E-Refund is the term used for a free service we offer to our students which allows you to receive your student account refund via direct deposit. Enrolling in E-Refund is a preemptive measure; you can enroll at any time, even if you do not currently have a refund.
When you have more money in your student account than you do charges, the result is a balance owed back to you.
For instance, if you are accepting student loans with the intention of receiving some of those funds to purchase your school supplies, the loans will first disburse to your student account and be applied against your tuition charges. Any amount that remains after your tuition and relevant charges are paid in full will be your money to do with as you see fit. Your selection of “enroll” or “decline” in E-Refund will tell us how & when you would like to receive these funds.
Here is a breakdown of the selections and what they signify:
Enroll: You request that we send you the refund via direct deposit. You must provide us with the bank account information so that we may refund you to any account of your choosing. We process E-Refunds on a weekly basis. If you wish to have your refund be direct deposited to your parent’s (or anybody else) bank account, you can enter their account information on their behalf, as nobody has the ability to designate this field but you, even if you have set up a parent pin.
Decline: You request that we hold any funds owed to you until the end of the school year, and we will mail a check for the total refund to your permanent address. This option can benefit you if you have a credit balance in the fall semester that you wish to count as a payment towards your spring semester. This option will instruct us to hold your refund from the fall term to the spring term, but we will require specific requests directed to the Office of Student Accounts if you would like your refund held from the spring semester until the following fall semester, as this will entail holding funds in your student account while you are not attending over the summer.
If you do not make a selection: Not making a selection is an unsatisfactory response, as we will have no instruction from you regarding your refund. However, we are bound by law to refund federal funds to you in a timely manner. Thus, you will be called to the Student Accounts office to collect a check. At that time, you will be asked to sign a document stating that you have declined this E-Refund service.
You may change your option to Enroll or Decline at any time.
In the event that the bank account you provided for E-Refund is not correct, or is not eligible for direct deposit for any reason, the refund we process will bounce. The office of Student Accounts will be notified by Cornish’s bank shortly after the refund is returned. Cornish will then suspend your E-Refund Account and send you an email stating that you need to review the routing and account numbers. As soon as you have updated & saved the new account information in E-Refund, your E-Refund will be reactivated and your funds will be sent to you in the next batch.