Financial Aid Refunds   A change in timing of financial aid “refunds”.   When students receive more financial aid, including loans, than their University costs, the extra funds are paid to the student (or parent for PLUS loan) as a “refund.”   Beginning in Fall 2008, the University will only “refund” financial aid after it has been received and all student charges have been satisfied.   Refunds were previously issued on anticipated aid (before funds were actually posted to your account). This change moves UAlbany to a more standard practice in higher education, where aid supports students throughout the semester.   The University will accelerate disbursement of aid to process refunds as quickly as possible. However, this new schedule may mean:   ·        Your refund may not be available until the start of classes.   ·        You may receive several smaller refunds, rather than a single large refund.   ·        Your refund will depend on the status of your financial aid, you may not receive the full amount of your refund until two or three weeks after the start of the term.   ·        You will be responsible for paying any additional charges you incur after receiving your refund.     Remember: financial aid, including loans, will now be used first to pay charges. A refund will be issued only if you have a credit after charges are paid.   TIPS FOR STUDENTS EXPECTING A REFUND OF FINANCIAL AID (including loans)   ·        Beginning Fall 2008, financial aid “refunds” will only be issued after aid is received, posted to the account and all charges are paid. Students should be financially prepared to meet any non-University expenses at the start of the term. Some tips to prepare and speed up refund processing:   ·        Be sure you have no holds and your financial aid application is complete.   ·        Regularly check and complete your MyUAlbany “To Do” list items.   ·        External scholarships should be mailed by mid-July to: Student Accounts, Campus Center B-26, University at Albany, Albany, NY 12222.   ·        Sign up for an “e-refund” on epay.albany.edu to transmit your refund electronically to a specified bank account instead of a mailed check.   ·        For students requiring funds for academic purchases, such as books and supplies, upon request University Auxiliary Services will advance up to $650 against your Student Account on a Podium account the first two weeks of each semester.  Visit www.albany.edu/uas for details.   ·        Graduate students with a tuition scholarship should be registered for the total credits covered by the scholarship by July 8 (and December 1 for spring) and consult with the academic department to be sure your scholarship has been posted and paperwork forwarded to Human Resources.   ·        Have sufficient funds for non-University expenses in August and September, (e.g., rent, security deposit).   ·        Get everything done early to avoid unexpected processing problems.