Policy Author:
Student Accounts, Business Affairs
Responsible Office – Department:
Student Accounts, Business Affairs
Effective Date of Policy:
March 5, 2026
Refunds are processed to students when there is a credit balance on an account and all financial aid and/or loans have been received and applied to an account. Refunds are processed weekly, beginning after mid-semester.
The Office of Student Accounts will notify students when a refund is being processed for them. Students do not need to request a refund.
To ensure the most efficient processing of refunds, students are advised to configure a refund profile within their Self-Service student finance account. For those who qualify for a refund but have not yet set up a direct deposit profile, an instructional email will be sent to their Daemen address. This correspondence will provide guidance on how to receive funds via a debit card or by printing a paper check directly from the email.
Due to regulatory requirements, students receiving a refund from a PLUS loan will still receive a paper check by USPS mail, made payable to the student and the co-signer on the PLUS loan.
If the Office of Student Accounts fails to reconnect a student with their credit balance then it will be remitted to New York State Comptroller as unclaimed property after three years. Funds can then be claimed from New York State.
Students are responsible for ensuring their address is current with the Registrar’s office. Students are also responsible for ensuring their electronic refund profile information is kept current. Daemen University does not collect or retain banking information from our students. All such information is maintained by a third-party service provider.