Update: April 30, 2020, 3:10 p.m.
Dear Students and Families:
We are writing today to provide an update on our work toward finalizing financial adjustments to student accounts due to the COVID-19 pandemic and related changes to campus housing and remote instruction this semester.
In our letter on March 27, we shared with you that efforts were underway—based on guidance from SUNY System Administration—to begin processing applicable prorated adjustments to student accounts. Over the past month, staff members from Residence Life, Financial Aid, Student Accounts, and Information Technology have worked tirelessly to put procedures in place to process the adjustments while ensuring students’ financial aid packages and eligibility were not jeopardized.
We are pleased to report that our work is nearly complete. Starting May 14, you will begin to see adjustments being made to your student account. Credits resulting from the COVID-19-related charge adjustments will first be applied to any outstanding Spring 2020 or prior term account balance(s). If there is credit remaining after all outstanding balances are paid, a refund will be generated based on these adjustments. You will receive your refund soon after the credits have been posted. We understand the importance of getting these funds returned to you and will work expeditiously to make that happen. Students who may be eligible for a refund are encouraged to enroll in direct deposit, https://studentaccounts.buffalostate.edu/refund-money-faster, as that will be the quickest way for students to receive their respective refunds. Absent a direct deposit on file, a refund check will be issued and mailed to the student's permanent address. Paper checks may take a few weeks to be processed and mailed.
Students who have borrowed a student loan and are eligible to receive a refund will have the opportunity to make a voluntary payment toward their loan balance, thus reducing the amount to pay back when repayment begins. Students can log in to their FSA account at the U.S. Department of Education Federal Student Aid website to view their outstanding federal student loan balances and to find information about their loan servicer(s). Loan servicers should be contacted and payments would be submitted directly to them.
As a reminder, we have prepared guidance on our methodology for the spring 2020 adjustment process. We encourage you to review this information.
Thank you for continued patience and understanding on this matter. We wish you the best of luck as you complete your coursework this semester.
Be well, Bengals.
Vice President for Finance and Management
Vice President for Student Affairs
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