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.  Financial aid refunds are computed daily.

Direct Deposit

Direct deposit is the preferred and quicker method for receiving your refund. Click here to see how to set up direct deposit, or follow the steps below:

• To sign up for direct deposit, go to the Student Center in myZou and click on the Financial Account tile. On the left side of the screen, click on “Log into TouchNet” and then click on the “Proceed to TouchNet” button. Click on “Security Settings” on the right to set up your 2-Step Verification. Once that’s set up, click on “Refunds” in the top menu bar and then click on the “Set up a new account” button. Enter your banking information and click “Continue”. Click on “I agree” and then “Continue” again. You will now see the account in the “eRefunds” section.
• 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 Plus refunds by following the steps listed above starting after you are in TouchNet. The parent will also need to elect to have the refund of excess plus funds going back to them on the 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.

Click here to see how to change or verify your address, or 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.”