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Advance Payments/Overpayments

University of Illinois policy on student account overpayments is as follows:

• Overpayments less than $5,000: Unless otherwise requested, University Bursar posts the full payment to the designated student’s account and holds the credit balance on the student account for 10-15 days then refunds the credit balance via direct deposit to the student’s designated bank account. Note, some overpayments must be sent back to the method of payment - credit cards, international payments, etc.

• Overpayments of $5,000 or more: Unless otherwise requested, University Bursar posts the full payment to the designated student’s account and holds the credit balance on the student account until the first day of the next semester. Note, some overpayments must be sent back to the method of payment - credit cards, international payments, etc.

• To hold an overpayment on the student account longer than the first day of the next semester, University Bursar requires written notification, designating the student’s name, University Identification Number (UIN), and semesters for which the payment is intended. Please email Accounts Receivable Operations at aroperations@uillinois.edu. 

 

Please Note: If the student receives Federal Financial Aid after University Bursar has posted the overpayment to the student’s account, University Bursar cannot guarantee the overpayment will be held. The overpayment may be refunded along with any Financial Aid refund the student receives, even if University Bursar has received written notification to hold the overpayment for future semesters.