University Bursar - When will I get my refund?
University Bursar processes financial aid refunds twice a week.
The schedule of financial aid refunds is as follows:
- Urbana: Monday and Thursday
- Chicago & Springfield: Wednesday and Friday
To receive your refund in a timely manner, enroll in direct deposit
. When the refund transaction is posted to your student account, you will receive an email notifying you the transaction was processed. If you are signed up for Direct Deposit, it takes approximately 3 to 4 business days for the refund to deposit in your bank account. Be sure the funds are available prior to spending it. If you are not
enrolled in direct deposit, a check will be mailed to the address on file with the university and takes approximately 10-15 business days to be received.
Exceptions to the schedule:
- If the credit is sitting on a credit card payment, a refund will be issued back to the credit card used for payment.
- If your financial aid is under review, a refund might not be issued until all adjustments have posted.
- Personal payments resulting in a credit balance may be held and applied toward future charges.
- Other exceptions may apply. For further information, email firstname.lastname@example.org.
If you do not enroll in direct deposit, it can take over 10 days from the date your refund transaction is posted to your student account to be sent to your mailing address on file.