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Cashier Polices & Information


Student Account Refunds

If a student has a credit balance (negative amount) on their account, they may be eligible to receive a refund.

MSU Denver encourages students to enroll for direct deposit refunds (directions listed below).  Once enrolled, refunds will be sent directly to the student’s bank account.  Direct deposit refunds are released daily.  However, it can take up to 2 business days for the receiving bank to process and have funds available.  It is the student’s responsibility to update direct deposit information.  Once a direct deposit account is active it is to remain in full force and effect until MSU Denver receives written notification to terminate the direct deposit authorization.

Students who are not enrolled in direct deposit will receive a refund check in the mail.  Students are not allowed to pick up refund checks.  Checks will only be mailed once per week on Thursday.  It is the student’s responsibility to make sure their address is updated to ensure that checks are mailed to the correct address.

 

Credit/Debit Card Refunds –

Any credits resulting from a card payment within 30 days of the original transaction may be refunded back to the card.

 

10-Business Day Hold –

If a credit balance is the result of a check payment, MSU Denver reserves the right to hold the credit for 10-business days to ensure the payment successfully clears the bank. 

 

Parent Plus Loans –

If a student has a credit balance resulting from a Parent Plus Loan, a refund will be processed based on the refund options selected on the Parent Plus Loan application.

  1. If the parent elected to receive the refund, a paper check will be issued to the address provided on the application. No parent refund will be processed via direct deposit.
  2. If the parent elected for the student to receive the refund, the refund will be processed as a paper check to the student address or the direct deposit information on file.

Returned Check

Any check payment refused by the payer bank for any reason is subject to a $17.00 returned check fee.  In addition, a hold restricting payment method will be placed on the account.  This hold will not be release until the total amount is repaid.  MSU Denver reserves the right to require payment by cash, money order/cashier’s check or credit card as repayment for a returned check.


Cash Management Policies

Information in the files below provide guidance on cash management policies for MSU Denver staff and faculty. If you have any questions regarding these policies, please feel free to contact us and we will be happy to assist you. 


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