Frequently Asked Questions About eRefund (Direct Deposit)
1.What is eRefund (Direct Deposit)?
2.What kind of money is eligible for eRefund (Direct Deposit)?
3.What are the advantages of choosing eRefund (Direct Deposit)?
4.How do I sign up for eRefund (Direct Deposit)?
5.After I sign up for eRefund (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 eRefund (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 eRefund (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 eRefund
(Direct Deposit)?
You can sign up for Direct Deposit on-line at our Student
Accounts Services web site. You can enroll in the program, make account
number changes or cancel your eRefund (Direct Deposit) option. [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 University
Disbursements 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?
If you have entered an email address in your Portal account, University
Disbursements will notify you by email each time a deposit is made to
your personal account (otherwise, you will be notified by regular mail).
For details regarding the deposit, you may check your SDSU student account
on-line at Student Financial
Services. Transaction history can be accessed under 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, or ask that we cancel your Direct
Deposit, we carry your account information from semester to semester,
and year to year. [page top]
9. What if I change bank accounts?
You must go back to Student
Accounts Services and make the changes to your account and the appropriate
information about the new account. [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 telephone. At that point, we will remove you
from direct deposit and mail a check to you. If you want to have future
disbursements sent via direct deposit, sign in to your student account
and input your new checking or savings account information.[page
top]
11. What if I want to cancel
my Direct Deposit?
You must go online to Student
Accounts Services and select the Cancel option. Allow at least one
week for processing. Once your request is processed, all subsequent financial
aid disbursements will be mailed to you. [page top]
12. Still Have Questions?
If you have further questions, contact University Disbursements at (619)
594-6422 or email: disb@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 May 29, 2008
Site contact: fgracia@mail.sdsu.edu