How Refunds are Calculated


Refunds of excess payments are released as follows:

  • All excess Federal Direct Loan and/or Federal PLUS loan payments, plus up to $600 in other excess financial aid, is released to the student's account no sooner than 10 days prior to the first day of the term.
  • All Title IV  returning students that meet all eligibility requirements at least 10 days before the start of a payment period and whose disbursed funds would have created a Title IV credit balance will receive a refund no later than the 7th day of the payment period.  The amount of the refund will be the lesser of the amount of the presumed credit balance or the amount needed to purchase books and supplies as determined by Youngstown State University.
  • All remaining excess payments are released to the student account on or after the 14th day of the term.
  • Refunds are sent by direct deposit to the student’s bank account.  A direct deposit profile (Create a Refund Profile) can be set up via the Penguin Portal.  If you elect to have direct deposit of refunds, please be sure to keep your bank information up-to-date to avoid any delays in receiving your refund. Not setting up direct deposit will delay your refund.

Refunds are processed everyday by direct deposit and once a week by check.

Financial Aid is earned by attending classes. If you fail to attend any classes, then you are not entitled to any financial aid that you may have been awarded.