In all cases, you are responsible for paying the balance due after financial aid has been disbursed. Disbursed financial aid that exceeds your balance owed to the university is considered excess funds (residual funds). KSU has contracted with a company, HigherOne, to handle all student refund services. If you are a new student, you will receive a mailing from KSU and HigherOne outlining the steps necessary to process your refund. This will include a debit card that you will need to activate your account. You must select an option for receipt of your excess funds. The options are to transfer excess funds to your bank account, to a free HigherOne account or to receive a paper check. For more on HigherOne, visit the Bursar’s Office webpage.
If your award is for more than one semester, you will likely be issued your aid at the beginning of each semester after FA Census date. Your award notification shows the amounts that will be disbursed to you each semester.
If you receive excess funds as a result of a change in your registration status (enrolled hours, residency, housing), please be aware your financial aid will be re-evaluated and you will be responsible for repaying any funds that you were not eligible to receive.
Institutional funds received for the current semester cannot be refunded once the next semester’s charges are assessed on a student’s account. Instead, the funds will be applied against the next semester’s charges, and therefore, reduce the balance owed in the next term.