How Refunds Work
Oftentimes, at the start of each semester, students end up with a credit balance (overpayment) on their student account. This is typically due to financial aid funds that have been disbursed to your student account and the resulting balance exceeds the total of charges. The only exception is in the case of a Parent PLUS loan. In this situation, the refund will be sent by check to the parent borrower unless during the application process, the parent indicated that any Parent PLUS loan overpayment should go to the student. Contact the Office of Student Financial Services at 513-745-3142 for any questions.
Every week, Xavier processes refunds for students who have overpayments on their bursar account. We review the accounts on Mondays and Tuesdays and process the refunds on Wednesdays.
Xavier University has partnered with BankMobile in managing the refund process and issuing refunds for any credit balance that occurs on a student's bursar account. Refunds are not available for pick up. For more information about BankMobile, visit this link: http://bankmobiledisbursements.com/refundchoices/.
It's important to note that:
- A $75 fee will be charged to a student's bursar account when the student requests the refund of an overpayment on their bursar account outside of our normal weekly refund process. The Bursar's Office processes refunds every Wednesday through BankMobile. However, the analysis that leads up to issuing a refund begins on Monday or Tuesday of each week, depending on the volume of refunds to process. As mentioned above, if a refund isn't included in the normal process because there was no overpayment at the time of the analysis and the student wants their refund anyway, the student's bursar account will be charged $75.
- This credit balance process is not related to payroll direct deposit. Those preferences must be coordinated through the payroll department.
- Students can enter their checking or savings account information or that of a parent or guardian if the student wants someone else to receive any credit balance/overpayment from their student bursar account.
- Xavier does not issue refund checks for pick-up.
- - - - -