Student Accounts: Credit Balance Refunds

Effective May 1, 2010

• Refunds will be processed twice per week
• Student Refund checks will be automatically processed on Tuesdays and Fridays.  Once the request has been generated it will take approximately 8 days for the refund to be fully processed
• Once the refund is fully processed a student will receive an email to their up.edu email account.  Refunds will be automatically direct deposited to the account the student has designated on the Direct Deposit form
• If a student has not signed up for direct deposit, a check will be mailed to the address that we have in the system.  The address order for fall and spring semesters (except winter break):  BI, MA, LO, CA, PR.  The address order for summer semester and winter break:  BI, MA, PR, LO, CA 
• We encourage students to sign up for direct deposit.  You can obtain a direct deposit form from the controller's office or by clicking here:   Direct Deposit Form . If the credit balance results from Federal Title IV aid such as Direct subsidized or unsubsidized loans, Perkins loans, Pell grants, ACG grants, SMART grants or SEOG’s, and/or from a credit or payment of any kind, a refund will automatically be issued to the student. For instance, a check payment that overpays the student account will be refunded to the student, even if the check was written by the parent
• A refund for out-of-pocket payments (e check, cash, paper check, wire transfers, released deposits) will only be processed if your overall account balance is a credit. University of Portland reserves the right to apply a credit from your out-of-pocket payment to any outstanding charges on your student account, regardless of when the charge(s) is due.  This includes applying your credit to charges for a future or past term
• There is a two-week holding period for credits that result from an overpayment from a check or online payment of any kind
• If the credit balance results from a Parent PLUS loan, a refund check will automatically be issued to the parent who took out the loan unless the parent has submitted written authorization to issue the check to the student. Direct deposit is not currently available for refunds to parents
• If the credit balance is a combination of the two, the refund will be prorated to both student and parent based on the percentage of Parent PLUS loan versus student aid unless the parent has submitted written authorization to issue the refund to the student
• Please see the policy below for refunds for students with a monthly payment plan
• Receipt of a refund does not imply that all charges on the bill have been paid. Students are strongly encouraged to carefully review the charges, payments, and other activity on their account even if a refund has been issued

***Please note: Due to the high volume of requests, there may be a delay in the processing of student refund checks during the first two weeks of each semester.
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