Sign up for Student Account Direct Deposit!
Students are required to sign up for direct deposit in order for the Cashiers Office to most quickly deliver any credit balances directly to their bank accounts. This can be the bank account that you set up with Wells Fargo to make your One Card a debit card OR any other checking account of your choice.
To sign up for direct deposit, login to the Student Center in ConnectCarolina. In the Finances Section, click on Pay Bills/Manage Student Finances. Click on eRefunds and then Set Up Account. Pop-up blockers must be disabled to allow the system to display pages. Instructions on how to set-up direct deposit.
Students can have credit balances for a number of reasons. In fact, they will generally start off with a credit balance, because they usually pay an enrollment deposit months before the first charges are billed. Below are the most common types of credit balance causes and related information.
Financial Aid Credit Balance
Many students receive financial aid that exceeds their student account charges and are entitled to a refund to cover their other living expenses and are required to sign up for direct deposit.
Refunds of credit balances caused by financial aid exceeding student account charges will be refunded to the student by direct deposit to their bank account, usually three to four business days after the aid is placed on the student account. Students who fail to sign up for direct deposit will have to pick up any refunds in the Cashiers Office. Refund checks cannot be disbursed until the first day of classes for the semester. Once the semester has begun, it may take up to 14 days after the aid is placed on the account before any refund check will be available in our office.
Parent Plus Loans
Refunds of credit balances caused by parent plus loans exceeding student account charges will be refunded to the parent by check mailed to the address provided by the parent, unless the parent directs the refund to go to the student on their Plus Loan application.
Non-Financial Aid Refunds
If a student account has a credit balance for reasons other than financial aid, the refund will not be generated until after the first two weeks of classes for the semester. This includes overpayments where personal payments combined with financial aid exceed the balance, credit balances due to dropped classes, and other overpayments. Any refunds related to personal payments cannot be refunded until ten (10) business days after posting to the student account.
Credit Balance Refund Exceptions
In most cases, credit balances are refunded directly to the student. Please be aware of the following exceptions:
- When the credit is due to a potential over-award of financial aid, the credit may be held until the Office of Scholarships and Student Aid has reviewed the account. If financial aid is determined to exceed the federal definition of need, the over-award will be refunded to the appropriate financial aid fund.
- When the credit is due to a payment that unreasonably exceeds charges, the University may choose to return the funds to the payer.
- In the case of posting errors, the University will reverse the error.
Otherwise, the credit is the property of the student. Students may request that credit balances that arise on their accounts be refunded to them or they may request that a particular credit balance be applied to charges in a future term. Standing requests to hold credit balances indefinitely will not be honored.