Refunds

Frequently Asked Questions About Refunds

FAQ IconHow do I set up my refund option?

  1. Go to http://access.smu.edu
  2. Click on Self Service > Student Center > Under Finances (lower left side of screen)
  3. Click My SF eSpace.
  4. Complete process to enroll for ACH

I closed my account. What do I do now?

  1. Go to http://access.smu.edu
  2. Click on Self Service > Student Center > Under Finances (lower left side of screen)
  3. Click My SF eSpace.
  4. Go to accounts under My Profile Tab click on Remove.

What happens if I change banks?

  1. Go to http://access.smu.edu
  2. Click on Self Service > Student Center > Under Finances (lower left side of screen)
  3. Click My SF eSpace.
  4. Go to accounts under My Profile Tab click on Add Payment Account.

When will I receive my refund?

If the proceeds from student loans have been received by SMU prior to the first day of class, and the student is eligible for a refund, the Office of the University Bursar will automatically begin processing refunds for mailing at the time the proceeds are posted to the student's tuition account. Federal regulations state that the earliest date a refund can be processed, if the funds are on the tuition account, is 10 days prior to the first official day of class.

Additionally, federal regulations require SMU to process refunds within 14 calendar days from the first day of class of a student's primary academic career. If loans are received after the first day of class, please allow 14 days from the date the proceeds are applied to the tuition account for a refund to be issued.

After a refund has been processed ACH refunds are received within 48 Business Hours. Non ACH refunds are mailed and should arrive within 7-10 business days. The easiest and fastest way to receive a refund is signing up for ACH.

What happens if I don't have ACH (direct deposit) set up?

A refund check will be mailed to your Home address. If your Home address is Inactive, the refund check will be mailed to your Mailing address. If the refund check is not received, a replacement refund check will not be issued until three weeks after the original check was mailed. At that time, a stop payment will be requested and a replacement refund check will be issued.

Who does the refund go to?

All refunds, except parent PLUS loans and the SMU Monthly Payment Plan, will be made payable to the student when a credit is due. If the refund is issued by check, the student may request in writing that the refund be sent to another party. Any outstanding debts to the University will be deducted from the credit balance prior to issuing a refund check.