The most convenient and secure way to receive any tuition overpayment refund is via QuikPAY direct deposit. Direct deposit means excess loan proceeds will be deposited directly into the U.S. bank account specified by the student - no more waiting by the mailbox for the funds to arrive! QuikPAY uses the highest industry standard for encryption, so direct deposit is more secure than a check - there’s nothing to be stolen or to get lost in the mail! Typically, a student receives funds via direct deposit a week faster than a paper check.
* 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.
** The direct deposit option is only available to U.S. bank accounts. We are unable to deposit your refund to a non-U.S. bank account.
Page last updated February 18th, 2013.