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A credit balance is the result of 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 in order for a credit to exist and for a refund to be processed.

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 of excess financial aid proceeds 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.  However, paper refund checks are only printed weekly on Tuesday nights, unless Tuesday is a holiday.  (For fall and spring semesters, during peak seasons 10 days prior to first day of regular term classes to 2 weeks after, refund checks will be printed nightly.)

Direct Deposit

Direct deposit is the preferred and quicker method for receiving your refund.

  • To sign up for direct deposit, go to the Student Center in myZou self-service pages, scroll down to the Finance section, and click on the Manage Direct Deposit link. 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.
  • Please note: The direct deposit set up within myZou is only for a student’s refund. The bank account to which the refund is being applied must include the student as owner or be a joint account which includes the student’s name. At this time, we do not have a system for direct deposit of Federal Parent Loan refunds into the parent’s bank account.

Paper Check

If you want to continue to have refund checks sent via US mail, it’s important that we have your correct address. To check or change the address we have on file, go to the Address section at the bottom of your myZou self-service page.

Leaving Credit on Your Student Account

If you have a credit balance on your account and you want to leave that credit balance on your account, such as in anticipation of future charges, you may contact the Cashiers Office by email at or by phone at (573)882-3097. You will be required to complete authorization to leave credit on student account requesting the credit be held on your student account.