Credit Balance Refunds

If total payments (not including anticipated financial aid) on a student’s account are in excess of total charges, then the student’s account is deemed to be in a credit balance status. If a student’s account is in a credit balance status, then the Student Accounts Office will process a refund for you after the add/drop period. Please navigate to myCU, Student Account Information Tile, Refund Preferences, and complete the page so that the Student Accounts Office knows how to process your refunds.

If you require funds prior to the add/drop period being complete, then you may request an advance refund up to $1,000 if your anticipated credit balance is $1,000 or greater: please email studentfinancials@clarkson.edu for refund advance requests.

• All refunds are considered due to the student and are processed as payable to the student with the exception of the Parent PLUS Loan calculation described below.  
• Any authorization obtained from a student for disbursing federal financial aid funds continues to be valid in subsequent years unless rescinded.
• Student accounts involving a payment plan are not eligible for a refund until all obligations of the payment plan have been met. 

Credit Refunds and the Parent Borrower

Federal Direct Parent PLUS loan funds are first applied to the student’s tuition, fees, room, and board, and, if the parent provides authorization, other educationally related charges. Since the student may receive additional unrestricted aid creating a credit refund subsequent to the Federal Direct Parent PLUS Loan posting to these charges, the refund will go directly to the student.

Any Federal Direct Parent PLUS loan funds that remain after the aforementioned charges have been paid may be refunded to the parent.

Direct Deposit of Student Account Refunds

To expedite the receipt of your credit balance refund, students are strongly encouraged to enroll in direct deposit through their MyCU Self Service account.  This option is only available if your financial institution / bank account is in the United States.

In the event it becomes necessary to revoke your direct deposit enrollment, please send a request to studentfinancials@clarkson.edu from your clarkson.edu e-mail account.

Please allow for 10-14 business days for direct deposit enrollment authorization.  If a refund is requested prior to authorization, a one-time paper check will be processed.

Be advised that depending on your bank’s policy and the timing of your refund request, it may take up to 2 business days from the time of processing for availability of funds in your account.

How to enroll in direct deposit

1. Log into myCU
2. Navigate to the Student Account Information Tile
3. Click on the Direct Deposit Link
4. Click on the Enroll in Direct Deposit button
5. Add your banking information, read the agreement and click on the agree slide button and then click the submit button.

Please contact your Student Achievement Services Representative if you have questions regarding credit balance refunds.