Your refund from Federal Title IV funds (Subsidized & Unsubsidized Direct Loans, Federal UG Parent Plus Loans**, Federal Pell & Federal SEOG grants) will be processed within 14 days of receipt. We will not process a refund for any balance less than $200.00, unless requested by the student.
Federal Plus Loans: Refunds will be processed to the student unless the credit is the result of a Federal UG Parent Plus Loan. In this case the refund, by paper check, will be processed and mailed to the parent who secured the loan. If the parent would like the refund processed by eRefund they will need to contact the Student Accounts office at email@example.com.
Your refund will be sent to you by the following methods:
- eRefund: electronic refund directly into your personal bank account, but you must sign up for it (see instructions below); or
- Echeck: an electronic paper check that is directly emailed to your DU email address; you must download to print the Echeck, and deposit it with your bank; or
- Paper check: Paper checks will be mailed to the student's home address on file
eRefunds are our preferred method and will be processed on a weekly basis. If you have not done so, you will need to sign up for eRefunds within mydu with our 3rd party vendor Transact/Cashnet. When signing up, you will provide your personal bank account and routing number onto a secure website. Once signed up, any refunds that are due to the student will be process as a eRefund, and will continue unless the student removes/changes his/her bank account information, or the student's bank rejects the payment.
Echecks are our next preferred method, and will be processed on a weekly basis. Echecks save mailing time and are safely sent to your DU email address. You will receive an email that an Echeck was processed for you. Separately, our vendor, Paymerang, will send you an email notifying that a check is attached to the email, with instructions for you to download and print the check. You will deposit or cash the eCheck, as you would any other paper check.
Paper checks, least preferred, will be processed on Wednesdays and mailed to the student's home address on file. This is a slower route of receiving payment and not as secure.