REFUNDS
Receiving a refund does not guarantee that previous quarter charges were paid in full. Please check your account on the Student Portal to ensure that your account is paid current.
Direct Deposit/Electronic Funds Transfer (EFT three times a week)
Direct Deposit/EFT (Electronic Funds Transfer) is the safest and quickest way to receive your Financial Aid or credit balance refund. The Direct Deposit refund is sent directly to your checking or savings account.
Signing up is EASY!!
1. Be sure that you have an active mailing or permanent address on your account. This can be done through the Student Portal. For help go here.
2. Go to your Student Portal and follow these links to sign up:
Accounts and Billing >> Direct Deposit
Click here to view samples of different banks checking formats: Direct Deposit Information.
IMPORTANT: DO NOT USE THE INFORMATION ON THE BOTTOM OF A DEPOSIT SLIP OR AN ATM/DEBIT CARD! You must use the correct 9 digit routing number. If you do not know your bank's routing number go to this link: http://www.routingnumbers.org/. You can always call your bank or login into your online banking for assistance with routing and account number information.
Direct Deposit Schedule
Direct Deposit/EFT (Electronic Funds Transfer)refunds are sent beginning with the first official day of each quarter. Refunds process 3 times a week on Monday, Wednesday, and Friday nights. Verify with your bank when your funds will be available. Banks post electronic payments between 24-48 hours after the disbursement.
IMPORTANT: You will remain signed up for Direct Deposit until you cancel the authorization. Please keep your bank information current to avoid delay in receiving your refund.
Notice to Students who Receive Direct Deposit Refunds
The University of California is obligated to comply with the requirements of the United States Department of Treasury Office of Foreign Assets Control (OFAC), which oversees payments sent outside the territorial jurisdiction of the United States. This includes automated clearing house (ACH) payments, such as direct deposits of payments to students. Effective September 18, 2009, the University is obligated to identify as an "International ACH Transaction" (IAT) any direct deposits that are (1) made by the University to a financial institution located outside the U.S. or (2) made by the University to a domestic financial institution if that financial institution immediately transfers the full deposit amount to a financial institution outside the U.S. in a "back-to-back" transaction.
If you have instructions with your recipient bank to immediately wire the full amount of the direct deposit to a foreign bank, we request that you complete a form that provides further details about the foreign transaction. The form, with instructions on completion and where to return, may be accessed here IAT Form Students.
To comply with OFAC requirements going forward, the University will require that students confirm, at the time that they request direct deposit of their checks to be set up, that the direct deposit is being made to a domestic financial institution and will not be part of a back-to-back transaction to a foreign institution.
Check Refunds
Check refunds are produced beginning with the first official day of each quarter. Checks can take up to 7-10 days to be received. Please consider signing up for Direct Deposit.
These checks stale date after 90 days, which means they are not negotiable at that time and would need to be reissued. If you did not receive your check, you must complete a Stop Payment form. The check is mailed to the Mailing or Permanent address provided by the student on the Student Portal. It is important to keep addresses current and up-to-date. Lost or stolen checks cannot be reissued for 21 days after the date of issuance.
If you have a credit balance on your account from an overpayment of a General Payment made by a check, there is a 21-day waiting period before a refund is generated.
If your refund did not process, please see the information below:
*Undergraduate students must be enrolled in at least 6 units.
*Grad students must be enrolled in at least 5 units.
*You must have an active mailing or permanent address on the Student Portal for your refund to process.
*You must complete your Entrance Interview.
*Your Financial Aid checklist must be completed.
Please contact us for further information at 831-459-2107 or by email at oarinfo@ucsc.edu.