eligible for a tuition residency change that results in a lower tuition rate.
  • Residency and Tuition Reciprocity
• A department decreases charges by issuing a credit for an expense. This may include credits for housing charges, meal plan charges, bookstore charges, and parking permit.

When a credit is posted to an account, whether it is a reduction in charges or a payment (including financial aid) NDSU will apply that credit to any eligible outstanding charges first. If all eligible charges are paid then the credit may result in a refund.

Please note: Refund processing may be delayed if further review is necessary to ensure the refund is in compliance with federal and state laws and regulations and state and university policies.

If a student is not fulfilling the requirements to earn financial aid then the Office of Financial Aid and Scholarships may reverse the financial aid. For more information about the return of federal financial aid (Title IV) funds contact One Stop. Students are financially responsible for outstanding balances due to a return of financial aid.

If a credit is still remaining on the account after all charges have been paid and, if necessary, unearned aid has been returned then a refund is issued.

Approximately two weeks after the financial aid is applied to NDSU account balances, Customer Account Services will resume normal credit balance refund processing.

• Refunds resulting from excess aid and/or overpayments with cash or check will be processed multiple times per week.
• Refunds for credits from online check payments are processed weekly.
• Refunds for credits resulting from Direct Plus loans are processed weekly and mailed to the home address listed for the parent.
• Refunds for credits from returned housing deposit payments, paid by cash or check, are processed weekly.

• Please note: Housing deposits paid online are processed daily and are refunded to the original form of payment.

Due to federal regulations, the University may not be allowed to apply federal financial aid to all of the charges owed on a student's account. This may occur for one of two reasons:

1. When the student accepted their financial aid in Campus Connection, they indicated that the funds should not be used to pay miscellaneous charges (e.g. books), or
2. The balance owed is from a prior academic year

When this happens, the student will receive a refund from NDSU, but will also still owe a balance which they will need to pay out of pocket.

The most common cause of overpayment of a student account is excess financial aid (e.g. loans, grants, scholarships). Overpayment may also be the result of cash, check, or credit card payments made by the student or a third-party on behalf of the student. Oftentimes, overpayment is simply the result of a clerical error or miscalculation. If overpayment occurs, the protocols outlined below will be utilized.

• A minimum waiting period of fourteen days must elapse before the refund will be generated.
• Refunds will be issued to the student, not the payor.
• Refunds are distributed via direct deposit or paper check utilizing the student-specific information entered in Campus Connection.
• Fees associated with the initial payment (e.g. credit card fees) will not be refunded.
• Students that wish to retain the overpayment on their student account to be utilized in a future semester may facilitate the request by contacting Customer Account Services or One Stop. Overpayments should be limited to the current academic year; NDSU does not accept overpayment for multiple years of study.

Excessive and intentional overpayments may be rejected at the discretion of NDSU’s Customer Account Services department.