Students who have completed all requirements and have excess financial aid will receive direct-deposit refunds on the following dates:
Students eligible for financial aid refunds will have until February 3 to set up direct deposit. If the students does not have direct deposit set up February 3, a refund check will be mailed to the student's permanent address on February 6, 2015.
Please note that if a parent indicated on a Parent PLUS Loan application that any excess aid was to be refunded directly to the parent, a refund check will be mailed to the parent on the check release date - February 6, 2015.
If you have community college classes that have a late starting date, some or all of your financial aid may not disburse to your account until after the late session class has started and verification of enrollment has been completed.
Consortium students who have completed all requirements and have excess aid will receive refunds on the following dates:
Direct deposit: All sites: February 13, 2015
Business Operations at Ferris State University sets up a billing account for each enrolled student. Your billing account will include any charges that are payable to FSU, such as tuition, room and board charges if you live on campus, parking permits, etc.
Financial aid disburses,or pays, directly to your student billing account. Because FSU bills one semester at a time, your financial aid is generally divided evenly between the fall and spring semesters - half for fall and half for spring.
If your financial aid is not enough to cover all of your charges, you will be billed for the difference.
If you have excess financial aid, then you will receive a refund of the excess.
If you have set up a direct deposit account through MyFSU, then excess aid will be refunded directly into your bank account on specific refund dates each semester. If you do not set up a direct deposit account, then your refund check will be mailed to your permanent address on specific refund dates each semester. Business Operations will not mail checks to local addresses, nor will you be allowed to pick up your refund check under any circumstances.
For students who did not have all of their financial aid requirements completed by the first disbursement date of each semester, aid will be disbursed on the next scheduled weekly disbursement date after all of the requirements have been met.
Note: You are responsible for any overdraft fees that may be charged to your bank account. It is your responsibility to confirm with your bank that your refund was credited to your bank account prior to writing checks on your account.