Students may not carry a credit balance from one semester to another, unless the credit balance is the result of a housing or trip deposit for a future semester.
After all charges are applied to the student's account, those with a remaining credit balance will be refunded automatically. Any charges incurred after the refund is mailed will be due on the next billing cycle. Those not paid by the due date printed on the statement may incur a monthly late fee.
Receipt of Refunds:
CTX Students are encouraged to use direct deposit (ACH) to receive refunds of credit balances from their student accounts. Students can set up and edit direct deposit instructions through their MyInfo account. Please allow 1 business day before the relative refund date for the change to be processed.
- Sign on to MyInfo.
- On the "Student" tab, click on "Update Direct Deposit for Refunds."
- Enter the routing and account number of the financial institution and deposit account you wish to use and indicate whether this is a checking or savings account.
- The system defaults to setting up only the instructions for reimbursement. To use this information for payroll as well, click the relative check box.
- Continue through thee screens until you receive a confirmation that your change has been successful.
- You will receive an email confirmation to your Concordia.edu address nothing the change.
To change direct deposit instructions:
- Click on the Student Tab.
- Click on "Update Direct Deposit for Refunds".
- Click on the blue hyperlinked Bank Name of the account you wish to change.
- Click the "Inactive" check box and then press Save.
- Add the new bank information in the "Add Allocation" section of the form, indicate Payroll or Accounts Payable (refunds) as applicable, and press Save.
- Confirm through the remaining screens until you receive confirmation that your changes have been made.
You will receive an email at your CTX email address confirming all changes to your direct deposit information.
Occasionally we receive notice from the bank that deposit information you entered is incorrect or has changed. We will make changes to your deposit information as instructed by your bank, and notify you of those changes through your CTX email.
Refunds will be paid within 14 business days of the receipt of funds that created a credit balance on the account. You will not receive a refund for loan funds until your loans are actually disbursed to Concordia University Texas from your lender.