When a student account has a credit balance where payments and credits exceed total charges due, a refund of these excess proceeds will generally be processed and the excess returned to you by check. This is an automatic process. No action is required by the student.
The refund check will be mailed to you unless you enroll for direct deposit of your check. The refund check is printed by the State of Nebraska. UNL is identified on the remittance advice under "Remark." The refund will appear in the "Charges/Refunds" column on your statement because it is showing that payment has been made for the credit balance.
How does direct deposit work?
The University of Nebraska-Lincoln offers consolidated student account customers the convenience of Electronic Refund Direct Deposit. The electronic refund direct deposit program allows you to have your Student Account refund automatically deposited directly into your personal checking or savings account. Most financial institutions throughout Nebraska and the United States are in the direct deposit network. Once you sign up for direct deposit, the University will send electronically your Student Account refund amount(s) to your financial institution. The University will send you an email notification to inform you of the transaction. You may add, change, or cancel deposit information by completing the enrollment on MyRED.
What are the benefits to direct deposit?
- Not limited to Lincoln and Omaha financial institutions
- Quick and extremely convenient
- Deposit(s) are made automatically without any effort on your part, after your enrollment has been completed
- Safety and confidentiality is assured with electronic transfer to your account
- Absolutely no charge to you for the electronic deposit service
- Amount(s) of your direct deposit(s) will appear on the monthly statement you receive from your financial institution
- Start earning interest on your money immediately when electronically deposited to an interest bearing account
- Avoid long lobby and drive-in lines
- No risk of misplacing your check
- Eliminates the possibility of your check being lost or stolen and forged
- Saves postage costs and avoids delays of banking by mail
What am I agreeing to by enrolling for direct deposit?
The following are the Direct Deposit Terms and Conditions:
I hereby authorize the University of Nebraska–Lincoln (UNL) to directly deposit into the Financial Institution account number listed below, as well as authorize the Institution to post the payment to the below listed account. I authorize UNL to initiate debit entries to below designated account as may be necessary to correct erroneous credit entries and authorize the listed Financial Institution to subtract such entries from the below designated account. This authorization will apply to all student refunds from the UNL Office of Student Accounts. This is NOT applicable for Plus loan refunds payable to a parent.
This agreement is effective on the next refund processing after completion and will remain in force until UNL receives notice of change or cancellation from me. Any notice of cancellation must be received by UNL in such a manner as to afford UNL reasonable opportunity to act on it.I understand and approve the authorization or cancellation as indicated below. The agreement supersedes all previous Direct Deposit information
How do I enroll?
You enroll for direct deposit via your MyRed account. Log in to MyRed and select the "Enroll in Direct Deposit" link found in either the Student Account or Financial Aid tab. Using a check as a guide, you will need to fill in your account's routing number, account number, and indicate whether it is a checking or savings account. That's all there is to it. The agreement is effective immediately upon completion. If you are enrolled in multiple University Institutions: UNL, UNO, UNK, or UNMC, the information you provide is valid for all campuses.