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Student Account Refunds

General
Info
Refund Processing Schedule  
  • Checks: Processed on Thursdays and mailed on Fridays
  • 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. It could take 1 - 3 weeks to process your refund.

  • 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. Students who wish to have their refund issued to the card must bring the original debit card used for the payment 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 federal 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 federal financial aid funds is due to escheat to the State of Michigan, the university must instead return the federal 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.  


Refunds
Summer Semester 2015
  • Refunds resulting from third-party or credit card payments will not be processed until after the 100% tuition refund date for full semester courses (after May 23, 2015). It could take 1 - 3 weeks to process your refund.
  • If your financial aid does not cover your charges, and you are unable to pay your balance in full by the bill due date (June 1, 2015), you may enroll in a payment plan by the bill 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 as processed on the eBill if you are enrolled in direct deposit.
  • 1-3 weeks from the date the refund shows as processed on the eBill if you receive a check through the postal mail.

Fall Semester 2015
  • Refunds resulting from third-party or credit card payments will not be processed until after the 100% tuition refund date for full semester courses (after September 18, 2015). It could take 1 - 3 weeks to process your refund.
  • If your financial aid does not cover your charges, and you are unable to pay your balance in full by the bill due date (September 24, 2015), you may enroll in a payment plan by the bill due date.
  • 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 as processed on the eBill if you are enrolled in direct deposit.
  • 1-3 weeks from the date the refund shows as processed on the eBill if you receive a check through the postal mail.

Full semester classes (September 3 - December 15)

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 enrolled classes run the full semester.

Second Half semester classes (October 20 - December 15)

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 15) and your aid pays to your eBill on or after October 20, 2015.
  • Your financial aid has paid to your eBill and exceeds the amount of your charges. 

Winter Semester 2016
  • Refunds resulting from third-party or credit card payments will not be processed until after the 100% tuition refund date for full semester courses (after January 20, 2016). It could take 1 - 3 weeks to process your refund.
  • If your financial aid does not cover your charges, and you are unable to pay your balance in full by the bill due date (January 26, 2016), you may enroll in a payment plan by the bill due date.
  • 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 as processed on the eBill if you are enrolled in direct deposit.
  • 1-3 weeks from the date the refund shows as processed on the eBill if you receive a check through the postal mail.

Full semester classes (January 5 - April 26)

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 enrolled classes run the full semester.

Second Half semester classes (February 29 - April 26)

You will receive a financial aid refund as long as: 

  • Your enrollment includes classes that start in the second half of the semester (February 29 - April 26) and your aid pays to your eBill on or after February 29, 2016.
  • Your financial aid has paid to your eBill and exceeds the amount of your charges.