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Credit Balance Refunds & Book Vouchers

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Credit Balance Refunds

If total payments (not including anticipated financial aid) on a student’s account are in excess of total charges, then the student’s account is deemed to be in a credit balance status.  If a student’s account is in a credit balance status, then a request may be made for a refund up to and including the amount of the credit balance. 

  • All refunds are considered due to the student and are processed as payable to the student with the exception of the Parent PLUS Loan calculation described below. 
  • Any authorization obtained from a student for disbursing federal financial aid funds continues to be valid in subsequent years unless rescinded.
  • Student accounts involving a payment plan are not eligible for a refund until all obligations of the payment plan have been met.

Credit Refunds and the Parent Borrower

Federal Direct Parent PLUS loan funds are first applied to the student’s tuition, fees, room, and board, and, if the parent provides authorization, other educationally related charges. Since the student may receive additional unrestricted aid creating a credit refund subsequent to the Federal Direct Parent PLUS Loan posting to these charges, the refund will go directly to the student.

Any Federal Direct Parent PLUS loan funds that remain after the aforementioned charges have been paid may be refunded to the parent.

Direct Deposit of Student Account Refunds

To expedite the receipt of your credit balance refund, students are strongly encouraged to enroll in direct deposit through their PeopleSoft Self Service account.  This option is only available if your financial institution / bank account is in the United States.

In the event it becomes necessary to revoke direct deposit enrollment, please send a request to sfrefunds@clarkson.edu from your clarkson.edu e-mail account.

Please allow for 10-14 business days for direct deposit enrollment authorization.  If a refund is requested prior to authorization, a one-time paper check will be processed.

Be advised that depending on your bank’s policy and the timing of your refund request, it may take up to 2 business days from the time of processing for availability of funds in your account.

How to enroll in direct deposit

  1. Log into your PeopleSoft Student Center
  2. Navigate to the Finance Section on the first panel and choose Enroll in Direct Deposit from the drop down menu
  3. Click on the Enroll in Direct Deposit Tab
  4. Follow the directions to add bank account information (Be sure to confirm the accuracy of your Bank Routing Number and Account Number) Click Next
  5. A confirmation screen will display to acknowledge receipt of bank account information
  6. Click the Tab “Proceed to Enroll in Direct Deposit”
  7. Use the drop-down menu to select the bank account for direct deposit, Click next
  8. Read the Terms and Conditions agreement, check the agree box, then submit
  9. A confirmation of direct deposit enrollment will display

Please contact your Student Administrative Services Representative if you have questions regarding credit balance refunds.

Book Vouchers

Book vouchers are a resource that a student may be able to utilize to assist with the purchase of their semester books.  Book vouchers can only be used at the University Bookstore.  Student accounts that are in a credit balance status (anticipated financial aid may be included for this resource) and who have completed all of the necessary requirements can request all or a portion of their credit balance to be used as a book voucher to purchase their books at the University Bookstore; this is accomplished by charging the student’s account for the amount of the requested book voucher which will in turn reduce the amount of the credit on the student’s account.

Please contact your Student Administrative Services Representative to request a book voucher.