Refunds

What generates a refund?

  • Excess financial aid after tuition and fees are paid;
  • Tuition and fee reduction (adjustment) due to eligible course drop (within 30 days of start of class) or enrollment termination such as LOA or withdrawal (before 60% of attendance of the semester)

Student Account Adjustment/Refund Policy

  • The policy is listed on new student Matriculation tile on PSCS requiring review and acknowledgement.
  • It can also be accessed online - Refund Policy for All Students.
  • Students are asked to acknowledge the policy each time submitting credit card payment

How refunds are processed

  • Refunds are processed twice a week - Tuesday morning and Thursday morning (with possible change of schedule during year-ends and holidays).
  • Refunds are then direct deposited to student's designated bank account within 72 business hours afterwards.
  • For rejected direct deposit (possibly due to incorrect bank account the student entered during setup or closed-out bank account), upon receiving the reject notification the Bursar's Office will process the refund as a paper check and notify the student to pick up.

Direct Deposit

All students are required to set up direct deposit from the start.  Direct Deposit is safe with all sensitive information encrypted upon entering.

Benefits of setting up Direct Deposit:

  • Quicker access to your money
  • No special trip to the Bursar's Office to pick up your refund check
  • No waiting for your check to arrive in the mail
  • No waiting in line at the bank or ATM to deposit your check
  • No worrying about a lost check

Instructions to set up Direct Deposit:

  • Incoming students are required to set up Direct Deposit at the time of matriculation, via the Matriculation tile on their PSCS self service portal.
  • When there is a bank account change, students are required to update their Direct Deposit setup via the Finances tile on their PSCS self service portal.
  • Students of Morningside Graduate School of Biomedical Sciences and PhD/MD students: This Direct Deposit is different from the one you are required to set up for receiving your bi-weekly stipends from HR. This is for student account refunds only and applies only if you ever receive loans and/or scholarship on your student account.