std impact - student success

Refunds

Refund resulting from Withdrawal

If you withdraw officially from the University, your refund is subject to the
University Withdrawal Policy.

Refund resulting from Financial Aid

If the receipts of your Financial Aid (scholarships, loans, grants, etc.) results in a credit balance, a refund check in your name will automatically be mailed to you, unless you have signed up for
Direct Deposit.

Note: TITLE IV aid (Stafford, PLUS, PELL, SEOG, etc.) can credited towards institutional charges and
Non-institutional charges such as finance charges, late payments fees, etc. Please note a TITLE IV Authorization form must be signed to cover miscellaneous charges.

Students receiving Title IV aid who withdraw completely may be billed for remaining WSSU account balance resulting from the mandatory return of funds to the U.S. government.

Contact Financial Aid for more details.

*Overpayment or cancellation of a charge will result in a refund will being processed for you.

 

Fastest Way to Receive Your Refund

Direct Deposit  is the fastest and most secure way to receive your refund. By electing this option, a student's refund will be directly deposited into their checking account, at the financial institution of choice, which will ultimately be faster than waiting for the check to arrive in the mail. Get started & Do it Today!  

How Do You Benefit From Direct Deposit? 

  • No lost or stolen checks or delay with the mail
  • No running to the bank to deposit your funds and waiting for the check to clear
  • No special arrangements or fear of not receiving your money because you’re not at home, studying abroad or not moved into your apartment yet.
  • No frustration! You’re in control!

Disadvantages of Getting Your Refund by Mail

  • Check may be misplaced or lost in the mail
  • Possibility of family members or others forging and cashing your check
  • May not clear in your bank for several days
  • No ease of access
  • Unsecured


Parent Refunds

Credits that are the result of a Parent PLUS loan will be refunded directly to the student or parent. If the parent, the borrower of the loan, wishes to have the refund check made payable to them, during the application process they must check the appropriate box on the Parent Plus Loan Application  when applying for the loan. Likewise, if the parent would like to have the funds made payable to the student they must indicate so by checking the appropriate box on the application. This form is to be completed and turned into the office of Financial Aid.


Title IV Funds Authorization

Federal guidelines allow for Federal Title IV funds (Pell Grant, SEOG, Stafford Loans, Perkins Loans and Parent Plus Loans) to automatically be credited only toward current tuition and fees plus on-campus housing and meal plan charges. The guidelines additionally allow students to authorize charges such as traffic and library fines to be deducted from these funds, as well as prior term charges up to $200. Students may also authorize Winston-Salem State University to retain excess Title IV funds in their student accounts, in which case such funds will be applied toward future charges.

Winston-Salem State University is required to have signed authorization from you in order to use Title IV funds for miscellaneous charges. By signing this form, your account charges will be deducted at the time your financial aid is placed on your account. Importantly, this will help to prevent an “account hold” for unpaid charges, which would block you from registering for future semesters, obtaining grades and transcripts. This authorization form will be valid for the entire period in which you are enrolled; however, this authorization may be rescinded at any time.

**Please note that we will not hold student refunds for more than 14 calendar days because of the potential financial penalties that will incur to the school. Subsequently, WSSU cannot incur any interest on student refunds, therefore, does not want to hold student refunds longer than the required processing time**

Winston-Salem State University

601 S. Martin Luther King Jr. Drive

Winston-Salem, NC 27110

Phone: (336) 750-2000



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