Refunds

Qualifying students who have financial aid that exceeds the amount due will be issued a refund upon disbursement of that financial aid.

You have two options for receiving refunds:

1. Direct deposit into a checking or savings account. Set up direct deposit in less than three minutes.
2. A check mailed to the mailing address you have on file.

Note: If no option is selected in UA eRefund, a check will be mailed to the mailing address we have on file.

No. The University's policy is that all refund checks must be mailed. The student is responsible for ensuring their address is accurate. You can confirm/update the address where you want the check to be mailed by accessing Self Service through My Akron. All checks are mailed to the mailing address on file in the system.

You will receive an email notification to your UAkron account when the check is ready to be mailed.

A refund check will be mailed to your mailing address that is on file in the University's student system. Checks are generated once a week, so please remember to allow up to two additional weeks for mailing and processing. For a faster refund, it is recommended that you sign up for Direct Deposit through MyAkron.

Refunds will be processed for qualifying students after financial aid has been disbursed. Your financial aid disbursement depends on your enrollment and if you have completed all the necessary steps to complete your financial aid.

Loans are disbursed to your student account provided you have:

• Accepted the loans
• Completed the Direct loan Master Promissory Note
• Completed Entrance Counseling (new loan borrowers only)

Important Note: Anticipated Aid is based on full time enrollment. This amount will be reduced at time of disbursement if enrollment falls below full time.

Visit Financial Aid for more information.

If you drop or add classes or your Financial Aid is adjusted, your payment plan balance will adjust automatically based on credits or additional charges to your account. Your unbilled installments will be reduced or increased based on the amount of the adjustments.

See the refund schedule to determine how much of a refund you are eligible to receive.

Refunds are not issued for students who fail a class.

Students can activate their refund account by logging into MyAkron and selecting UA eRefund. Remember to have your banking information available when logging in. You will need to have your bank routing number and account number.

No. There are no fees for students using this service, regardless of which payment option is selected.

For questions about eRefund, please contact the Office of the Bursar at 330-972-5100.

No. Student workers being paid work study must sign up for Direct Deposit through the Payroll Office.

The advantages of having your refund deposited directly into your existing account is that you will receive your refund faster, and it is more secure.

Yes, if the Parent Plus loan applicant was previously enrolled in Direct Deposit. Any new Parent Plus loan applicant will receive a paper check.

The student will be contacted for correct information and/or a check will be mailed. The refund may be delayed at least 7-10 days. Future Direct Deposits will not be permitted unless bank information is corrected.

Every financial institution in the United States has at least one routing number and based on mergers down through the years, multiple banks may have the same routing number. Contact the Office of Student Accounts or check Routing Number Verification to confirm.

It takes on average 3 days from the date of the refund process in the Student Account's Office.

Yes, you can do this by logging into MyAkron, selecting UA eRefund, then selecting the Payment Method tab, clicking the Direct Deposit Option, and completing the information. You can use MyAkron to change/update your banking information at anytime.

You can inactivate an account and activate a new account through your My Akron eRefund portal.

No, once the student signs up this is their permanent refund option until the student makes a change or the direct deposit is rejected by the Bank.

No, the "balance" of the refund must be credited to one account.

Once the bank account information has been entered and confirmed it is encrypted for the student's protection. No one is able to view that information except the banking institution who is processing the transaction.

You will receive an email notification to your UAkron email account when funds are ready to be sent to your bank account. When you receive this message, you can check your bank account either on-line, at an ATM, or at your bank's branch office.

If the Student Account's Office has identified a bad address previously on your account (Bad Address Service Indicator) your Direct Deposit will not be processed.

Visit NACHA for more information.