Financial Aid Credit Balances
A credit balance occurs when your financial aid and/or payments exceed the charges on your student account.
There are three types of refund methods.
- Nelnet, our third party vendor who refunds by:
- Direct Deposit (the fastest method)
- Deposit to a reloadable credit card
- Paper Check by mail
- Refund to a credit card
- Northwest University Check
Refunds are generally calculated on a weekly basis. Friday is the cutoff date. On Tuesday, refunds to credit cards are processed and non-credit card refunds are sent to Nelnet.
Once Nelnet receives the refund file from the University, an email is sent to the student to confirm their method of refund; direct deposit, reloadable credit card or paper check. If the student has not chosen a preferred method, the refund will be sent by paper check. The refund schedule is as follows.
Direct Deposit - available in 2-3 days
Reloadable Debit Card - available in 2-3 days
Paper Check (Default) – delivered in 7-14 days
Signing Up for Nelnet
To sign up for Nelnet and have your refund sent to you by direct deposit, deposit to a reloadable credit card or a paper check, log onto your Eagle Account and click on “Manage Refunds”. From this site, you can enter your preferred method of refund. We encourage you to use direct deposit as that is the quickest way to receive funds.