Refund Schedule & Processing

This Knowledge Base article explains the refund processing schedule, expected timelines, and common reasons for refund delays or discrepancies. It also clarifies how refunds are issued, where checks are sent, and the steps to take if a balance remains after a refund.

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Refund Processing Schedule

Refunds begin processing the week before classes start each term. 
For Fall 2026, refund processing begins August 12, 2026, and continues twice per week throughout the semester. For additional refund timelines visit FAQs.

• Refunds are generally processed on Mondays, Tuesdays, and Thursdays during the Fall and Spring semesters.
  • Refunds processed on Monday apply to credits posted in prior terms. Refunds processed on Tuesday and Thursday apply to credits from the current Fall term.
• Once financial aid is posted to a student’s account, it is applied to the charges on that account. If the financial aid exceeds the account balance, the student will receive a refund for the remaining amount.
  • If Financial Aid approves the refund, it will be posted to the student’s account and issued either by direct deposit (if the student is enrolled in direct deposit) or by paper check.
• Again, all refunds take 3 to 5 business days to be received by the student AFTER they post to the student’s account. 

Refund Amount Differences

If the refund amount is lower than expected, explain that several factors could be involved:

• Some financial aid funds arrive at different times, and funds cannot be refunded until they are received by the university.
• If the account still shows “Memoed Financial Aid,” those funds have not yet been disbursed to ASU.
• Aid is typically split between Fall and Spring terms, and Spring charges are not assessed until late November.

Encourage students to log into Touchnet → View Activity to review charges, posted aid, and pending items.

Credit Balance Policy

A credit balance occurs when a student’s account shows more payments, financial aid, or credits than total charges due.

• Per Federal and State compliance and audit regulations, Appalachian State University cannot hold credit balances on a student’s account to be applied toward a future term.
• All credit balances are automatically refunded to the student.

Refund Process

Refunds are issued through one of the following methods:

• Direct Deposit (preferred method)
  • Students can set up Direct Deposit through the Billing & Payment Center by Touchnet under the Refunds section.
• Paper Check
  • If Direct Deposit is not set up, a check will be mailed to the student’s address on file.

Refund Posting and Timing

When a refund posts to the student’s account:

• Funds are debited from the university’s bank account the following day.
• Checks and Direct Deposits are issued the next business day.
• Students should allow 3–5 business days to receive funds.

Direct Deposit is the quickest and most reliable refund method. 
If a refund has already been processed, it is too late to set up direct deposit for that disbursement, but students should enroll for future refunds.

Refund Delivery Address

If the student has not signed up for Direct Deposit, checks will be mailed to the address listed in AppalNet.

To confirm or update the mailing address:

1. Log in to AppalNet.appstate.edu.
2. Select the Personal Information tab.
3. Choose View Address and Telephone Numbers.

Note: user guide: Set up Refund Address in Appalnet 

Refund checks will be mailed to the first active address in this order:

1. Refund Address (if listed)
2. Enrolled Student Mailing Address
3. Local Address
4. Accounts Payable Address

Parent Refunds: 
Refunds from Parent PLUS Loans are sent to the address listed on the loan application submitted at studentaid.gov.

Refund Posted, but Balance Remains

If a refund appears but the student still shows a remaining balance, explain that:

• The Department of Education limits what types of charges federal aid can automatically cover.
• Certain charges, such as health insurance, parking, or miscellaneous fees, cannot be paid with federal aid unless the student has given Title IV Authorization through the Office of Financial Aid.

Encourage the student to:

• Review their Touchnet Account Activity for any unpaid items.
• Use their refund to pay any remaining balance before spending.