Overage Policy
Beginning Fall Semester 2008, Concordia has modified the way that it handles the overages that sometimes occur in students' accounts when financial aid funds come in. If you are awarded more aid than is needed to cover your Concordia charges, you may use the excess for living expenses, books, or other costs related to your education. In the past, we required you to request those funds each term. As of September 2008, any overage in your account will be sent directly to your bank or credit union through direct deposit. There is no need to request funds from Concordia.
If you would like Concordia to hold your overage to cover future tuition and fees, you must officially request that we hold your funds. To do that, you need to complete the Financial Arrangement Form for your program. If you have not yet completed this form as part of your orientation, please contact the BEAR Center to receive the correct form.
Concordia is no longer able to disburse portions of your overage to you. You will receive all of your overage unless you indicate that you would like us to apply all of it to future tuition or other charges.
If you have not yet completed the Direct Deposit Authorization form, which is needed to direct your funds to your bank or credit union, you need to do so now with the Direct Deposit Authorization form. You will need to mail it in, because it requires you to attach a voided check or deposit slip so that we get the correct routing number. If you do not have such an account, we can apply your funds to a convenient pre-paid debit card. (See some examples are listed below.) For more information about that option, contact Mary Miller or Sara Stenstrom in the BEAR Center (651-603-6300; bearcenter@csp.edu). The Direct Deposit Authorization form is still needed if you choose this option. The University will no longer issue checks as an option for overages.
This new process will result in the quickest access to your funds. Thank you for your patience during the transition!
Links to some Pre-Paid debit cards:
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