Refunds: Refunds are required by KU Policy to be deposited via Electronic Funds Transfer (EFT). The amount of refund will be determined by the Adjustment/Refund Schedule. Refunds for financial aid recipients who withdraw (drop all classes) may be applied first to any aid programs from which the student received aid.
Direct Deposit: Students may sign up for Direct Deposit through Enroll & Pay by selecting the Student Financials tile and then clicking the Direct Deposit link form the left-hand menu, or a Direct Deposit Authorization Form (pdf) may be filled out and brought to Student Accounts and Receivables. Once you have submitted the form, any excess financial aid and other credit balances will be electronically transferred to your designated bank account each semester. If you change bank accounts, you must update your bank information online or with a new Direct Deposit form. Parents who are securing a Parent PLUS Loan may also enroll in Direct Deposit by filling out the Direct Deposit Authorization for Parent PLUS loan form.
Note: Students and Parents who do not personally deliver the form to Student Accounts and Receivables must have the form notarized by someone other than a family member.
Payments received by personal check for more than the amount due or credit created by reversal of charges paid by a personal check will be subject to a two-week delay in processing a refund for the excess amount. This is to allow time for the check to clear the bank. Refunds for general payments are processed after the 20th day of class.
For those who do not have direct deposit set up, Parent PLUS refund checks and student financial aid refund checks will be mailed on Fridays only.