What does a negative balance mean on my student account?

Answered on November 3, 2026

A negative balance is good news, not a bill. It means the school owes you money, not the other way around.

Here is how it works. When aid is disbursed, the school applies it to your account first, to cover tuition, fees, and any room and board you contracted with the school. If the aid is more than those charges, the leftover is called a credit balance. On the statement it shows up as a negative number. For example, if your charges are $1,600 and your aid is $3,800, you have a $2,200 credit balance, and it shows as -$2,200.

That money is yours. The school must pay it to you as soon as possible, and no later than 14 days after the balance appeared, or 14 days after the first day of class if the balance was there before classes started.¹² It usually arrives by direct deposit or check, and you can use it for books, rent, food, and transport.

Two things to check if the number looks off. First, a refund line on the statement is money already sent to you, so it is part of the credit balance, not extra. If part of your refund already arrived, the rest of the negative balance is what is still coming. Second, if you signed a form letting the school hold a credit balance for future charges, the school can keep it until you cancel that authorization. Otherwise, if 14 days pass with no refund, contact the bursar or student accounts office in writing and ask when the credit balance was created and when the refund was sent.

This is different from aid arriving in installments. If only part of your award has been paid so far, see what happens when only part of your aid has been paid.