Refunds
When there is a credit balance on the student account, we automatically refund it to the student, unless the credit balance is the result of a Parent Loan for Undergraduate Students (PLUS) applying to the student account.
Students may have a credit balance on their account for several reasons:
- The sum of the student’s financial aid is greater than the sum of the charges on the student account; or
- The student drops a course that had a course fee (lab fees, physical education fee, etc); or
- The student adds or changes meal plans or room assignments; or
- The student’s charges are reduced because the student is enrolled part-time, has paid the account balance in full, then drops a course or two; or
- The student’s charges are reduced because they are enrolled full-time, has paid the account balance in full, then drop a course or two and is now enrolled part-time; or
- A variety of other scenarios may result in a credit balance on the student account. .
So we can refund money without delay should the need arise all students must have a Direct Deposit Account in PittPAY:
Log into www.my.pitt.edu > Student Services > PittPAY > Direct Deposit, and follow the instructions.
All refunds are sent to the student except refunds resulting from a Parent Loan for Undergraduate Students (PLUS). When a PLUS is posted to a student’s account and it creates a credit balance, the parent borrower is sent the refund. Therefore, parents should also have their own Direct Deposit account in PittPAY. First your student needs to log into PittPAY and make you an Authorized Payer. Then you log into PittPAY and establish your own Direct Deposit account: http://student-info.pitt.edu . Use the login name and password your student assigned you to log into PittPAY.
- Amounts received in excess of the student’s charges will be refunded to the student automatically, unless restrictions require that excess amounts be returned to the source.
- Refunds cannot be processed until funds are received and posted to the student account.
- In accordance with federal regulations, the University cannot begin processing refunds until ten days before the official starting date of the term.
- Please note that Anticipated Aid is not yet posted to your account and cannot, therefore, be refunded.
- Refunds are deposited into the bank account you designate 2 to 3 business days from the date the refund is processed. Students and Authorized payers can see the processing date of the refund on the student account (the View Accounts screen in PittPAY).
Resources
|
