Financial Aid
Refunds/Disbursements

Main-campus and Kendall College of Art and Design Student Refunds

Students who have completed all requirements and have excess financial aid will receive direct-deposit refunds on the following dates:

Fall 2014

  •  Huntington Bank: September 12, 2014
  • All other banks: September 15, 2014

Refund checks will be mailed to the permanent address of any student eligible for a refund that does not have an active direct-deposit account, on September 19, 2014.

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 - September 19, 2014.


 

Consortium Student Refunds

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: September 26, 2014


How Financial Aid Is Disbursed

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.

 


Instructions For Setting Up A Direct Deposit Account:

  • Click on the "Academics and Services" tab
  • Locate the Timme Center for Student Services channel
  • Click on Student Financial Aid Direct Deposit
  • Click "Start"
  • Enter the 9 digit "Bank Routing Number" for your bank account
  • Enter your bank account number
  • Click on SUBMIT
  • Click on "I AGREE"
  • Your screen should read: "Your Direct Deposit Information has been changed"

 

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.