USF Refund Policy
In general, all financial aid grants, scholarships and student loans will be reimbursed by any refund until those programs are repaid in full.
The following addresses the distribution of any refund if financial aid funds were received during the term:
- If you received Federal Student Aid the refund will be applied to any repayment amount owed first (see Repayment Policy) and then until all Federal Student Aid funds are repaid in full. This includes retroactive non-fee liable drops approved by the University Registrar when those hours were included in your enrollment status to initially disbursed federal student aid grant funds (e.g. Pell, SEOG, etc.).
- If you were paid a State of Florida Scholarship or Grant (e.g. Florida Bright Futures, Florida Student Assistance Grant, etc.) a refund approved during that term will be applied to the scholarship or grant until it has been repaid in full for that term.
- If you only received a USF Scholarship, or scholarship/grant funds from another State or private agency/organization, the refund may be applied to the scholarship(s) until repaid in full for that term. This depends on the specific guidelines for each program.
- Expired Refund Checks: Federal regulations require institutions that mail refund checks to students to return those funds to the Federal Student Aid programs if the checks are not cashed before they expire. USF checks expire 90 days after they are printed.
If a refund check is returned for a bad address, the Cash Accounting Office (SVC 1038) will attempt to contact the student and re-mail the check if a new address is available.
After the 90th day of the check date, the University Scholarships & Financial Aid Services office is required to return the Federal Student Aid (including student loans) to the Federal Student Aid program. Funds returned to the Federal Student Aid program will not be reissued. Any remaining unclaimed funds may be sent to the Florida Department of Financial Services in Tallahassee as abandoned property.
The best way to avoid this scenario is for students to sign up for eDeposit via OASIS in the Tuition, Fees and Payment link.
NOTE: You may submit a written request to the Office of Financial Aid to have a refund for a corresponding term returned to a particular scholarship, grant or loan program from which you received funds for that term. In certain circumstances, this may allow you to regain future eligibility for specific scholarships or reduce the outstanding principal balance on a student loan.