Financial Aid and Other Account Refunds
A refund of financial aid is processed only when the Student Financial Aid Office has disbursed financial aid monies to a student's account and only after the account balance has been paid in full.
The safest and quickest way to receive a refund is via direct deposit, which is created in the Bursar Account Suite found in LoboWeb. Direct deposits are processed every Tuesday and Thursday to checking or savings accounts only. As such, the account number and routing number of the depository bank will be needed (not the debit card number!). If a direct deposit account is not created, then a check refund will be mailed to the current mailing address listed on the student's UNM record.
ACH and Check payments that are eligible for refund will be processed no sooner than 14 days from the date of which the payment was processed to the bursar account. If a direct deposit account has been created, then the refund will be processed via direct deposit on the next regularly scheduled refund day; otherwise, a check refund will be mailed. If an ACH or Check payment needs to be refunded earlier than 14 days, then proof that the payment has cleared the bank account must be provided.
Credit card refunds are processed once a week starting the third week of the semester. This is to allow students to add and drop without being refunded prior to finalizing their schedule. If you need your credit card refund to be processed sooner, please contact us to make the request.