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Understanding Your Financial Aid Refunds

A refund will be issued each semester to students whose financial aid awards are greater than the charges on their student account. Typically this will be 10 days prior to the start of classes. To have a better understanding of refunds, including items you should or should not purchase with your refund, follow the instructions on this page.

For further information on refunds, visit the Office of Student Financial Aid or Sycamore Express.

Things to Consider Regarding Your Refund

Just because you are eligible for a refund does not mean you have to keep it-or that you should spend it on anything you want.  Before you make any decisions regarding your refund, follow these steps:


Step 1: Determine the source of your refund

  • Grants and scholarships do not have to be paid back.
  • Loans have to be paid back and acquire interest.

Step 2: Decide if you need the refund

  • Since loans have to be paid back, determine how much of the refund you need.
  • Only take out the amount you need for tuition, books, school supplies, and living expenses.

Step 3: Return your refund if you do not need it.  

Refunds can be returned to the Office of the Controllers, Parson Hall room 100.  For more information on refunds, visit Sycamore Express.


Direct Deposit of Refunds


At Indiana State University, the quickest and most convenient way to get your refund is by direct deposit.  

To set up your account for direct deposit, follow these instructions.

Note: Students who do not sign up for direct deposit will have refund checks mailed to their student mailing address, as maintained in the Office of Records and Registration, in the student's name.  Refund checks made payable to parents will be mailed to the address listed on the Parent PLUS Loan Form.  All refund checks received must be used to pay educational expenses.





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