Frequently Asked Questions About Direct Deposit
2.What kind of money is eligible for Direct Deposit?
3.What are the advantages of choosing Direct Deposit?
4.How do I sign up for Direct Deposit?
5.After I sign up for Direct Deposit, when will I receive my financial aid or scholarship?
6.How will I know that the funds have been deposited into my account?
7.How much money will be deposited?
8.Do I have to sign up for Direct Deposit every semester? Every year?
9.What if I change bank accounts?
10.What will happen if I forget to notify SDSU that I have changed my account?
11. What if I want to cancel my Direct Deposit?
1. What is Direct Deposit?
Direct Deposit is a way of transferring funds from one bank account to
another. In this case, money moves from SDSU's account to your personal
checking or savings account. [page top]
2. What kind of money is eligible
for Direct Deposit?
Financial Aid and Scholarship funds are eligible for direct deposit. Proceeds
from Federal Direct Parent Plus Loans are not eligible for direct deposit.
Proceeds from these loans will be mailed to the parent at the address
they provided on the Request for Federal
Direct Parent Plus Loan form. [page top]
3. What are the advantages
of choosing Direct Deposit?
1. Typically, you will receive your funds more quickly than you would
by mail.
2. You don't have to wait for the mail to come, or worry about your check
being lost or stolen.
3. You don't have to take your aid check to the bank - we do that for
you! [page top]
4. How do I sign up for Direct
Deposit?
You can sign up for Direct Deposit on-line at Student
Account Services online section. [page top]
5. After I sign up for Direct Deposit,
when will I receive my financial aid or scholarship?
That depends on several factors: how soon you sign up, when Student
Account Services receives your award information from the Office of
Financial Aid and Scholarship, when you have enrolled at least half-time,
and whether or not there are holds on your record. [page
top]
6. How will I know that the funds
have been deposited into my account?
The email address you entered in your Portal account, Student
Account Services will use to notify you by email each time a deposit
is made to your personal account. For details regarding the deposit, you
may check your SDSU student account on-line at Student
Account Services. Transaction history can be accessed under online
Student Account Services. Also, your bank/credit union may provide their
customers direct access to account information on-line or by telephone.
[page top]
7. How much money will be deposited?
That depends on several factors: what you were awarded per your Financial
Aid Award Letter, whether you are enrolled less than full-time, and whether
your registration fees and/or residence halls costs are to be covered
by your financial aid. [page top]
8. Do I have to sign up for Direct Deposit every
semester? Every year?
No. Once you have signed up for Direct Deposit at SDSU, unless you close
your personal bank/credit union account, we carry your account information
from semester to semester, and year to year. If you change/close your
account, it's your responsibility to update your account information.
[page top]
9. What if I change bank accounts?
You should log in to your Student Account and update the new information
online. [page top]
10. What will happen if I forget to notify SDSU
that I have changed my account?
Our Direct Deposit transaction will be rejected by your bank/credit union
and we will notify you by email. At that point, you must update your account
information for your Direct Deposit, so we can deposit your funds into
your new account.[page top]
11. What if I want to cancel
my Direct Deposit?
You can't cancel your Direct deposit, you can only change your account
info by loggin in online. [page top]
12. Still Have Questions?
If you have further questions, contact Student Account Services at (619)
594-5253 or email: stuaccounts@mail.sdsu.edu.
[page top]
Information on this Web site is subject to changes without
notice. Every effort is made to ensure that information is current and
accurate. The statements found on this Web site are for informational
purposes only. This page was last updated June 09, 2009
Site contact: fgracia@mail.sdsu.edu