Policy Steward: 
Director of Business Services
Format Updated: 
University Policy & Standards Converted: 
Revision Date: 
Tuesday, August 11, 2015

This information replaces FIS 302-07 Disbursement of Financial Aid


Refund Checks (Disbursement of Financial Aid)

Federal regulations commonly referred to as Title IV Regulations and administered through the United States Department of Education, dictate how OSU refunds credit balances to students.  These regulations are found in "The Blue Book" of US Dept of Education.  

The release of financial aid to the student’s account is dependent on meeting the requirements of the specific award and the Financial Aid and Scholarships Office. 

After financial aid has been applied to applicable or allowable charges, if financial aid amounts exceed the amount of allowable expenses owed, a refund payment will be generated for these students (if the surplus exceeds $1.00).  A refund is not issued for financial aid refunds of less than $1.00.  

All refunds are directly deposited to the student’s banking account on file.   Students may enroll in direct deposit via Online Services, and may change or cancel their banking information at any time.  If the payment is in the form of a check, checks will be mailed to the current mailing address on the student's record at the time the check is printed. The student is responsible for ensuring the current mailing address on file is accurate.  Checks are not available for pick up in person.

Receiving a financial aid refund payment does not mean that a student does not owe the University.  Federal financial aid cannot be applied to non-allowable (not institutionally required) charges, as well as, any charges incurred prior to the current financial aid award year.

Send an e-mail to requesting a refund. Include your name and University ID number. Transactions coded with the description "Tuition/Scholarship Refund" indicate that a refund check has been issued to the student.

Additional information can be found at the website for Student Finance.