Refunds and Direct Deposit

REFUNDS 

Amounts received in excess of your charges will be refunded to you automatically, unless restrictions require that excess amounts be returned to the source.

All refunds are made payable to the student except refunds resulting from a Parent Loan for Undergraduate Students (PLUS). When a PLUS loan is posted to a student's account and it creates a credit balance, the parent borrower is issued the refund.

• Refunds cannot be processed until funds are received and posted to your account.
• Federal regulations prohibit the University from processing refunds related to any form of Title IV financial aid until ten days before the official starting date of the term. Please note that Anticipated Aid is aid not yet posted to your account, therefore, it cannot be refunded.
• We cannot issue a refund related to Stafford and other guaranteed student loans until the loan funds have been applied to your account.

Students may have credit balances on their account for several reasons, such as:

1. The sum of the student's financial aid is greater than the sum of the charges
2. The student drops a course that had a course fee (lab fees, physical education fee, etc.)
3. The student makes meal plan or housing adjustments
4. The student's charges are reduced because of enrollment adjustments

So we can refund money without delay, should the need arise, all students must have a Direct Deposit Account in PittPAY.

DIRECT DEPOSIT

• To sign up for Direct Deposit, log into the student portal at https://my.pitt.edu, and follow this path: My Communities>Student Services>PittPAY.
• Select Direct Deposit from the PittPAY menu and follow the instructions on the screens. Make sure you have a check from your bank account in front of you because you will need the routing and account numbers to complete the process in PittPAY. 
• Your authorized payers should also sign up for Direct Deposit if they are expecting a refund from a PLUS loan. If a PLUS loan posts to your student account and creates a credit balance, the refund will be issued to the parent borrower, not the student.
• You create an authorized payer in PittPAY by selecting the Authorized Payer menu option and following the instructions.
• Authorized payers go to http://student-info.pitt.edu and log into PittPAY using the username and password your student assigned to you.
• Select Direct Deposit on the PittPAY menu and follow the instructions. 

• Refunds will be deposited directly into the bank account designated two or three business days after the transaction date.  Students and authorized payers can view the refund transaction date by accessing the View Accounts screen in PittPAY.