FAQ'S Direc Deposit

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Frequently Asked Questions About Direct Deposit

 

1.What is 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?

12.Still have questions? 


 
 


 
 
 
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 Dec. 16, 2009

 

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