Yahoo Answers is shutting down on May 4th, 2021 (Eastern Time) and beginning April 20th, 2021 (Eastern Time) the Yahoo Answers website will be in read-only mode. There will be no changes to other Yahoo properties or services, or your Yahoo account. You can find more information about the Yahoo Answers shutdown and how to download your data on this help page.
Trending News
If my university financial aid office accidentally issued me 3 checks and I cashed them, are they allowed to take it back?
My university issued me a loan refund of $1,075.00 and send 3 separate check for that amount. I assumed that this was how much I was receiving in financial aid for the semester. I cashed the checks and within a few days I received an email saying that they requested a stop payment on the two checks that were accidentally dispersed to me (a total of $2,150.00). I said that I had already deposited them, and they told me they weren t sure how I was able to do that since they issued a stop payment and to return $2,150 to the university.
Am I required by law to pay them the 2,150 dollars for their mistake of sending the checks? The checks were issued in my name and each check had a different check number.
Thank you.
6 Answers
- nancyLv 75 years ago
Yes. The school is required by law to correct any errors, and if you were overpaid, you are required to repay any amount you were not entitled to receive. Just because there was an error doesn't mean that your eligibility for aid changed, and you are only entitled to keep funds that you were eligible for. If you deposited them in an account, you should be able to withdraw them and repay the school. If you don't have a method for doing that (check or electronic transfer), ask the bank to issue a teller's check for you.
- LaurieLv 75 years ago
Yes, you are required to repay the money. Even banks make mistakes, but that does not allow you to take money to which you are not entitled.
Every semester, the school lets you know how much aid you will be receiving. You knew -- or you should have known -- that they gave you too much money.
They CAN stop payment even after you have deposited them. The bank will simply reverse your deposit.
- 5 years ago
If you do not return the money to the University per their request.... They will charge your account and hold your transcript until the account is brought current.
Do the right thing.... return the money. Good Luck!
- How do you think about the answers? You can sign in to vote the answer.
