I wanted to write a short post and hopefully clarify a few points on refund checks. I know all of you who may be receiving a refund check are waiting anxiously for them, and hopefully this post will give a little insight into when those may be coming.
First off, today is the first day that refund checks will be mailed out and direct deposited. Starting today, refunds will be mailed and direct deposited every Friday for the rest of the semester by our Business Office.
How do you know when your refund will be sent out?
There are a lot of factors that could impact your financial aid refund check. Since this blog is only able to disseminate general information, many of the special circumstances that could delay your refund check cannot be articulated in a blog setting. Also, since specific dates and times have been discussed on this blog in answer to reader questions, some confusion has been generated. In an effort to stem off any additional confusion and give you our best possible assistance, I would recommend to contact our office, have an officer access your specific account, and give you our best possible estimate for when your refund check will be delivered. I can say that our business office's policy is that once your financial aid awards are credited to your account, it will be 10 business days before your refund is actually mailed out.
If you would like, please feel free to contact our office at 864-250-8128 and we will be happy to assist you!
Friday, February 12, 2010
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Has anyone received their refund check today? If so, what time did it post at your bank? My understanding is that if the Business Office released the funds to go to the bank today it may not show up until 2-3 days. Is anyone else experiencing this?
ReplyDeleteI have not recieved my refund at all. My bank show no pending deposits etc... I do not reacll having this problem last semester. Last semester it was in my back by 0900. I have been told that they are transmitting deposits until 1159 tonight and that its up to the bank after that, but I have been told by bank if its not recieved by 5pm then it will not post until Tuesday if the school sent the refund.
ReplyDeleteMy bank had no pending deposits either, I called and they said it would post by midnight as long as it was deposited today, but I see nothing yet.
ReplyDeleteI would say it does not look good for posting today but then again thats my opinion
ReplyDeleteI checked with my bank today also and they advised me there were no pending deposits. I have checked my emails from the FA and they stated they sent the e-check on 2/10/10, but according to the bank that wasn't true because I would have immediate access to electronic fund transfers.
ReplyDeleteThis is my third Technical College and I can assure you that this one is the most unorganized and non-communicating technical college I have ever attended. I realize I started college 20+ years ago but come on, G-ville Tech needs to improve their system,(and they are teaching us how to run a successful business and use business communitcation, makes you wonder who taught them).
Signed,
Financially Broken
my bank has no pendind deposit either
ReplyDeleteI tired talking to the people in the business office and they are very rude
ReplyDeleteThe burning question I have is why are we being told today (2/12) the refunds are forthcoming. Theoretically, it could be months before I, or anyone else awaiting a refund actually receives it! If this represents a change from the past norm, why do we have to wait until the anticipated date of deposit to be told this information? We are told if the Reedy River floods within hours via both email and text message, why the wait for refund information?
ReplyDeletePerhaps the dissemination of information needs to be prioritized. Anyone watching the rain fall knows the river is rising, but we are at the mercy of others to determine when we recieve the money we are being charged interest on.
Since the administrator saw fit not to allow posting of my last comment on this issue, I will try again. Those of you who were in the first batch of refunds sent out to your respective banks will have received a confirmation e-mail from the business office regarding deposit of your refund "E-Check". If you research on the web, the "E-Check" system is different from traditional direct deposit, which is usually done through ACH, and is instantly credited. Rather, an "E-Check" deposited to your bank has to go through the traditional number of business days to clear, similar to a paper check presented to a store for payment that takes several days to be debited from your account. Most stores nowadays process checks electronically and give you back the paper copy, but the transaction is converted into an "E-Check", which, although a bit faster than a paper check, will still take at least 2 business days to clear. Therefore, those of us who had these "E-Checks" deposited yesterday (the 12th), will have to wait until possibly Wednesday or Thursday for the money to actually materialize in our bank accounts. (Due to Monday being a bank holiday). As I stated before in my previous comment which the moderator decided was unfit to post, this is an unfair "bait and switch" on the part of Greenville Tech. Last semester the deposits were done through the traditional ACH system, which is why they showed up instantly. For whatever reason, they have decided this semester to yet again change their processes, only they have not been forthright in letting us know that these deposits will take longer to clear. I spoke to a woman in the business office three times yesterday asking about my deposit, and she seemed to be unable (or unwilling) to give me what ended up being a very clear and straightforward explanation for the delay, once I began to do my own investigative research. Basically, the college heavily encouraged us to sign up for direct deposit, but neglected to tell us that this time it would take the same amount of time to receive the money as if we had waited for a paper check. I certainly hope in the interest of free speech that the moderator will decide this time to post this comment, as I believe it will help to quell the concerns of so many who (obviously, by the comments posted above), are worried about the arrival of their refunds.
ReplyDeleteI don't understand the account summary. The numbers change daily.
ReplyDeleteDoes the amount under refund (without the - in front of the amount) mean the amount I will receive?
If I turn in a loan application today, due to going below required credits last semester, how long does it take to get it certified? When I turned it in I was told it would take just a few days and I would recieve an email. It's been a week and I see no change.
ReplyDeleteThank you
How long does it take for a loan to get certified? I fell below the 6 credit requirement last semester so I had to reapply for my loan. I was told that it should only take a day or two and it has been a week. Thank you.
ReplyDeleteI'm in the same boat. I'd like to know the answer to the loan question. Any input? Thank you for your promt response.
ReplyDeleteWhen your loans are cancelled due to your falling below 6 credit hours, we do require the loans to be reinstated. Depending on the time of year you turn in this application it could take anywhere from one week to 4 weeks. Right now for instance, it is only taking about one week to complete this reinstatement process. Your loan request is sent off to your lender, they process your loan and release the funds back to us, then we transfer them to the Business Office who processes refund checks.
ReplyDeleteI hope this helps.
Thank you for your comment!
I had a class dropped last semester and fell below
ReplyDeletethe required hours for my loadn I reinstated my loan
before classes started. My Lottery money has paid part of my tuition but the remainder is still pending. This is not my first time at Tech. like the previous post this is my second go at college after twenty years things seem to not move as smoothly. I am still waiting for a refund check and this is the last Friday in the month...What is the hold up. This is almost laughable if I weren't so broke.
It's February 26th and still no refund check...part of my tuition is still showing unpaid...What is the problem?
ReplyDeleteIf you did indeed reinstate your loan before the semester began and you still have not received your refund check, I would advise to contact our office and we will need to look into your account to determine the problem.
ReplyDeletePlease contact us at 864-250-8128.
Thank you for your comment!
i would like to say this school is the most unassure about dates for refund. also why do u send out on fri. people have familys can u give me an date of when it would be direct deposit to my account.june 2010
ReplyDeleteWe transfer all financial aid to student accounts on June 7th 2010. Our Business office takes up to 10 business days to process refund checks (or direct deposit). So the first checks and direct deposits should go out around June 18th.
ReplyDeleteThank you for your comment!
When I look at my Financial Aid under the award amount it says that My sub amount is 8.64 and Unsub is 11.23. Could you please help me to understand what this means? I call the loan company and it says that I owe $8,292. So the amount that is on my award letter is the correct amount because I am enrolled in 9 credit hours as per my advisor because of summer being such a short and crammed semester? I noticed a negative amount earlier in the week and now that says 0.00 for my balance due I did recieve a pell-grant. I am still recieving my loans correct? Is this the amount left for the intrest? Because I made sure I had the intrest paid out of my loans.
ReplyDelete