A credit account balance occurs when the posting of all aid (grants, loans, scholarships, and other payments) exceed charges posted to the student's account.

Students are encouraged to use Banner Web to review their student account to determine their account balance.

Students should monitor their account on Banner Web. If a credit account balance exists, the student may request a refund by either going to Xavier South, Room 300 to complete the Refund Request Log, or go to the Fiscal Services website to submit the Student Refund Request Form.

Direct Deposit is the University’s method of disbursing all student refunds, as it is safe, secure and quicker than paper checks.  

• Once the refund process has been completed by the Office of Student Accounts, the funds are deposited in a student’s bank account in 2-3 business days;
• Mailing address problems are eliminated;
• A student does not have to wait for the University to print, fold, and stuff envelopes or wait in line to obtain a refund check;
• A student does not have to wait for the mail service to deliver their check.  There is protection against check theft or loss; and
•  A student does not have to stand in line at their bank to deposit or cash a check.
•  Once the refund process has been completed by the Office of Student Accounts, the funds are deposited in a student’s bank account in 2-3 business days;
• Mailing address problems are eliminated;
• A student does not have to wait for the University to print, fold, stuff envelopes or wait in line to obtain a refund check;
• A student does not have to wait for the mail service to deliver their check.  There is protection against check theft or loss; and
•  A student does not have to stand in line at their bank to deposit or cash a check.

The University can direct deposit to any U.S. financial institution with electronic funds transfer capabilities as most banks participate in the electronic funds transfer network.  A student should contact their bank if they have any questions about the bank’s ability to accept a direct deposit.

Notification will be sent to a student’s University assigned e-mail (xula.edu) account.

If the student does not have a bank account, the student has the option to sign up for the Chase College Checking Account offered by JPMorgan Chase.

A student must complete a Direct Deposit Request Form to participate in the Direct Deposit Program.  Also, the student must attach a voided check that reflects their name with the word VOID written across the check.  A Direct Deposit Request Form is available on the Fiscal Services website at: http://www.xula.edu/fiscal/documents/RefundDirectDepositForm.pdf.   Completed Direct Deposit Request Forms must be provided to the Office of Student Accounts located at  Xavier South, Room 300-B.

A parent who has a Federal Direct PLUS Loan refund will have the refund processed as a check disbursement. Once the Federal Direct PLUS Loan has posted to the student's account, the Title IV System will process a refund within 14 days. The refund will be mailed to the borrower's (parent) home address.

In the event that the PLUS Loan Refund check is to be provided to the student, the borrower (parent) must submit to the Office of Student Accounts, an authorization letter each time a PLUS Refund is processed. An Authorization Letter can be accessed at the Fiscal Services website. All authorizations must contain the student's name and id number, borrower's (parent) name and two contact phone numbers for the borrower. All authorizations letters must be faxed to 504-520-7987 or emailed to stuaccts@xula.edu.

A student should complete a new authorization form and indicate that their banking information is updated. Information about the direct deposit program and the authorization form for students is available on the following link: http://www.xula.edu/fiscal/documents/RefundDepositForm.pdf. The Office of Student Accounts must have an original authorization form to process new or updated requests. Please remember to attach either a voided check or a new Direct Deposit Setup Form (if applicable) from your new bank. The new Direct Deposit Authorization and the Direct Deposit Setup Forms are returned to the Office of Student Accounts, located at Xavier South, Room 300-B.

Electronic Refunds are processed every 14 days.   The refund process commences the week after the add/drop period and is available to the student within two weeks.  Students will normally have their refunds deposited into their bank account within 2-3 business days after the refund process has been completed.  For more information please visit the following link:  http://www.xula.edu/fiscal/documents/RefundDirectDepositForm.pdf.

Students can review their account summary online at www.xula.edu to determine if their refund has been processed.  Processed refunds will have a status listed as either “T4RC, PLRD or RFND.”   If a student has requested a refund, it will be deposited into their bank account by the designated date.  A credit on a student’s account indicates that a refund is available.