Effective Fall 2012, Iona College has enhanced its delivery of student refunds by providing students with three refund delivery options:

• direct deposit to your checking or savings account
• deposit to a Citibank reloadable debit card
• paper check

Direct Deposit

This option provides the quickest method for delivery of your funds. Students should have bank routing and account numbers ready when enrolling in this refund option.

Reloadable Debit Card

Students have the option of receiving funds on a reloadable Citibank debit card. This card can be used at all locations where debit cards are accepted.

Paper Check

Paper checks are the default method of refund delivery for students who do not actively select the direct deposit or reloadable debit card option. Please note that paper checks will be mailed to the address on file with the College.

To sign up for direct deposit of your student refund to your bank account or Citibank reloadable debit card log in to your Peoplesoft account and follow this path:

• Self Service
• Campus Finances
• View Statements / Make Payments
• Refund Options

SIGN UP TODAY TO SPEED DELIVERY OF YOUR STUDENT REFUND

Students who are due a refund of payments or financial aid funds in excess of their college charges should read the following.

A student should be proactive in ensuring that Iona College receives funds from the various payment sources that are particular to his or her refund situation. The student's account must be paid in full before the college will release a refund. Following are some tips that can help to expedite a refund:

Federal loan and grant funds are sent to us electronically, and will take approximately three to five business days from the disbursement date(s) to reach us. If your loan is arriving as a paper check, it will take approximately ten to 14 days from the disbursement date to reach our office. In most cases, you will be required to endorse the check, so that it can be posted to your student account and begin the refund process.

For all payment sources, you may verify that the funds have been credited to your student account by contacting Student Financial Services or viewing your account statement on Peoplesoft. New York State TAP funds will be credited to student accounts toward the latter part of the semester after eligibility certification has been completed by the College.

Refunds due from an excess of those loans will not be processed until the funds are disbursed to the student account. Students expecting a refund to cover their living expenses should have at least one month's worth of living expenses available prior to the start of classes to cover their expenses until their refund check arrives by mail.

Most students have completed the Title IV waiver and therefore any financial aid in excess of charges for the Fall will remain as a credit balance on the student account. If you would like to override your waiver and request a refund, please do so by completing the Student Refund Request Form.

Students are encouraged to log in to their Peoplesoft account and sign-up to receive their refund electronically. This will expedite access to funds received via a refund on your account as they will be direct deposited to the checking or savings account which you specify. The process takes only a minute to complete and we advise you to have a check or bank statement handy for your bank account number and routing number. Students may elect to receive the refund via a Citibank reloadable debit card or via paper check.

Students are responsible for knowing College policies regarding adding or dropping courses and refund of tuition and fees. Refunds are granted only after the official withdrawal procedure has been completed.