Refund Payment FAQs
- Who can receive a refund payment?
- What are the refund payment options?
- How long does it take to get a refund payment?
- What to do if you have not received your refund payment?
- Does the University pay interest on outstanding refund payments?
- What to do if the cheque recipient name or amount is incorrect?
- What to do if your ACORN/ROSI mailing address is incorrect?
- What to do if your ACORN/ROSI direct deposit information is incorrect?
- What to do if your cheque is stale dated?
- What to do if you receive a refund payment and now have outstanding fees?
- Why is my payment returned or recalled instead of getting a refund?
1. Who can receive a refund payment?
Refund payments are issued to the student in Canadian funds. Refund payments are not issued to parents, even if the parents pay the fees. If the student's fees are billed to a sponsoring third party organization or agency any refund payments are issued to the sponsor. If the student’s fees are paid by a U.S. government loan, any refund payments are issued to the government agency.
If a friend or relative makes payment on the student’s behalf and the student decides not to attend the University of Toronto, note that any refunds are issued as a cheque in Canadian funds payable to the student.
2. What are the refund payment options? a) Students should record Canadian bank account information on ACORN/ROSI so that refund payments are transferred directly to this bank account (within 2-3 business days). This is the fastest and most accurate refund payment method.
b) If the student has not recorded Canadian bank account information on ACORN/ROSI, then a cheque will be produced and mailed to the ACORN/ROSI mailing address. The exception is if the mailing address is not in Ontario. The cheque may be held in the Student Accounts Office until the student contacts the office. Cheques mailed to a Canadian address could be received within a week, and within two weeks for International mail. Cheques mailed to the wrong address require a lot of time, expense, and effort to re-issue.
c) Credit card refund payments are not currently available.
d) NO interest or foreign exchange differences will accrue on payments that are eventually refunded, either in part or in full.
e) If there is a credit balance that may be eligible for a refund payment, the refund will be made to the student even if someone else made the fee payment, refer to Making a Refund Request and Refund FAQs.
3. How long does it take to get a refund payment?
Refund payment requests of $10,000 or more, require additional reviews and approvals which will result in longer processing time.
When the refund payment has been issued, you will see the refund payment amount and processing date listed in the REFUNDS section at the bottom of the current session ACORN/ROSI invoice on the ACORN/ROSI Financial Accounts page.
Direct deposit - the refund payment is deposited in your Canadian financial institution bank account within two business days from the processed date on the invoice format on ACORN/ROSI.
Mailed cheques - cheques are produced and mailed daily and should be received within a week within Canada and two weeks for International mail. Please note that these are estimated time frames dependant on Canada Post and the volume of cheques to be mailed and sometimes may take longer. All mail is sent by Standard Canada Post or campus mail if applicable.
Cheques for pickup – Please contact Student Accounts- by phone or email to request a refund cheque for pick-up. From the request date, the cheque will be ready in 48 business hours. Students are advised to call 416-978-2142 to confirm their cheque is ready for pick-up) Refund cheques are available for pick-up every day, however students should contact Student Accounts to verify that the refund cheque has been produced and ready for pick-up. Students are required to present his/her T-card as identification to pick up a cheque.
Award cheques - If your division has requested an award cheque for pick-up, please call to confirm your cheque is ready 416-978-2142. If the request has been issued for mail, students should receive this is in approximately one week from the issue date. If you have entered direct deposit information on ACORN/ROSI, the payment will be deposited in your Canadian financial institution bank account within two business days from the processed date on the invoice format on ACORN/ROSI.
4. What to do if you have not received the refund payment?If you have not received your refund payment in the time period specified above, you can contact Student Accounts at firstname.lastname@example.org to determine the next steps.
a. If a cheque has been cashed you may request an investigation. You must confirm with your bank that the cheque has not been cashed before requesting an investigation. The Student Accounts Office will initiate the investigation with the bank. A replacement cheque will not be processed until the cashed cheque investigation has been completed.
b. If the cheque has not been cashed, then you can request for replacement cheque to be issued. You must fill out a ‘Stop Payment Form”. The replacement cheque can take 2 to 3 weeks from the date the Stop Payment Form has been submitted.
Options for requesting a replacement cheque:
1. The quickest option is for the student to come to the Student Accounts office to complete and sign a form for the lost/stolen cheque.
2. If the student is unable to come to the Student Accounts office then the form will be sent to the student by mail, fax or email to complete and sign. The signed hard copy of the form must be forwarded to the following address: U of T, Student Accounts, 215 Huron Street, 3rd Floor, Toronto, Ontario M5S 1A2 or faxed to (416) 978-2610 or emailed to email@example.com.
3. Upon receipt of the signed hard copy of the form, a stop-payment will be placed on the original cheque and a replacement cheque will be issued within 2 to 3 weeks. The student will be contacted when the replacement cheque has been issued.
4. The student can request to pick-up the cheque at the Student Accounts office or request that the cheque is to be mailed to the correct address. The student should update the current mailing address information on ACORN/ROSI.
5. Does the University pay interest on outstanding refund payments?
No interest will accrue on payments that are eventually refunded, either in part or in full.
6. What to do if cheque recipient name or amount is incorrect?Don’t throw the cheque away or write on the cheque. Contact Student Accounts for instructions. Incorrect recipient names rarely occur but if this is the case, you must change the name on record by providing your registrar’s office with proof of name. The name change will then be recorded on ACORN/ROSI so that a cheque can be re-issued.
7. What to do if your ACORN/ROSI mailing address is incorrect?You should correct the mailing address information prior to making a refund payment request. If a cheque has been sent to the wrong address, you can contact Student Accounts at firstname.lastname@example.org to determine if it has been returned to Student Accounts. If you have not received the cheque within 14 days from the date that the cheque was mailed, you may contact Student Accounts to request a replacement cheque. You must fill out a ‘Stop Payment Form”. A replacement cheque can take 2 to 3weeks from the date the Stop Payment Form has been submitted.
8. What to do if your ACORN/ROSI direct deposit information is incorrect?The refund payment will be rejected by the financial institution and returned to the University within 3-5 business days. At this point, the banking information date on ACORN/ROSI will be terminated by Student Accounts to prohibit further direct deposit transfers to the wrong bank account. Student Accounts will issue a cheque accompanied by an explanatory letter which will be mailed to you. If a direct deposit transfer or cheque has not been received after 10 business days, please contact Student Accounts at email@example.com.
9. What to do if your cheque is stale-dated?Cheques are considered to be staled dated after six months from the date the cheque was issued.
Please notify Student Accounts of any change in address when requesting a new cheque. The cheque should be returned to Student Accounts Office to be reissued within 5-7 business days.
10. What to do if you receive a refund payment and now have outstanding fees?You may choose to return the cheque to Student Accounts, by mail or in person and ask us to redeposit this to your account as payment towards your new balance owing. Please ensure you include your name and student number with the request.
11. Why is my payment returned or recalled instead of getting a refund?In cases where payments exceeded the amount of the student’s tuition and residence fees for the session or no fees were billed, or a payment for student living expenses was made to the University, the University reserves the right to hold payments in excess of the tuition and residence fees for a subsequent session or to return to the sender or to request that the student contact his/her bank to recall the payment.