Q. What are my choices for receiving my refund?
A. Students can receive their refunds in one of two ways:
Q. Will I get my refund faster?
A. Yes. GSU is implementing this program to get the students their refund as quickly as possible. By participating in the direct deposit program, the student will avoid the time it takes for postal delivery and avoid a trip to have the check deposited or cashed. Refunds will be available in your bank account the same day a paper check will be mailed.
Q. How often will GSU process refunds?
A. GSU will process refunds once per week. Each Friday, funds will be either direct deposited into the student’s bank account or mailed to the mailing address provided by the student.
Q. What if I need my refund to purchase books for classes?
A. A student that has financial aid awarded can use that credit to purchase books at the bookstore on campus if excess funds are available. A student can also use their credit balance to add GFLEX funds for use at the bookstore.
Q. Does the direct deposit program have any effect on my financial aid award?
A. The direct deposit program does not have any effect on the type or amount of aid awarded to students. It is simply a more efficient way to distribute refunds as a result of aid being awarded.
Q. I am ready to sign up! What do I need to do?
A. The steps for a student to participate in the direct deposit program are as follows:
Q. What happens if my direct deposit was returned to the university for invalid
bank account information or if the check returned due to incorrect mailing address?
A. It normally takes banking institutions 2 to 3 business days to return direct deposits to the university. The university will reprocess a check for all direct deposits returned due to incorrect banking information within two weeks. The check will be mailed to the mailing address provided by the student in the Banner system. Checks that are returned in the mail due incorrect address will be held at the Cashier’s Office located in Long-Jones Hall on the first floor. At the end of each fiscal year, all checks that are left in the Cashier’s Office with invalid addresses will be sent to the State of Louisiana or Department of Education as unclaimed property.
Q. Can I set up the direct deposit in my parent/guardian, sister/brother, friend, etc.
A. No, the direct deposit bank account must be in the student’s name. The bank accounts have to be the student’s name.
Q. What address do I update on Banner Web to ensure that my refund check is mailed to
the correct address?
A. Please update the student mailing address on Banner Web under Personal Information. Select Update Addresses and Phone Numbers. Under the Student Mailing Address section, click on current and update the information and click Submit.