Student Account Refunds
A credit balance in your student account is created when financial aid, personal payments and credits exceed total charges due. A refund of the credit balance will generally be processed and returned to you by check.
Unless you enroll for the Student Account Direct Deposit, the refund check will be mailed to the current mailing address listed on your University record.
Fall/Spring Semesters: The first refund processing begins approximately 7 - 10 days prior to the start of the Fall and Spring Semesters. It is important that you make any necessary changes to your registration, room, or board prior to that time to ensure that your refund can be issued on a timely basis. After the semester starts, refunds are processed weekly and are either directly deposited into the checking/savings account of your choice or mailed to your current term address.
Summer Semester: Refunds are processed weekly beginning after the June classes have started and the first summer financial aid is applied. Your refund is either directly deposited into the checking/savings account of your choice or mailed to your current term address.
To expedite your refund, you may wish to utilize the Direct Deposit Refund option available to you on WebAdvisor.
No refunds will be issued if you have not completed the Electronic Attendance Confirmation in WebAdvisor and confirmed that you are attending.
Direct Deposit Option - Student Account Refunds
- How does Direct Deposit work?
The South Dakota Board of Regents (SDBOR) University System offers students the convenience of electronic Direct Deposit. This program allows you to have your Student Account Refund deposited directly into your personal checking or savings account. Most financial institutions throughout South Dakota and the United States are in the direct deposit network.
Once you enroll for direct deposit, the SDBOR University System will send your Student Account Refund electronically to your financial institution. The SDBOR University System will send an email notice to your University assigned official email account to inform you that the transaction will be deposited into your designated account within 1 to 2 business days. Please confirm with your bank that your funds are available before you begin to write checks, pay bills or withdraw money.
You may add, change, or delete your direct deposit information by completing the enrollment form on WebAdvisor.
- What are the benefits to direct deposit?
- Quick and convenient
- Safety and confidentiality is assured with electronic transfer to your personal bank account
- Avoid lines at the Cashiers Office windows
- No more waiting for the check in the mail
- No risk of misplacing your check
- Eliminates the possibility of your check being lost or stolen
- Avoid lines at the bank lobby or drive-up
- Saves postage costs and avoids delays of banking by mail
- What am I agreeing to by enrolling for direct deposit?
Direct Deposit Terms & Conditions
Yes, I elect to have all student account refunds, including Federal Financial Aid in excess of my charges, deposited into my checking or savings account through direct deposit.
I authorize the South Dakota Board of Regents (SDBOR) University System and the financial institution listed to initiate an electronic deposit to my account. I understand it is my responsibility to inform my home university of any change to my direct deposit information. Unless I notify my home university otherwise, this authorization will remain in effect for all semesters for which I am enrolled in the SDBOR University System.
I acknowledge that the SDBOR University System may initiate a reversing entry to my account to correct an erroneous credit or debit entry previously initiated by the SDBOR University System. I also acknowledge that the origination of direct deposit transactions to my account must comply with the provisions of US law.
I understand I must contact Human Resources at my home university to make changes to my direct deposit information for Payroll and payments other than student refunds.
- How do I enroll?
You enroll for Student Account Direct Deposit via your WebAdvisor account. Log on to WebAdvisor and under “Financial Information” click on “Direct Deposit Refunds.” Using a check or a savings deposit slip as a guide, you will need to fill in your bank’s routing number, account number, indicate whether it is a checking or savings account and agree to the terms and conditions. That’s all there is to it. The agreement is effective immediately upon completion.