A "refund" is money disbursed to you through your College or University for Financial Aid awards, grants, or other money you are owed. Your college or university may have another name for these funds (for example, a disbursement). Regardless of what it may be called, we work hard to deliver your refunds as quickly and easily as possible. This does not include payroll deposits.
When it come to refunds, you have at least two choices for how you want to receive your money.
First, your college or university identifies which students are eligible for a refund and the amount. Next, a file is sent to us with an identifier for the student and the amount of the disbursement. Your college or university then wires Higher One the total amount for the disbursement and we distribute your refund based on the preference you select.