Students with a credit balance resulting from federal aid and/or federal loan monies will automatically receive a refund, after all charges have been covered and a credit exists on their account.
Students receiving federal loans can expect to receive 2 email notifications:
- The first email notification will come from the US Department of Education. This "disclosure statement" email will confirm the net loan amount approved for disbursement.
- The second email notification will come from the Financial Aid Office. This email confirms loan funds have been received by the school and are posted to the student account. Once loan funds have posted, the refund disbursement process will begin.
Students have the option to receive their refund through direct deposit to their own bank account or to a Money Network© Enabled MasterCard© CBU CashCard.
Students may select their preferred disbursement option by visiting www.enroll.moneynetworkedu.com.
If a preferred disbursement option is not selected, a paper refund check will be automatically mailed to the student's campus box, if applicable, or to the student's permanent address. Students are responsible for making sure their correct address is on file in the Office of the University Registrar.
- This option is typically preferred by students who already have their own bank account.
- Bank routing number and account number will need to be provided at the time of enrollment.
- Funds transferred to a bank account are usually available within 3–7 business days.
- The CashCard can be used everywhere debit MasterCard is accepted.
- The CashCard can be conveniently used at over 50,000 Allpoint© Network ATMs*.
- The Money Network© account has no minimum or monthly fees.
- Account includes Money Network© checks that can be cashed for free* at Walmart™ locations.
- Refund is electronically delivered to your CashCard in less time than waiting for a check or an ACH to clear in a traditional bank account.
- Learn more about the CBU CashCard.
*While this feature is available for free, certain other transaction fees and costs and terms and conditions are associated with the use of this card. See the cardholder account agreement for more details.
Refunds will be processed within 2 weeks or less in accordance with federal guidelines. The university is committed to processing refunds as quickly as possible.
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