Per federal regulations, refunds are released no later than 14 calendar days after your financial aid disbursement posts to your account and all applicable university charges have been paid. The Office of Student Accounts will disburse financial aid to students after the Office of Student Financial Aid determines eligibility and authorizes disbursement.
Eligibility before Disbursement
Before disbursing Federal Student Aid funds, the Office of Student Financial Aid will make sure that you have completed all necessary steps in the financial aid process and any other steps required by the lender of any loan you have accepted. Disbursements are based on the number of credit hours you are enrolled at the time disbursement is processed. For loan programs, you must be enrolled at least half-time at the time of disbursement. Your Pell Grant will be prorated based on your enrollment at the time of disbursement.
A financial aid credit balance occurs after the university charges are paid in full, a refund will be generated through the Office of Student Accounts that can be used to pay for other costs associated with your education. Visit www.sutton2.mvsu.edu to check your student account.
How is Aid Disbursed?
All financial aid is disbursed in two installments. One half of the total is disbursed each semester and applied toward the charges on your student account (tuition and fees, room and board, and/or other university charges). Any transaction in which a financial aid credit exceeds the university charges for the term will generate a refund.
How will I receive my refund?
Beginning May 2014, all student refunds will be processed through Higher One. Each registered student will receive a My One Debit MasterCard at their current mailing address to let Higher One know how you would like to receive the refund. Choose the option that best fits you - Higher One checking account, Deposit to another account or paper check.
When can I sign-up for refund disbursement?
A student can sign up for refund disbursement at www.MyOneMoney.com once they receive the My One Debit MasterCard in the mail.
What is the fastest way to receive a refund?
The fastest way to receive your refund is to choose the same business day deposit to a Higher One checking account. Money deposited to the account the same business day funds are released by the University to Higher One.
How can I check my account balance?
Log in to www.sutton2.mvsu.edu or visit the Office of Student Accounts in Suite 155 of William Sutton Administration Building. No student account information will be discussed over the telephone. The Federal Family Educational Rights and Privacy Act (FERPA) prohibits MVSU from disclosing a student’s financial aid status without the student’s written consent.
Will I have an option to receive a refund check from MVSU?
No. All student refunds are processed through Higher One, not on campus.
May I have my refund deposited directed to by checking or savings account?
Yes, the refund option of a personal checking or savings account is available once you sign up at www.MyOneMoney.com. With this option, money is deposited in two to three business days.
For further questions concerning the deposit of your refund through either refund options, please call student customer service for Higher One at 1-877-327-9515 or visit www.MyOneMoney.com.
It is necessary that all MVSU students receive an MVSU student e-mail address and check it periodically.