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 only to checking or savings accounts; therefore, the account number and routing number of the depository bank will be needed (not the debit card number!). Direct deposit refunds are processed every Tuesday and Thursday throughout the calendar year (except on Thanksgiving and during Winter Break).
If a direct deposit account is not created, then a check refund will be mailed to the current mailing address listed on the UNM Record. Check refunds are also processed on Tuesdays and Thursdays (being mailed on Wednesday and Friday, respectively).
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 refund day (Tuesday or Thursday); otherwise, a check refund will be mailed the upcoming Friday. 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 the Bursar's Office and make the request.