Why wait for a paper check to be processed, mailed, and cleared by your bank when school refunds can be sent directly to the checking or savings account of the registered student in 2-3 business days?
- Why choose ACH for a refund or for payments from your school?
While you still have the option of requesting the educatecard or a paper check for refunds, ACH provides you with access to funds via your existing checking or savings account in 2-3 business days.
- What kind of school refunds can be deposited via ACH?
Examples can include:
- Financial Aid awards
- Scholarship awards
- Dropped or cancelled courses
- Credit balances after application of waivers or exemptions
Federal law requires that tuition-related refunds be sent to the registered student.
- How are funds transferred to an account via ACH?
When selecting the ACH option for refunds, have your checking or savings account information available, including:
- Bank Name
- Account Number
- Routing Number
When funds are released by the school, they will then be processed for transfer from the school to the account number of the registered student. Access to these funds generally takes 2-3 business days.*
*Access may vary depending on your bank's processes. Please check with your bank for more information.