The Value of Your Refund
What is a refund?
A refund occurs when the combination of financial aid grants, loans, or scholarships exceeds the amount of Direct Charges (Tuition, Fees, Room, and Board). Funds not applied to cover education costs (direct charges) result in a financial aid refund paid to the student.
What is it used for?
Books, school supplies, computers, calculators, cleaning supplies, transportation home for the holidays, miscellaneous personal items, toiletries, laundry, and other necessary living expenses.
What is the refund process?
Not all unused aid returns to the student. For example, Refunds for the Parent Loan for Undergraduate Students (PLUS) will be sent to the parent borrower. Any other refund will be given to the student. When your financial aid posts to your account, we are waiting for the actual funds and approval from the Department of Education before we can issue a refund to you. Refunds are available five business days after you see Fee Refund on your account. Please set up a direct deposit via MyCSU.
What is the difference between disbursement and refund?
Disbursement is when Central State University sends your request for payment to the U.S. Department of Education to receive payment on your account to pay your tuition, fees, room, and board. This process takes 14 days.
A refund is when there is more aid than charges on the account; therefore, the student receives the difference deposited to their bank account.
Spring 2021 Federal Aid Disbursement Date to School Account
March 17 (2nd disbursement for first-time borrowers and spring, only students)
Spring 2021 Excess Aid Disbursement Dates to Student Account (no later than the date listed below)
March 3, March 17, and March 31
April 14 and April 28
Disbursements will typically occur on the second Wednesday of each month, with additional dates added at the beginning of the fall term.
An additional Federal Aid Disbursement Dates to the Student Account may occur for fall and/or spring, as needed.