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 sent the refund.

• Refunds cannot be mailed until funds are received and credited 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.
• We cannot issue a refund related to Stafford and other guaranteed student loans until the loan funds have been applied to your account.
• A refund check will be automatically generated and sent to you at your home mailing address, unless you are registered for Direct Deposit. 
• If you have not registered for Direct Deposit in PittPAY, a refund check will be automatically generated and sent to you at your mailing address. You should receive the check 3 to 5 business days after the date of the refund transaction on your student account. You will then need to endorse the check and deposit it into your bank account. Some banks may not make the funds available to you to use for 3 or more business days, until they are certain the check has cleared through the banking system

DIRECT DEPOSIT

• If you have registered for Direct Deposit in PittPAY, your refund will be deposited directly into your bank account 2 to three business days after the date of the refund transaction on your student account. The funds will be immediatley available for you to use once they are deposited into your account.
• 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. 

• Credit Card Adjustments (Credit Card Payments) Existing Discover/MasterCard/American Express regulations prohibit the University from making a refund to you in cash or by check when you made your payment by credit card and there is an adjustment made to the charges paid. When you pay by credit card and there is a reduction in the amount of your charges, we are required to credit the credit card account you used to make the payment.

• Stop Payment Requests: If you do not receive your refund check within 2 weeks, you should contact the Business Office. They will verify the required information with you. Requests to trace a check through the banking system must be made at the Business Office, in person or in writing. This process takes up to seven (7) working days. If the bank finds that the original refund check has not been cashed, the Business Office can stop payment on the check and issue a new check to you. You will be charged a $30 fee for this service. The fee will be waived if you sign up for Direct Deposit.