Refunds

Students can request a refund resulting from an over payment by submitting a request on MySlice. Refunds will be available by direct deposit or by mail. A copy of your ID may be requested if mailing to an address not on file with the University.

Excess Credit Refund Options
Students can request an excess credit refund resulting from an overpayment by submitting a request via MySlice . Refunds resulting from an overpayment from non-Federal Title IV aid are available by direct deposit or by check and are processed based on the student’s request in MySlice.

Credit balances created by Federal Title IV aid are reviewed weekly and processed within 14 calendar days of the date the excess credit is created. There is no requirement to make a designation to receive your Title IV refund. Students who do not elect direct deposit will receive the excess credit balances via a check mailed to the home address. (You many contact the Bursar’s Office through the MySlice request a refund option if you would like your refund mailed to a different address).

Direct deposit is a safe, secure way to receive your refund. It eliminates waiting for your check or any issues with cashing your check. By enrolling in direct deposit (in MySlice), your credit refund is electronically transferred into your U.S. based checking or savings account. Choosing direct deposit give you the most secure, timely and most convenient access to your funds.

Tuition Adjustments
All tuition adjustments for withdrawing students are determined by Bursar Operations based on the date of the withdrawal or leave of absence using our established policies with the exception of those cases where Federal regulations stipulate a specific methodology be followed.

Credit balances /Excess Credit Refunds that include Federal Title IV aid
Federal grants and loans can only be used to pay current academic year charges except as noted below: Excess credits (funds) resulting from federal grants and loans are refunded by direct deposit or check within 14 calendar days of the credit. If there are charges from a prior academic year, a student can authorize that up to $200 of current year federal grants and/or loans be applied to pay an outstanding balance from a prior year.

Credit balances /Excess Credit Refunds resulting from cash overpayments, University aid and alternative loans and outstanding University obligations
For credit balances that are not generated by Federal Title IV aid, the University may exercise the right of offset, meaning that a credit refund amount in a term will be issued only after all other known University past due obligations (bookstore charge accounts, prior term charges etc.) are satisfied. This may result in a refund that is smaller than the excess credit for a term.

Retaining Excess Credit Balances
Students may authorize the University to hold excess credits (funds) on their accounts, understanding that any interest earned on these funds will be retained by the University to be used in its general operation. Students may at any time cancel such a request and receive a refund of excess funds by emailing the Bursar’s Office at bursar@syr.edu or requesting a refund in your MySlice portal account – this will serve as the University’s notice that you wish to cancel your request to hold excess credits.

There must be a credit on the account for us to process a refund. If your refund is created by a personal check over payment, the University reserves the right to hold the refund request from processing until the check has cleared. In typical cases, it will be two full weeks, but may be longer.

In the event that you take a leave of absence or withdraw from the University, your student account may be subject to pro-ration or removal of your financial aid for that term. If you receive a refund based on this funding, any subsequent financial aid adjustments resulting from a withdrawal or leave may result in a balance due on your bursar account, which will be due immediately upon your departure from the University. If you have any questions on this, we encourage you to contact our Financial Aid Office at 315-443-1513, or the Bursar’s Office at bursar@syr.edu or 315-443-2444.