Refunds

Financial Aid Refunds

Refunds are processed regularly for financial aid payments that exceed your account balance.

Students can use an existing bank account to receive a refund for a credit balance on their WMU student account. Students can set up an electronic refund account at GoWMU by selecting the Payment and Account Information link. Once at that site, select refunds and enter your bank account information, routing and transit number.

Students may change the bank account that is linked to their WMU refund account at any time on this site.

There are no refund account options preselected for students. There is a PNC Bank branch office on campus, but students are not required to open an account with this financial institution. The fees associated with a PNC Virtual Wallet Student account can be viewed at: pnc.com/vwstudentsummary 

The agreements between the Board of Trustees of Western Michigan University and PNC Bank can be viewed at:

PNC Bank and WMU Second Amendment to Lease

PNC Bank and WMU Third Amendment to Lease

If no WMU refund account is set up for a student, a check will be issued.

Overpayment Refunds

Refunds are processed regularly for overpayments from non-financial aid sources and credit balances after the drop/add period. *

Students can use an existing bank account to receive a refund for a credit balance on their WMU student account. Students can set up an electronic refund account at GoWMU by selecting the Payment and Account Information link. Once at that site, click on the Refunds to enter your bank account information, routing and transit number.

Students may change the bank account that is linked to their WMU refund account at any time on this site.

There are no refund account options preselected for students. There is a PNC Bank branch office on campus, but students are not required to open an account with this financial institution. The fees associated with a PNC Virtual Wallet Student account can be viewed at: pnc.com/vwstudentsummary

The agreements between the Board of Trustees of Western Michigan University and PNC Bank can be viewed at:

PNC Bank and WMU Second Amendment to Lease

PNC Bank and WMU Third Amendment to Lease

If no WMU refund account is set up for a student, a check will be issued.

A refund check will be made out and mailed to the parent if it was created from a parent PLUS loan and the parent borrower requested the refund.

*If the credit balance is created from an overpayment made by check or electronic check, the refund will not be processed for at least 20 business days to allow time for the check payment to clear the bank. If the credit balance results from a credit card payment, the credit card will be refunded.

Frequently Asked Questions on Refunds

Disclosures

  1. Total consideration paid in the period July 1, 2015 through June 30, 2017: Branch rent: $39,095.80 and ATM Rent: $129,600.00. Total: $168,695.80
  2. Total number of customers holding student financial accounts which originated under the contract from July 1, 2015 through June 30, 2017: 4,005
  3. Mean student costs: $23.26 in the year ended June 30, 2017
  4. Median student costs: $.95 in the year ended June 30, 2017

Short Virtual Wallet Student Disclosure

The Short Virtual Wallet Student Disclosure provides "the major features, commonly assessed fees."

Detailed Virtual Wallet Disclosures

The Details Virtual Wallet Disclosures provide "the URL where the terms and conditions of each account may be obtained."

The Virtual Wallet Fineprint defines the relationship between the account holder and PNC Bank. It helps them understand their account and provides insight into procedures at PNC that impact their account.

The PNC fees-vw-A PDF provides full details of fees applicable in Delaware, Florida, Illinois (excluding Boone, Cook, DeKalb, DuPage, Kane, Kankakee, Lake, McHenry, Will and Winnebago Counties),Indiana (excluding Jasper, Lake and LaPorteCounties), Kentucky, Maryland, Michigan, Missouri, New Jersey, New York, Ohio, Pennsylvania, Virginia, West Virginia, and Washington D.C. markets.

The PNC fees-vs-B PDF provides full details of fees applicable in Alabama, Georgia, Illinois (Boone, Cook, DeKalb, DuPage, Kane, Kankakee, Lake, McHenry, Will and Winnebago Counties only), Indiana (Jasper, Lake and LaPorteCounties only), North Carolina, South Carolina and Wisconsin markets.