Financial Aid Refunds
Students whose financial aid is more than the charges on their student account will receive the excess funds,referred to as a “stipend” (sty-pend), to pay other educationally related expenses.
- (in the form of a check) will be mailed by the Student Account’s Office to your current address as listed on SIS;
- may be picked up at the Cashier’s Window (261 UPAV);
- can be direct deposited into a students savings or checking account. Students must sign up for the e-Refund option on SIS in order to take advantage of this option.
If a parent borrows through the PLUS Loan program, they have the choice of having the PLUS loan stipend mailed to them or released to the student.
If subsequent charges are made to a student account after a stipend is received, it is the responsibility of the student to pay them.
What expenses can be paid for with the stipend funds?
Students can use the stipend funds to pay for any of the following educationally related expenses.
- books and supplies
- other miscellaneous expenses
How to purchase books with stipend funds
Students have several options when using stipend funds to purchase books.
- Students may take the check from the cashier's office directly to the bookstore to purchase books. Please note that the bookstore requires that a student use at least 50% of the amount of the check on textbook purchases before they will accept the check as payment.
- If the stipend check exceeds what the bookstore will cash the student may take the check to a financial institution and cash the check or deposit it into an account and use those funds to purchase books.
- Stipend funds direct deposited into a student's saving or checking can be used to purchase books.
NOTE: there is no voucher system set up between the university and the bookstore. Books must be paid for with cash, check, or credit card. Please check with the bookstore to review their purchasing policies.