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Direct Deposit

Direct deposit is the preferred method for receiving your student refund and we offer this service through eRefund. When you sign up for eRefund we will deposit your student refund into the checking or savings account of your choice. The checking and savings account must be a (U.S.) bank account. If you do not have a (U.S.) bank account, you will need to establish one before you can enroll in direct deposit.

Parents receiving a refund from a Direct Parent PLUS Loan: Your refund will be mailed to you at the address you listed on your PLUS Loan application as a paper check.

The benefits of using eRefund include:

  • Quick – You will have access to funds sooner. No more waiting for the mail!
  • Secure – Direct deposit is added protection against theft or time delays for the mail.
  • Convenient – Drexel University will deposit your refund directly into your bank account, and then send notification of the deposit to you via email so you know when the money has been disbursed.
  • Confidential – We maintain the strictest confidentiality regarding your bank account. We will access your account only to deposit money or correct erroneous deposits.

To enroll in eRefund, please have your Drexel Student Identification Number and bank account information ready and follow these instructions:

  • Log in to Drexel One.
  • Click the "Billing and Financial Aid" tab.
  • Click the "eRefunds" link under "Manage Online Billing".
  • Click "Set Up Account" button.
  • Fill out the bank account information.
  • Click "Continue."
  • Review the Terms and Conditions.
  • Click the "I Agree" button.
  • Select "Continue."

Once this has been completed, you will see a confirmation page indicating that your eRefund account has been successfully set up. An email will also be sent to your Drexel email account.