Wayne State University

Aim Higher

Receiving Your Award

Financial aid for the academic year is applied in two payments, one half in the fall semester and half in the winter semester. One-semester loans are applied in one payment. Many loans have fees, which are deducted before funds are paid.
 
The earliest that aid can be paid to your student account is the week prior to the official start of the semester. Late financial aid applicants will receive payment after an award is offered and accepted provided other award conditions are completed, such as entrance loan counseling and signing a loan Master Promissory Note.

You have the right to cancel all or a portion of your student loans. To cancel a portion of your loan, complete a Loan Revision Request Form, which is available on the Forms page of our website. To cancel your entire loan, complete a Federal Loan Return Form, which is available on the Forms page of the WSU main campus website. 


When You Will Receive Your Funds

Your financial aid will be credited to your tuition account to pay for your tuition and fees, and board and room charges, if applicable. If you have unpaid outstanding University debts other than tuition and fees, board, and room, you are responsible for paying them from your remaining financial aid, if any. If you want the University to deduct payment for such debts from your financial aid, you must complete a "Title IV Authorization Form."

Work-study earnings are paid biweekly for the hours you have worked in the form of a paycheck. Students employed through work-study earn at least the federal minimum hourly wage.

Wayne State University offers installment tuition payment plans for university debts. Detailed information about the plans is available on the WSU Cashier's Office Website.


What Happens to Excess Aid

A student refund is generated when refundable financial aid or other payments exceed tuition, fees and any residential housing charges.  

Wayne State University issues refunds to students’ accounts once a week. Refunds can be released in two ways:

1.    Direct deposit into an existing U.S. checking or savings account
2.    Paper check mailed to the address on file with WSU

Accounts may be viewed in Academica to determine if a refund has been issued.

Students may enroll in direct deposit by logging into Academica. Select Financial Records, Direct Deposit Student Refunds and follow the instructions. 

Paper checks are mailed to the most current mailing address in Academica, beginning on the first day of the semester and bi-weekly thereafter. Students must keep their address current, as checks are mailed to the most current mailing address in Academica and made payable to the student.  A refund will only be generated if an active address is on file. 

Please Note: Refund checks are not available for pickup.

Beginning July 1, 2016, Wayne State University student refunds will no longer be processed through Higher One. If you currently have a checking account serviced by Higher One, you can continue to utilize it by enrolling in direct deposit through WSU and providing the Higher One routing and bank account information.  Access your Higher One information at myonemoney.com.