Refunds and Excess Aid
Financial Aid
Refunds
Refunds are the amount of tuition, maintenance, and other charges that are due back if you drop classes or withdraw from UT.
Set Up Your eRefund Account
We recommend setting up your eRefund account so that you’ll receive any excess aid or refunds directly deposited in a safe and timely manner to your financial account.
- Log into your MyUTK account
- Click on “My Financial Information”
- Select “View/Pay Fees”
- Select e-Refunds to set up your account
Receiving Refunds
If you’ve set up your eRefund account, any refunds you receive will direct deposit to your designated account, which allows you to receive it quickly. The availability of the money varies, depending on your financial institution’s policy for receiving and crediting direct deposit.
Your eRefund profile remains in effect throughout your time at UT. If your account changes, make sure to update your profile. Checks that require an endorsement are not eligible for direct deposit. Instead, you will get an email saying the money has been sent to your financial institution.
Excess Financial Aid
Excess aid funds are transmitted on the day of financial aid disbursement (when aid is applied to your student account), but may take longer to appear in your account.
Your financial aid amount is calculated based on the date you withdraw or are dismissed from UT. Any aid you are not eligible to receive is refunded to the appropriate Title IV program. If you have a balance due to this process, you will be responsible for paying that balance to UT.
Refunds generated as a result of a Parent PLUS loan will automatically be refunded to the borrower, not the student. As part of the application process, the parent has the option of requesting refunds be sent directly to the student.
Designate Financial Aid to Pay Other Charges
Your federal financial aid automatically applies to your tuition and fees for the academic year you receive it.
You are allowed to voluntarily authorize financial aid to pay for non-tuition and fees during the current year. You can make this designation when you accept your financial aid.
Refunds FAQs
About Refunds
The university processes student refunds within the first week of the start of each semester. If you have any outstanding fees or fines, the amount of your refund will apply toward those first.
Any remaining refund balance is either sent to your bank account or applied to your debit or credit card, depending on how you paid. Set up a refund profile in MyUTK if you are due to get money back in that account.
Based on the date you drop a course, you may owe a percentage charge for the dropped course. Please refer to our Drop Classes page for dates and charges. Review your account, because you might be eligible for a refund based on the date you dropped the course.
If you withdraw from UT, that does not cancel any fees or charges you have already incurred.
- The Technology Fee, Transportation Fee, and Facility Fee are all mandatory. They are refunded on the same percentage scale as maintenance and tuition charges. The Housing Office determines refunds for housing and meal plans, according to your contract.
- Some fees are nonrefundable including: Deferred Payment Plan Fees, Final/Late Registration Fees, and Late Payment Fees.
All refunds are subject to audit, and UT reserves the right to correct any errors.
Questions?
If you have additional questions about refunds or excess financial aid, please contact One Stop.
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