Financial Aid Refund Checks

Most students expecting financial aid refund checks this semester will be able to pick them up on March 4, 2010.

Lately we have received numerous questions from students, asking when they can expect to receive their financial aid loan proceeds for the spring semester. This email is to provide you with that date and to give you an understanding as to how this date is chosen.

The Financial Aid Office must wait until the last day of the Add/Drop period to determine who is and who is not registered for the spring 2010 semester. Once the Financial Aid Office receives confirmation of student enrollment from the Registrar's office, the Financial Aid Office will confirm student eligibility for federal funds and request the loan proceeds be disbursed to the school.

If you have you completed your financial aid file and all federal loan requirements, your federal loan funds should be disbursed by the Financial Aid Office on February 23. It can take up to three days to process those funds and post them to your account.

If those federal loan funds generate a credit balance on your student account, you will receive a refund check from the Bursar's Office. It generally takes the Bursar's Office around two weeks to issue refund checks. Therefore, we are expecting to have the refund checks from the February 23 disbursement, by March 4.

Student refund checks are issued every Thursday after 4pm. You will be notified via your BAC e-mail address that your student refund check is available.

If you receive a check, please deposit it right away. If you prefer, you may cash your check at the Sovereign Bank at the Prudential Center. There is no fee to cash your check there. You will be required to present two forms of photo ID; your BAC ID counts as one.

If you do not pick up your check within 14 days, we will mail it to your current address on file with the Registrar's Office. To update that address, please submit a Change of Address form.

Please contact the Bursar's Office at, 617-585-0115 if you have any questions.

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