WAITING ON A REFUND? WONDERING WHAT’S TAKING SO LONG?
It’s understandable that you want your funds credited back to your account as fast as possible. Follow the below action items to ensure that your refund gets processed without delay!
- Have you completed an updated FAFSA for the new award year? If not, go to fafsa.ed.gov and complete the 2017-2018 FAFSA. Keep in mind, the application takes roughly 3 to 5 business days before it has been fully processed by the Department of Education and made available for Strayer review the report. Remember: you must complete a new FAFSA every year if you wish to continue receiving financial aid.
- Were you selected for any reviews such as Verification, UEH (Unusual Enrollment History), or do you have another financial aid award issue that needs to be resolved? You will receive a Student Aid Report generated by the Department of Education that will indicate any actions that still need review. Each of these action items is assigned a specific “Comment Code” that is identified by a numerical value or letter from the alphabet. If you have actions that require review, you will want to submit all required documents as soon as possible to rectify any outstanding items.
- Are you enrolled in an aid eligible program? If you have not completed your admissions requirements, please contact your admissions officer to ensure you submitted all requirements.
- Ensure you have posted attendance in all enrolled courses.
- Once all Awarding/Disbursement requirements have been met, it takes 3- 5 business days for your award(s) to post to your student ledger after the initial payment of the term (2nd week of classes).
- Once your financial aid has been applied to your student ledger and we have released the funds, it is transitioned to our Third Party vendor, ECSI, who processes refunds on behalf of our students.
- If all items above are met and you wish to use “Direct Deposit”, ensure you have an active account set up (Insert Link). If you do not, a check will be mailed to you. Checks take 7 to 10 business days to receive.
If you are utilizing Direct Subsidized and Direct Unsubsidized loans, you can review your up to date loan history at NSLDS.ed.gov. This portal will display every loan you have been awarded, the loan status (in good standing or delinquent), any Pell or Direct Loan overpayments, and if you are approaching your aggregate loan limits. Keep in mind; you have $57,500 available for undergrad programs and up to $138,500 for graduate programs. Once you have reached your cap for your degree level, you will need to determine an alternative method of payment.