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Financial Aid Refunds

 

What has changed about financial aid and other refunds at PSU?

Beginning with the refunds for Winter Term 2005, PSU no longer disburses financial aid paper refund checks from the Cashier's Office.

Portland State University students will be mailed a new multifunctional student identification card, called the PSU OneCard, shortly after registering for classes.

With the PSU OneCard, financial aid and other university refunds are delivered to you in the way that you choose. Once you receive your new PSU OneCard, you must log on to www.PSUOne.com to activate your card. Activation is required to access campus services and to obtain financial aid and other refunds from the university. Therefore, it is important that you activate your card immediately upon receipt to avoid any delays in campus services.

What happens if I never activate my PSU OneCard and I am due a financial aid disbursement or other refund?

You will be sent an e-mail notification indicating that PSU has processed a refund for you. It will advise you to log on to www.PSUOne.com to activate your card and select your refund method. Failure to activate your card and select a refund method will result in a delay in receiving your refund.

What options are available for receiving refunds from the university on your PSU OneCard?

When activating your card, you may choose one of the following options regarding your refunds:

  • You may have funds direct deposited to an existing bank account of your choice,
  • You may have a paper check mailed to the address you select, or
  • You may activate the OneAccount checking account, an FDIC insured bank account. Refunds will be direct deposited into the OneAccount checking account and may be accessed through your ID card.

What are the advantages of having my financial aid disbursement or other refund direct deposited into my OneAccount checking account?

You can choose to access your monies quicker and easier than ever before by electing to have your financial aid or other refund deposited directly into your OneAccount checking account via an Easy Refund. The OneAccount checking account is an FDIC-insured bank account that has no monthly fees and no minimum balance. When money is deposited into your account, you will receive an Easy Refund e-mail confirmation. Then you can use your PSU OneCard as a debit card to access your money or make purchases anywhere MasterCard Debit is accepted. In addition, you will be able to see the details of your OneAccount by accessing your statement at www.PSUOne.com .

What happens if I select to have my financial aid disbursement or other refund direct deposited to an existing bank account?

You must activate your PSU OneCard and select the option to have your monies directly deposited into an existing bank account. You will then be required to complete Third Party Form on-line (available at www.PSUOne.com ) then print, sign and drop off the form in Neuberger Hall or mail it to the address indicated on the form. When Higher One receives the form and your monies are made available by PSU, your funds will be deposited into your designated bank account in 1-3 business days. To avoid a delay in receiving your disbursement, it is important to activate your card and choose a refund option immediately upon receipt of the card.

What if I select to have my financial aid refund disbursement or other refund mailed to me as a paper check?

You must activate your PSU OneCard and select the option to have a paper check mailed to you. Once PSU makes the monies available, Higher One will mail a check to the address you designate within two business days. Depending on the mailing time, your check should be delivered to your address within 5-7 business days. Be aware: refund checks are not forwardable by the US Postal Service. In addition, risks associated with any check in the mail may include loss, theft, and fraud. To avoid a delay in receiving your disbursement, it is important to activate your card and choose a refund option upon receipt of the card.

How do I change my refund preference?

You may change your refund preference by logging into your PSU OneCard account at www.PSUOne.com . From the menu bar at the top, select Profile, Financial Aid Refunds, and scroll down to Refund Preferences to change your selection. Then click the Update button at the bottom of the page. That's all there is to it! Remember, if you choose ACH direct deposit to an existing bank account, you must follow the directions to complete the deposit form online, print, sign and mail the form to Higher One or deposit in the drop box in Neuberger Hall. Please note that your change of refund method will take effect with your next refund disbursement.

Is there a maximum amount I can withdraw on a daily basis through my PSU OneCard?

Yes, there is a maximum daily ATM withdrawal of $500 and a maximum limit of $2,500 on any signature-based debit card transactions.

What happens to my refund if I have an outstanding financial obligation at the University?

Obligations to the University (excluding Housing) will be deducted prior to disbursing your residual financial aid.

What happens if I incur charges at PSU after my refund is processed?

You will receive a billing statement if any additional charges are incurred after your financial aid refund is processed. You are responsible for payment of these charges by the published due date.

What if I have questions concerning other refunds?

Please contact the Student Accounts Office at (503)725-3440 or (800) 547-8887, ext. 3440.

What if I have questions concerning the use of the card?

Please visit www.psuone.pdx.edu . If you prefer, you may stop by the ID Card Services office located in the Neuberger Hall Lobby, Windows 7-9, Mon-Thu from 9:00am-5:30pm or Friday from 9:00am-5:00pm, or telephone 503-725-8333. You must obtain a separate access card for Stephen Epler Hall or The Broadway buildings.

What if I have questions concerning my PSU OneCard options?

PSU OneCard questions should be addressed to a representative at Student Financial Services (503) 725-3440 or to the Higher One Customer Service Department by calling toll free (877) 778-7781.