Timeline for Student Refunds
Towson University is issuing prorated refunds in accordance with University System of Maryland (USM) guidance. Understanding that students and their families have a desire to know when they will receive their funds, we are providing an update on our refund process and timeline.
TU must calculate refunds on an individual, rolling basis given the variability of housing, dining and parking selections, funding sources (employers, financial aid, etc.) and existing account balances. The Bursar’s Office has begun the process of individually calculating each student’s adjustments and posting them to the student’s account with the description COVID-19. After the adjustments and refund are posted, the refund is sent to the state for processing, then forwarded to TU’s partner, Bank Mobile, for disbursement.
We anticipate that students will begin receiving their refunds by mid-April and that all refunds will be issued by mid-May. Students and their families will be able to see when their refund is posted by checking Towson Online Services. After the refund posts, it will typically hit the direct deposit account within five to seven days, be mailed by check within two weeks or be received by the Parent Plus loan holder within three weeks. These typical timelines may fluctuate given the unprecedented volume of refunds being processed by the state.
We ask for your patience as we work to issue thousands of refunds in a fair and timely manner.
For more information on refunds, visit the Coronavirus FAQs. For additional questions not answered on the FAQs, contact the Bursar’s Office at bursar@towson.edu.
Tags: refundCategorised in: Students
This post was written by Gorsuch, Pamela