Refunds of Financial Aid Overpayments

Students may be eligible for a refund of financial aid, 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.

Refunds may also result from other account transactions such as adjustments to tuition, fees, and room and board as well as financial aid, scholarships or payments.

These refunds will not be automatically generated. Students may request a refund by submitting an Electronic Request Form or by emailing or calling (773) 702-7086.

Refunds generated by cash payments may be held up to 14 days to assure that the funds have cleared.

Refunds generated by a Parent Plus Loan will be refunded back to the parent unless instructed otherwise by the parent.

Direct Deposit for Student Refunds

The University offers a direct deposit service through which students can choose to have their refunds deposited directly to the checking or savings account of their choice. This service enables quicker access to funds rather than waiting for a check to arrive through the mail.

To sign up for direct deposit, you must register online via myUChicago, the University portal for student services. Should you have any questions, please contact us at or by telephone at (773) 702-7086. NOTE: Only U.S. bank accounts can be used for this service.

The University maintains strict confidentiality will all bank account information.

Paper Check for Student Refunds

Students who have not signed up for direct deposit will have their refund checks mailed to their current address on file. If a valid address is not on file in the student system, a refund will not be processed.

All refunds are made payable the the student (except for refunds of Parent Plus Loans and Monthy Payment Plans) unless instructed otherwise by the student. Refunds to any third party, including parents, will be issued by paper check.