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Overpayments and eRefunds

During your time at Purchase College, you may have over-payments on your account from financial aid or out-of-pocket payments that the college will then process as a refund.

We request you set up an eRefund profile as this is the quickest method to receive a refund.

Refunds (How and when they are issued)

In general, when a student has excess funds (greater than their bill) a refund will be generated to the student if the student’s financial aid caused the refund. Conversely, if a parent PLUS Loan caused the refund, it would be generated as a check to the parent borrower.

Refunds will not be issued until all financial aid has paid towards the semester bill and the bill is paid in full. The last of the funding that arrives in our office to apply to your student account is where your refund will come from. If a student is an Excelsior recipient, their refund will not be processed until the semester ends when the grades are posted and processed by the Registrar’s office.


eRefund profile

An eRefund Profile allows you to link a current checking or savings account of your choice, for direct deposit of your refunds. Once your eRefund Profile is set up, Purchase College will process all refunds into that account as early as 24 hours after the overpayment occurs on your account.

Please note that if you make a payment to your account using a credit/debit card (either online or in person) the payment will be refunded back to the card used to make the payment.