Refunds

Colorado Mesa University issues refunds to students when their account has an eligible credit balance. Common reasons include having financial aid payments in excess of their account balance or credits for dropped courses within the appropriate deadlines for a refund. See Important Dates for add/drop/withdraw deadlines. Refunds are processed daily, and direct deposits hitting bank accounts approximately 48 hours after processing, and paper checks are only issued on Thursdays.

For each term, initial refunds start being processed the week before full term classes begin. Disbursement Day is the Friday before the first day of class. If you add or drop classes, the refund will be processed on Wednesdays. If you are done adding and dropping classes, be sure to notify us in writing if you need us to process these additional funds before Census.

There are three methods for receiving refunds. Direct deposit and paper checks will be issued for financial aid and scholarships. Please see below for more information on these two methods. Direct deposits will hit bank accounts approximately 48 hours after processing. Paper checks are only issued on Thursdays. If the refund is cause by dropping classes and the balance was paid with a credit card, we will refund the original payment method. 

Federal Financial Aid funds apply to the student balance first before other funding in the order they are posted to the account. Parent Plus refunds are the first to be applied to the student's balance. If a refund is due to a parent,  they will be a paper check mailed to the address on the loan application.

Direct Deposit (ACH) Refunds

All students are encouraged to sign up for direct deposit with the bank of your choice. By doing so, refunds will be electronically deposited directly to a checking or savings account of your choosing. Signing up for direct deposit is easy and convenient through your online ePay account.

*Double check your account information for accuracy.

*All future refunds will be made to this account.

When creating an Direct Deposit (ACH) Refund profile in ePay, always verify the bank information you enter to ensure funds are sent to the correct account.  Direct deposits will hit bank accounts approximately 48 hours after processing. Realize that your bank may not post your deposit immediately.

Paper Check Refunds

Checks are printed on Thursdays only. They are available after 11 AM Thursday; a picture ID is required at time of pick-up. Please sign up for Direct Deposit (ACH) Refunds through ePay to receive your funds sooner and avoid lines.

Paper checks will be mailed to the address on file after two weeks if not picked up at the IRIS Desk.

Refund Guidelines 

CMU encourages you to use direct deposit with the bank of your choice.  You are not required to use U.S. Bank or any other specific bank for your refunds or payments. 

To view the contract between U.S. Bank and CMU, click here

Upcoming Disbursement Dates

 

Fall 2018

Financial Aid Applied to Account:  August 10, 2018

eRefund Disbursement Day: August 15, 2018

Disbursement Day: August 17, 2018

eRefund Delayed Disbursement Day: September 19, 2018

Delayed Disbursement Day: September 20, 2018

 

Refunds: Paper checks print Thursdays, Direct Deposit is 2 business days 

 

Financial Aid Disbursement dates may vary depending on your status.

Q. If I signed up for direct deposit, can the college withdraw money for tuition and fee charges?

A. No. Setting up direct deposit to your bank account only gives CMU permission to deposit money you are eligible for through the Student Accounts Office into your bank account.

Q. When do I get my refund?

A. Once you have satisfied all financial aid and/or refund requirements, at the beginning of each semester, refunds are deposited into your bank account on or around the Friday before classes start. If you are on Delayed Disbursement and/or Split Disbursement, refunds are deposited 30 days after the initial disbursement date. If you add or drop classes, upon eligibility, your refund will be processed on Wednesdays.  See published dates above for Financial Aid disbursement.  Financial Aid disbursement may vary depending on your status.

Q. Is there any additional fee for using direct deposit?

A. No. There is no fee for setting up direct deposit.

Q. Once I have signed up for direct deposit, am I able to change to a different account?

A. Yes, you are able to change accounts.  To do so, you will first need to go to ePay.

After completing these steps, you will then be able to add a new direct deposit account.  To ensure the funds go to your new account, the new account must added 24 hours before your refund is processed.  To find out if you have time to update your information, please call IRIS at (970) 248-1177.

Q. Will my refund take longer if I am not using U.S. Bank for my direct deposit account?

A. No. If you are using direct deposit, CMU's processing time is the same for all accounts regardless of the institution you use.  However, each bank and credit union has verifying processing times.  Please contact your bank or credit union for more information.  

Q. I did not get my refund directly deposited to my bank account, why and where is it?

A. This may be due to one of the following reasons:

1.) The banking information that you submitted has an error.

2.) The bank account has been closed.

3.) You did not sign up for direct deposit. Contact Student Accounts for a paper check or to check the status of your refund.

To check your direct deposit bank account information through ePay.

Q. I have applied for a Parent Plus Loan?

A. Parent Plus Refunds will be a paper check mailed to the address on the loan application. If accepted Parent Plus to Student on application, then refund will be processed to the student.

Q. I have withdrawn from school, when do I get my refund?

A. Enrollment deposits and any other refunds, less any outstanding charges, are directly deposited 2 to 3 days after your withdrawal has been processed by Financial Aid and Student Accounts . Refunds cannot be released before that time.  This may take several weeks due to processing volume.