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? asked in Education & ReferenceFinancial Aid · 1 decade ago

University Of Phoenix...Please help, Refund of excess funds?

Earlier today on my student account, it was showing a debit memo of 2985.00 and a debit memo of 66.25. Now it is saying a debit memo of only 496.25. what does that mean? I have direct deposit. When should the money be in my bank account? I am getting the full 2985.

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  • 1 decade ago
    Favorite Answer

    If its the first time being deposited it can take around 5-10 business days as the banks will verify everything. After the first time it will take just a couple days or so. Also, keep in mind that since its the holiday season until Jan. 4th most banks are closed a lot and only have maybe 5 business days until then. Also, it could be showing different debit memo's because maybe they were still processing everything. Look to see how much you actually received in your account. Then subtract the cost of 2 blocks of classes from it and the rest should be sent to you.

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