A credit balance results from an over-payment on a student’s account from Financial Aid, loans, or payments received. Credit balance refunds will be processed when a credit actually exists on the student’s account. Financial Aid must be posted to the student’s account for a credit to exist and a refund to be processed. Refunds are processed on Tuesdays and Thursdays, with printed checks mailed on Wednesdays.

Financial Aid Refunds

Financial aid will disburse to the student account no sooner than 10 days prior to the start of classes. Federal financial aid will automatically apply toward current tuition, required fees, and housing charges.

Students can elect to have aid pay other charges on the account (bookstore, library, parking, etc.) once they accept or decline their financial aid awards. If this option is not selected and a refund is generated, keep in mind a student may still owe charges other than tuition, required fees and housing charges.

Options to Receive Your Refund

Refunds may be deposited directly into the student’s checking or savings account or sent as a paper check via US mail.

Direct Deposit

Direct deposit is the preferred and quicker method for receiving your refund. View the video above or follow the steps below to set up your direct deposit.

• To sign up for direct deposit for student refunds:
  • Navigate to myzou.missouri.edu and select the “Financial Account” tile.
  • Select “Log into TouchNet” and click “Proceed to TouchNet.”
  • Before adding your Direct Deposit account, ensure that you have completed your Two-Step Verification in your Security Settings.
  • Once your Security Settings are complete, click on “Refunds” at the top of the screen.
  • Select “Set up New Account” to create a Refund account. Enter your bank account information and select “Continue.”Once complete, your refund account will show up under your Refunds page.
  • Enter your bank account information and select “Continue.” Once complete, your refund account will show up under your Refunds page.
  • Review the information entered in the Refund agreement. If all is correct, select “I Agree.”
    • Once you have direct deposit set up, you will receive an email when your refund has been processed.
    • It then takes approximately three days to transfer the funds to your bank.
• Parents will be able to enter direct deposit information for Parent refunds by following the steps below.
  • The parent will also need to elect to have the refund of excess plus funds going back to them on the plus loan application.
    • Log into TouchNet via the Authorized User portal.
    • Once logged into TouchNet, click “Refunds” in the top menu.
    • Enter your date of birth and the last four of your SSN. Then click “Set up a new account.”
      • The information entered here MUST match the information on your loan application for the refund to successfully process to your direct deposit account.
    • Enter in your bank information and click “Continue.”
    • The refund account agreement will then populate. From here you can print it. Check the “I Agree” box and then click “Continue.”
    • You will be redirected to refunds page to confirm the account has been successfully added.
      • Reminder – For Parent PLUS loans to successfully process to your direct deposit account, the DOB and the last 4 of your SSN MUST match the information on your PLUS Loan Application.

Paper Check

Paper Checks are processed and mailed via US mail every Wednesday. Pending any US mail delays, please allow at least 7-10 business days to receive your check. If you would like to have refund checks sent via US mail, it is also important that we have your correct address. Refund checks will be mailed to the student’s “Permanent” address on file. International students should add a “local” US address for refunds.

To change or verify your address, follow the steps below:

• Log into your myZou Student Center and Select “Personal Information.”
• On the next screen, click “Addresses” on the left-hand side menu.
• From here, you can verify that your permanent address is correct or edit it as needed. It is also recommended that you add a local address if you live in Columbia or if you are an International student.
• On the next screen, please add your new address.
• Lastly, indicate your address type and the date the new address will take effect and click “Save.”