|Category Name:||Business and Financial|
|Responsible Unit:||Office of Student Accounts and Accounting Services|
|Responsible VP:||VP for Administration and Finance|
|Adoption Date:||August 2011|
|Last Revision Date:|
|Last Review Date:|
|Shared governance: none|
Information regarding refunding student account overpayment(s) and the direct deposit option.
There are no definitions for this policy at this time.
Student account (overpayment) credit balances cannot be "carried" from semester to semester. All outstanding credit balances will be returned to a student in the form of a refund check.* With the exception of Parent/PLUS loans*, any credit balance will be refunded to the student regardless of who remitted the payment to the student account (e.g. parent, grandparent).
Students are encouraged to select the "direct deposit option wherein tuition overpayment refunds will be deposited directly into the student's personal bank account allowing them to access funds in the most efficient manner (note: student must be listed as the owner or co-owner of the bank account).
*If a Parent PLUS Loan overpays a student's account, the refund check will be issued in the PLUS Loan borrower's name unless the borrower requests otherwise. Parents who borrow PLUS loans are not eligible to participate in the direct deposit refunding option. Any overpayment will be returned to a parent in the form of a check.
To enroll in refund direct deposit:Students should log into Web Banner, select the "Student Services" tab, then the "Student Accounts" option, and click on "Refunds". From there, simply follow the instructions to securely enter your bank account and other relevant information, review the completed form for accuracy and click on the "Confirm" button.
IMPORTANT NOTE: QuikPAY direct deposit only affects tuition overpayment refunds generated from your Brockport student account. It does not affect any existing payroll information relevant to College or other state agency employment.
Links to Related Procedures and Information
There is no contact information for this policy at this time.
History (in descending order)
|Next Review Date||August 2014||Three year review|
|Adoption Date||August 2011||Policy Adopted|