Financial aid process to change

A refund meeting was held Tuesday during convocation hours in the Fredrick C. Hobdy Assembly Center. Assistance vice president for Finance Leon Sanders and Financial Aid Director Albert Tezeno introduced students to the new payment process on campus.

The university is moving from placing funds on debit cards to a system of direct deposit and physical refund checks.

The explanation given was that GSU debit cards cost the school $7.50 per student to disburse refunds.

For direct deposit, students can sign up daily between now and the end of the semester in the Payroll office. They must bring a voided check and identification.

Students will be notified through Banner Web that the disbursement will be made to their bank account between 24 and 48 hours before it happens.

Funds will be placed into any American bank of the students’ choice. The university will work with Chase bank.

Chase will help students establish no fee bank accounts, Sanders said. He added that funds could also be placed into credit union

If students opt for the refund check option, the checks will be mailed to the local address listed on their Banner Web accounts, said Sanders.

Sanders emphasized the importance of updating the mailing information to ensure that funds go the appropriate places.

He also warned students that if the checks
are stolen or lost in the mail, it could take up to 25 days for a replacement check to be issued.

The direct deposit shift will not compress the refund disbursement time.

Tezeno reminded students that the university is afforded 14 days to disburse funds.