Menu Menu

Student Account Refunds

GENERAL
INFO
REFUNDS

Refund Processing Schedule
  • Checks: Thursdays
  • Direct Deposit: Tuesdays and Thursdays

Students who elect to receive their refund by direct deposit will generally receive their refund 3 to 5 business days from the date the refund shows as processed on the student account . Students who elect to receive their refund by check will generally receive their refund 1 to 3 weeks from the date the refund shows as processed on the student account. Refund checks are mailed to the current address on file.

Direct Deposit:

To elect to have your refund direct deposited, please visit the Direct Deposit web page.

Financial Aid Refunds

When the amount of financial aid paid to a student account exceeds tuition and University Housing room and board, a refund will be issued to the student within 14 days of the disbursement of aid. If a student has educationally related expenses assessed to their student account (such as Graham Health Center charges, lost student ID charges, Counseling Center charges, etc.), the student is responsible for paying these charges. Financial aid cannot be used to cover these charges.

Overpayments, Dropped Courses, Etc. Refunds

Credit balances resulting from overpayments, dropped course, etc. will be processed after the 100% Tuition Refund date.

  • Credit Card Refunds:

    If a payment is made on a student account by credit card, the refund will be issued to the original credit card.  Students must keep in mind that it can take the credit card company up to 3 weeks to complete their part of the refund process.
  • Debit Card Refunds:

    If a payment is made on a student account by debit card, the refund will be issued by check or direct deposit. If the student wishes to have the refund issued to the card, the original debit card used for the payment must be brought to the Cashier’s Office, 120 North Foundation Hall.

Escheats/unclaimed property (un-cashed checks)

Per State of Michigan regulations, all un-cashed payroll and refund checks (except for Title IV financial aid funds) are to be escheated (sent) to the State of Michigan. Oakland University escheats these checks when they become one year old.

Federal Regulations stipulate that if a refund check that resulted from the application of Title IV financial aid funds is due to escheat to the State of Michigan, the university must instead return the Title IV funds to the appropriate aid program. Oakland University returns un-cashed federal financial aid refunds on a monthly basis.

Please cash your refund check in a timely manner to avoid having to contact the State of Michigan or Oakland University to retrieve funds that were escheated and/or to avoid losing financial aid funds that you were eligible for at the time of disbursement.

For more information regarding specific policies, see Financial Aid Policies & Conditions and the Tuition & Refund Policy



Edit tab Direct link
Summer Semester 2014
Overview
  • Refunds resulting from third-party or credit card payments will not be processed until after the 100% tuition refund date for full semester courses..
  • If your financial aid does not cover your charges, and you are unable to pay your balance in full by the May due date, you may enroll in a payment plan by the May due date.
  • You will receive a financial aid refund as long as your financial aid has paid to your eBill and exceeds the amount of your charges.
  • Parent PLUS refunds made to parents are only available in the form of a paper check mailed to the parent.     

Refunds are typically received within:

  • 3-5 business days from the date the refund shows it is processed on the eBill if you are enrolled in direct deposit.
  • 1-3 weeks from the date the refund shows it is processed on the eBill if you receive a check through the postal mail.

Fall Semester 2014
Overview
  • Refunds resulting from third-party or credit card payments will not be processed until after September 16, 2014.
  • If your financial aid does not cover your charges, and you are unable to pay your balance in full by September 24, 2014, you may enroll in a payment plan by September 24, 2014.
  • Parent PLUS refunds made to parents are only available in the form of a paper check mailed to the parent.   

Refunds are typically received within:

  • 3-5 business days from the date the refund shows it is processed on the eBill if you are enrolled in direct deposit.
  • 1-3 weeks from the date the refund shows it is processed on the eBill if you receive a check through the postal mail.

Full semester classes (September 3 - December 13)

You will receive a financial aid refund as long as:

  • Your financial aid has paid to your eBill and exceeds the amount of your charges. 
  • All your classes run the full semester 

Second Half semester classes (October 20 - December 13)
You will receive a financial aid refund as long as:

  • Your enrollment includes classes that start in the second half of the semester (October 20 - December 13) and your aid pays to your eBill on or after October 20, 2014.
  • Your financial aid has paid to your eBill and exceeds the amount of your charges. 

Winter Semester 2015
  • Refunds resulting from third-party or credit card payments will not be processed until after January 20, 2015.
  • If your financial aid does not cover your charges, and you are unable to pay your balance in full by  January 27, 2015, you may enroll in a payment plan by January 27, 2015.
  • Parent PLUS refunds made to parents are only available in the form of a paper check mailed to the parent.  

Refunds are typically received within:

  • 3-5 business days from the date the refund shows it is processed on the eBill if you are enrolled in direct deposit.
  • 1-3 weeks from the date the refund shows it is processed on the eBill if you receive a check through the postal mail.

Full semester classes (January 6 - April 28)


You will receive a financial aid refund as long as:

  • Your financial aid has paid to your eBill and exceeds the amount of your charges. 
  • All your classes run the full semester 

Second Half semester classes (March 2 - April 28)
You will receive a financial aid refund as long as: 

  • Your enrollment includes classes that start in the second half of the semester (March 2 - April 28) and your aid pays to your eBill on or after March 2, 2015.
  • Your financial aid has paid to your eBill and exceeds the amount of your charges.  


Edit tab Direct link