REFUNDS - DIRECT DEPOSIT
Direct Deposit/Electronic Funds Transfer (EFT)
Direct Deposit/EFT is the safest and quickest way to receive your Financial Aid or cash refund. The Direct Deposit refund is sent directly to your checking or savings account.
Signing up is EASY!! Go to your Student Portal and follow these links to sign up:
Accounts and Billing >> Direct Deposit
Or you can go to the Direct Deposit Application and follow the instructions. Fill out the form on-line and either print the form and fax it to Student Business Services at (831) 459-3918, or drop it by 203 Hahn Student Services. You can also cancel or change your banking information using this form.
EFT refunds are sent after the first official day of each quarter and subsequently after that according to the following guidelines: Undergraduates must be enrolled in at least 6 units, and graduate students in at least 5 units in order to receive a refund. Once you are enrolled in the required units and have no other holds on your student account, the refund will be generated. This process occurs 3 times a week on Monday, Wednesday, and Friday nights. Every bank differs when it comes to posting electronic payments. Verify with your bank when your funds will be available. Normally this is between 24-48 hours after the disbursement.
IMPORTANT: You will remain signed up for Direct Deposit until you cancel the authorization. Please keep your bank information current to avoid delay in receiving your refund.
Check Refunds
Check refunds are produced after the first official day of each quarter. UCSC produces checks twice a week and mails the checks out 1-3 days after the check is printed. These checks stale date after 90 days, which means they are not negotiable at that time and would need to be reissued. The check is mailed to the "Mailing" address provided by the student on the Student Portal. It is important to keep addresses current and up-to-date. Lost or stolen checks cannot be reissued for 21 days after the date of issuance.
Remember that other charges may appear on subsequent billing statements after you receive your refund. Check the Student Portal for updates and new changes. These charges are due and payable each statement cycle, regardless of whether or not Financial Aid has already paid out to your account.
If you have a credit balance on your account from an overpayment of a General Payment made by a check, there is a 21-day waiting period before a refund is generated.
Please contact us for further information at 831-459-2107 or by email at oarinfo@ucsc.edu.