Refund Payment FAQs
1. Who can
receive a refund payment?
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.
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.
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.
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
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.
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.
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
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 email@example.com 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.
requesting a replacement cheque:
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 firstname.lastname@example.org.
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
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?
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?
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?
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 email@example.com 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?
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 firstname.lastname@example.org .
9. What to
do if your cheque is stale-dated?
considered to be staled dated after six months from the date the cheque was
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?
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.