Direct deposit is the encouraged method for issuing refunds to students having accounts with a credit balance.
A credit balance on a student account is typically created as a result of excess financial aid remaining after all eligible charges on an account have been paid in full. A credit balance may also result when withdrawing from a course during a refund period. If the account has been previously paid in full, the entitled refunded charges are applied as a credit to the student account, in turn, creating a credit balance on the account. In both cases, the credit balance is distributed (refunded) in the form of a payment to the student.
Direct Deposit means you will receive your refund faster, with the refund being electronically credited to your financial institution, instead of waiting for a refund check and having to take the check to your financial institution. This convenience is very secure and is provided to students at NO COST.
Direct Deposit also supports NMSU’s Sustainability initiative to Reduce, Reuse and Recycle by supporting the reduction of environmental resources used and reduced need for university financial resources when generating the payment to the student.