Direct Deposit for Student Loan Refunds

September 16th, 2009 § 1 comment

Here is a message about a useful new service concerning student loan refunds:

The Office of the Bursar will offer students the option of direct deposit for refunds of financial aid or student loan payments that exceed the amount a student owes the University. By enrolling in this service, students can direct their funds to the bank account of their choice.

“Students will now have easier access to their funds through electronic deposits,” said Bursar Michael Kocelko. The longstanding practice of picking up paper checks has been eliminated, although the checks can still be mailed to students.

The University has partnered with Nelnet Business Solutions, one of the leading education and finance companies in the United States, to offer the service.

So, you’ll be able to have your refunds or excess payments sent directly to your bank account.  This should be helpful in the following ways:

Quicker access to funds

No waiting in long lines to pick up refund checks

No special arrangements for those living off campus or studying abroad

No lost or stolen checks

No mail delays

To sign up for direct deposit, students must register online via cMore, the University portal for student services.

For more questions about student loans, follow this link:

https://sla.uchicago.edu/finaid/0910/faqs0910.html

Julie

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