{"id":22061,"date":"2016-11-03T10:45:15","date_gmt":"2016-11-03T17:45:15","guid":{"rendered":"http:\/\/policies.wsu.edu\/prf\/?page_id=22061"},"modified":"2026-07-01T11:19:22","modified_gmt":"2026-07-01T18:19:22","slug":"bppm-30-98","status":"publish","type":"page","link":"https:\/\/policies.wsu.edu\/prf\/index\/manuals\/business-policies-and-procedures-manual\/bppm-30-98\/","title":{"rendered":"30.98 Direct Deposit of Excess Financial Aid Funds"},"content":{"rendered":"\n<h1 class=\"wp-block-heading wsu-font-size--xxmedium\">University Policies and Procedures Manual&nbsp;(previously Business Policies and Procedures Manual)<\/h1>\n\n\n\n<h2 class=\"wp-block-heading\">Direct Deposit of Excess Financial Aid Funds<\/h2>\n\n\n<div class=\"wsu-row wsu-row--single\" >\r\n    \n<div class=\"wsu-column\"  style=\"\">\r\n\t\n\n<p><strong>UPPM 30.98<\/strong><\/p>\n<p><strong>For more information contact:<\/strong><br>&nbsp; &nbsp;Bursar&#8217;s Office<br>&nbsp; &nbsp;509-335-9711 \/ <a href=\"mailto:bursar.office@wsu.edu\">bursar.office@wsu.edu<\/a><\/p>\n<hr>\n<div id=\"toc_container\">\n<h3>Contents<\/h3>\n<ul>\n<li><a href=\"#One_0\">1.0&nbsp;&nbsp; Overview and Purpose<\/a><\/li>\n<li><a href=\"#Two_0\">2.0&nbsp;&nbsp; Requirements<\/a>\n<ul>\n<li><a href=\"#Two_1\">2.1&nbsp;&nbsp; Refund of Excess Financial Aid<\/a><\/li>\n<li><a href=\"#Two_2\">2.2&nbsp;&nbsp; Requesting Direct Deposit of Refund (TouchNet)<\/a><\/li>\n<li><a href=\"#Two_3\">2.3&nbsp;&nbsp; Process and Timeline<\/a><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/div>\n<h3 id=\"One_0\">1.0&nbsp;&nbsp; Overview and Purpose<\/h3>\n<p>Washington State University is subject to federal regulations that limit which charges may be automatically paid using financial aid. When the Bursar\u2019s Office receives financial aid funds for a student, the funds are applied to current-term charges, such as allowable outstanding tuition, mandatory fees, and University-contracted housing. Any remaining (excess) financial aid funds are refunded to the student.<\/p>\n<p>This policy ensures that any excess financial aid funds are refunded to students efficiently, securely, and in accordance with federal requirements.<\/p>\n<h3 id=\"Two_0\">2.0&nbsp;&nbsp; Requirements<\/h3>\n<h4 id=\"Two_1\">2.1&nbsp;&nbsp; Refund of Excess Financial Aid<\/h4>\n<p>Refunds are issued either by direct deposit or by paper check mailed to the student\u2019s primary mailing address on file in the University Name and Address File (see <a href=\"https:\/\/policies.wsu.edu\/prf\/index\/manuals\/business-policies-and-procedures-manual\/bppm-90-70\/\">UPPM 90.70<\/a>). Students may update their&nbsp;primary mailing address by editing <strong>Main Menu &gt; My Profile<\/strong> information in&nbsp;<a href=\"http:\/\/my.wsu.edu\/\"><strong>myWSU<\/strong><\/a>. Checks mailed to an invalid address will not be cancelled and re-issued for a minimum of ten working days.<\/p>\n<p>The Bursar\u2019s Office disburses refunds of excess financial aid beginning one week prior to the start of the term.<\/p>\n<h4 id=\"Two_2\">2.2&nbsp;&nbsp; Requesting Direct Deposit of Refund (TouchNet)<\/h4>\n<p>To receive financial aid refunds by direct deposit, students must enroll in <strong>TouchNet Direct Deposit<\/strong>. Enrollment is completed online through the <strong>TouchNet Student Account portal<\/strong>, which is accessible from <a href=\"http:\/\/my.wsu.edu\/\"><strong>myWSU<\/strong><\/a> (see <a href=\"https:\/\/bursar.wsu.edu\/touchnet-refunds\/\">TouchNet Refunds<\/a> for more information).<\/p>\n<p>Students must enter valid U.S. checking or savings account information for a U.S. bank or credit union. Students are responsible for ensuring that their bank information is accurate and current.<\/p>\n<h4 id=\"Two_3\">2.3&nbsp;&nbsp; Process and Timeline<\/h4>\n<p>Once TouchNet Direct Deposit is established, excess financial aid funds and other eligible refunds are transmitted electronically to the student\u2019s designated bank account. In most cases, funds are available <strong>within three business days<\/strong> after the refund transaction appears on the student\u2019s online account. Students should verify that funds have posted to their bank account before initiating financial commitments.<\/p>\n<p>Students may monitor refund activity and account balances through the <strong>Student Finances<\/strong> section of&nbsp;<strong><a href=\"http:\/\/my.wsu.edu\/\">myWSU<\/a><\/strong> or directly within the <strong>TouchNet Student Account<\/strong> system.<\/p>\n<p>TouchNet Direct deposit remains active until the student updates or removes their bank information through the TouchNet Student Account portal.<\/p>\n<p style=\"font-size: .8rem\">_______________________<br><strong>Revisions:<\/strong>&nbsp; July 2026 (Rev. <a href=\"https:\/\/policies.wsu.edu\/prf\/bppm-manual-revisions\/bppm-revision-657\/\">657<\/a>); May 2009 (Rev. 341); Feb. 2005 &#8211; new policy (Rev. 256).<\/p>\n\n<\/div>\r\n\n<\/div>","protected":false},"excerpt":{"rendered":"<p>University Policies and Procedures Manual&nbsp;(previously Business Policies and Procedures Manual) Direct Deposit of Excess Financial Aid Funds<\/p>\n","protected":false},"author":1061,"featured_media":0,"parent":50633,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_wsuwp_accessibility_report":null},"wsuwp_university_location":[],"wsuwp_university_org":[],"_links":{"self":[{"href":"https:\/\/policies.wsu.edu\/prf\/wp-json\/wp\/v2\/pages\/22061"}],"collection":[{"href":"https:\/\/policies.wsu.edu\/prf\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/policies.wsu.edu\/prf\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/policies.wsu.edu\/prf\/wp-json\/wp\/v2\/users\/1061"}],"replies":[{"embeddable":true,"href":"https:\/\/policies.wsu.edu\/prf\/wp-json\/wp\/v2\/comments?post=22061"}],"version-history":[{"count":27,"href":"https:\/\/policies.wsu.edu\/prf\/wp-json\/wp\/v2\/pages\/22061\/revisions"}],"predecessor-version":[{"id":70819,"href":"https:\/\/policies.wsu.edu\/prf\/wp-json\/wp\/v2\/pages\/22061\/revisions\/70819"}],"up":[{"embeddable":true,"href":"https:\/\/policies.wsu.edu\/prf\/wp-json\/wp\/v2\/pages\/50633"}],"wp:attachment":[{"href":"https:\/\/policies.wsu.edu\/prf\/wp-json\/wp\/v2\/media?parent=22061"}],"wp:term":[{"taxonomy":"wsuwp_university_location","embeddable":true,"href":"https:\/\/policies.wsu.edu\/prf\/wp-json\/wp\/v2\/wsuwp_university_location?post=22061"},{"taxonomy":"wsuwp_university_org","embeddable":true,"href":"https:\/\/policies.wsu.edu\/prf\/wp-json\/wp\/v2\/wsuwp_university_org?post=22061"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}