If you have financial aid that exceeds the charges on your student account at the time of disbursement, you will receive a refund, which may be used to pay other educationally related expenses. If subsequent charges are made to your account, after your financial aid has disbursed, you are responsible for paying those charges.
Students have a choice as to how they would like to receive their financial aid refund. Students are not required to open or obtain a financial account through a specific financial institution.
The following are Financial aid refund options:
Direct Deposit
Direct deposit is the electronic transfer of funds to your personal bank account.
Direct Deposit enrollment is available through your myNMSU account and is the university’s preferred way to pay your financial aid. It is also the best way to ensure your aid funds are received in a timely manner. To have your financial aid refunds deposited directly into your personal bank account, please log into your myNMSU account to complete the Direct Deposit Enrollment Form. For additional information and step-by-step instructions, please visit the University Accounts Receivable Direct Deposit webpage or call 575-646-4911.
Paper Check
For students who do not use Direct Deposit, a paper check will be issued. Due to new policies, University Accounts Receivable will only be mailing checks. Checks are mailed out to the Permanent/Home Address listed on your student account that can be updated via myNMSU.
If you receive a refund check from University Accounts Receivable and subsequently lose, mutilate or destroy the check, please visit the University Accounts Receivable Replacement Checks webpage for information on having a check reissued.