Direct Deposit Instructions

Financial aid refunds are processed after the beginning of each semester to ensure students are in attendance. After financial aid applies to the student account, a direct deposit refund will be processed at the end of the third week of classes if the student has a credit balance on their E-Bill.

See Financial Aid Refund Dates

Federal Title IV financial aid funding cannot pay a previous term balance of more than $200 from tuition or dorm charges between academic years. Students may receive a refund but still owe a balance from a previous term. To avoid holds and late fees, the remaining balance should be paid to the University.

Benefits of Direct Deposit

  • Quick refunds
  • Deposits processed in 2-3 business days to your personal bank account. Refunds by direct deposit will be available twice weekly on Wednesdays and Fridays.
  • Secure delivery
  • Less potential for identity theft and lost checks.
  • Receive a $500 Financial Aid Refund Advance before the semester begins. (This is an early financial aid refund into your bank account to purchase your books and educational supplies; only available to students who have excess financial aid above their E-Bill charges).

What if I don't use financial aid?

Even if you don’t anticipate a financial aid refund this year, you may in future years. Any refund, whether it is from financial aid, a class drop (refund process would need to be done manually), or deposit refunds from lockers or parking cards, would be direct deposited.

How do I sign up?

Before you begin, gather your bank routing number and bank account number. Be sure you are using your account number and not your 16 digit debit or credit card number. Your name must appear on the bank account used for direct deposit or it might be rejected by your bank.

  • Login to Ferris360
  • Search for "Setting Up Direct Deposit for Student Refunds"
  • Click on Start action
  • Enter your 9 digit Bank Routing Number
  • Enter your Bank Account Number
  • Click Checking or Savings
  • Click on SUBMIT
  • Review information and click on I AGREE
  • The screen should read: "Your Direct Deposit information has been changed."