Students who borrow funds for their living expenses will receive periodic refunds by direct deposits to cover these expenses. Representative living expenses include food, housing, utilities, transportation, books and personal expenses. Students have the obligation to budget funds appropriately so they are able to cover their expenses month to month. Some one-time expenses such as a laptop or medical equipment required at the beginning of a course of study are included in the first disbursement of the year. The objective is to ensure that students have the funding for these major outlays as they occur and are not forced to use credit cards.
Through our comprehensive "Sensible Strategies" program, the Office of Student Financial Services provides a variety of resources to assist students with important money management skills; these include budgeting, credit cards, managing your credit, money management for couples and our innovative loan tracking/repayment tool, Loanlook. We are committed to assisting students as they develop strong money management skills. Go to the Sensible Strategies webpage for information on programs, events, and helpful resources.
Direct deposit for financial aid refunds is mandatory. Students requesting an exception to this mandatory requirement must submit a letter to the Director of Student Financial Services explaining the circumstances that make it impossible for funds to be electronically transmitted to the student's personal checking or savings account.
MWU will not be held responsible for any fees or charges that result due to checks written when a student had insufficient funds in an account. MWU is also not responsible for late charges on any past due bills a student may incur. It is the student's responsibility to ensure that the deposit has cleared prior to writing checks.
A direct deposit made in error must immediately be returned to MWU.