Refunds & Direct Deposit

General Refund Information

Credit balance refunds typically result from schedule adjustments, excess financial aid, overpayment, or health insurance waivers. Regardless of who paid the bill (except for parent loan refunds designated for the parent borrower, or when refunded to a credit card), refunds are issued in the student's name. Refunds of all eligible credit balances will be processed by Electronic Refund (via Direct Deposit). 

Please note, direct deposit enrollment is required for most student refunds. If an International student does not have a U.S. bank account available for an Electronic Refund, then a Convera (formerly Western Union) wire refund can be processed upon request. 

If the credit balance on the student account is caused by excess financial aid and the student is not enrolled in direct deposit, a paper check for the amount to be refunded will be mailed to the home address on file.

Cancellation/Withdrawal Refunds

A cancellation occurs when a student decides prior to the first day of classes to not attend classes for that semester and the student is fully refunded. A withdrawal happens beginning the first day of class when a student decides to no longer attend and wants to drop all classes for a semester. Any refund is based on a percentage of days spent in class.

Add/Drop Refunds

After the first week of classes, a student will need to fill out an Add/Drop form from the Office of the Registrar. A refund is based on a percentage of days spent in class.

Electronic Refund (via Direct Deposit)

Students are encouraged to set up an Electronic Refund account in the E-Bill System - (E-Bill > Refunds > select Direct Deposit). Baylor University will electronically deposit students' excess financial aid or any other account refunds into a checking or savings account - any bank, anywhere in the US. This is the same safe and secure process that is used to deposit payroll checks. If an Electronic Refund account is not set up, refund checks will be mailed to the permanent home address on file which can take several weeks to be received by the student. If an International student does not have a U.S. bank account available, then a Convera, (formerly Western Union) wire refund can be processed upon request. 

Refund of Title IV (federal aid) Credit Balances

Return of Title IV credit balances will be automatically processed within 14 days of the posting of aid to the student’s account. To eliminate the credit balance, a refund by electronic refund or a mailed check will be issued to the student. The student is the only individual authorized to take ownership of the check. The only exception is for student accounts with Parent Plus loans. During the application and approval process of the Parent PLUS Loan, the parent has the option of selecting him/herself or the student to receive the refund. If the parent selects him/herself to receive the excess funds, a paper check will be mailed to the address listed on the original loan application. If Baylor has lost contact with a student or parent who is due a Title IV credit balance, the school will return the credit balance to the appropriate FSA program/lender.

• Disbursement of all authorized Financial Aid awards occurs up to 10 days prior to the start of class for all eligible students.
• Financial Aid refunds are issued the week prior to class starting each semester for students whose financial aid has disbursed.
• Electronic Refunds will continue to be issued weekly as aid disburses. 
• Title IV refunds can be used to purchase books. Students have the option of purchasing or renting books from the vendor of their choice.

Title IV Credit Authorization

If you have been awarded Title IV financial aid and you have not previously completed the Title IV Credit Authorization, you should complete the authorization process via your BearWeb account by following this path: Student Financial Services > Student Account > Title IV Authorizations. 

Outstanding Checks 

Checks that have not been cashed within 210 days, will be voided and the funds will be returned to the corresponding lender.

If additional information is needed regarding refunds, please contact our office at onestop.web.baylor.edu.