Student Account Refunds and Stipend Distribution
Financial Aid Refunds
Students may be eligible for a refund of financial aid and/or loan credits that exceed the charges on their Student Account.
The majority of student refunds are generated by Federal, Private and Institutional Student Loans. Overpayments created by student loans will be automatically refunded to students who meet eligibility criteria. Refunds generated by a Parent Plus Loan will be refunded directly to the parent unless instructed otherwise by the parent.
Refunds delivery dates are dependent on the disbursement of your funds. Please check with your financial aid office for specific disbursement dates and eligibility criteria.
How to Receive your Financial Aid Refund
The University offers a service by which students may elect to have their refunds deposited directly to the U.S. checking or savings banking account of your choice- myUchicago Direct Deposit. To enroll in this service login to myUChicago go to my Account and click on Direct Deposit.
Students who have not signed up for myUChicago Direct Deposit will have a paper refund check generated and mailed to their current physical address entered on myUChicago. If a physical address is not availble the Home/Permanent will be used.
Students who are eligible may receive a quarterly Stipend Distribution from their Academic Division. The method of your Stipend distribution is dependent on your citizenship status.
Domestic Citizens/Residents- May receive their Stipend Distribution via myUChicago Direct Deposit. To enroll in myUChicago Direct Deposit go to myUChicago -> MyAccount and click on Direct Deposit. If you do not enroll your stipend will be issued via paper check to your address in myUChicago.
International/Non-Residents- May receive their Stipend Distribution via Workday UChicago Payroll Direct Deposit. If you are not currently enrolled in the Workday Payroll Direct Deposit system you will be forwarded enrollment information to your UChicago Email. If you do not enroll in Workday Direct Deposit your stipend will be issued via paper check and available for pick up in your academic department.
Sitpend delivery dates are dependent on the disbursement of your funds. Please check with your financial aid office for specific disbursement dates and eligibility criteria.
Refund of Student Account Credit
A refund of Student Accont Credit may also result from account transactions such as adjustments to tuition, fees, and room and board as well as financial aid, scholarships or payments. Refunds generated by cash payments may be held up to 14 days to assure that the funds have cleared.