Refunds
Students may receive a refund if they have a credit balance on their ACORN account. This can occur for various reasons, such as dropped courses, fee exemptions, or other adjustments that result in an overpayment. A credit balance will appear on your current invoice in ACORN as the “ROSI Account Balance Up to the End of the Session”. A credit balance does not automatically guarantee a refund, as additional requirements may apply.
Below, you will find important information on eligibility, the refund process, and how to submit a request.
Who Can Receive Refunds?
Credit Balances in ACORN are refunded to students, governments, or third-party sponsors in Canadian Funds.
Refund payment will be made in Canadian funds directly to the student unless the refund involves payments from third-party sponsors or government student loans.
How to Request a Refund
Refund requests can only be submitted by students. Here are the steps to check your eligibility and submit a request. Please review the instructions carefully to ensure a smooth refund process.
To be eligible for a refund, you must meet the following conditions:
- Your credit balance is $100 or more.
- Your credit balance does not include academic or residence deposits.
- Your credit balance is the result of a payment you made or was made on your behalf.
- Your credit balance is not a prepayment for study permit purposes as an international student.
- Your credit balance is not a payment you made in excess of your account balance or intended for living expenses.
- Your credit balance is not the result of a third-party sponsor payment, staff or dependant tuition waiver credit.
- There are no pending charges, scholarship or award cancellations affecting your balance.
- You are not waitlisted for courses.
- You have cancelled your registration, after dropping your final course.
- There are no pending credit card chargebacks or bank payment recalls.
Refunds may be refused if eligibility conditions are not met or fee assessment errors are identified during the refund approval process.
Refunds may be refused if the credit balance results from OSAP payments or U.S. Loans, as these require additional review by the Financial Aid office and may be refunded back to the loan provider.
Refunds may be refused and may be required to be recalled by your bank, returned to the original bank and payee, or held for future studies if the payment exceeds the amount of fees billed on your ACORN invoice. If payments exceed the amount for fees billed on your ACORN invoice for the session, no fees were billed, or a payment for living expenses was made to the university, the university reserves the right to:
- Hold payments in excess of tuition and residence fees for a future session or
- Return the payment to the sender or
- Request that you contact your bank to recall the payment
For example: a tuition prepayment was made, and the student has a change of plans and does not attend the university.
Keeping your personal information updated is crucial for ensuring your refund is processed promptly and securely. It is important to keep both your mailing address and Direct Deposit updated.
Set-up or update your Canadian Bank Account in ACORN.
- Log into ACORN and select ‘Profile and Settings’ and Direct Deposit
Need help?
Follow ACORN’s How-to step-by-step instructions (with screen shots), or follow along in video format
Add or edit your mailing address in ACORN. Your mailing address is where you live during the academic year, and where you would like to receive official mail from the University.
- Log into ACORN and select ‘Profile and Settings’ and Addresses
Need help?
Follow ACORN’s How-to step-by-step instructions (with screen shots)
If you need further assistance, please submit a ticket through the Service Portal.
To request a refund, choose the right refund form for your financial situation.
OSAP (full-time) Students Refund Request Form
- Once submitted, your request will be reviewed to determine the amount of the credit balance that can be refunded directly to you.
- The credit balance review is typically 4-6 weeks and may be longer at the start of the term or due to the nature of your OSAP file.
- When the refund status in ACORN changes to ‘decision completed,’ check ACORN in 3-5 business days for updates.
All Other Students Refund Request Form
- Once submitted, you will receive an email from the Enterprise Service Centre. You will be able to monitor your ticket or add additional comments.
- The response time is typically 7 business days. The start of term may have longer processing times. Refunds over $15,000.00 require additional approvals, thus longer processing time will apply.
- Monitor the REFUNDS section in ACORN for updates.
Receiving a Refund
Your ACORN invoice will indicate whether the refund was issued by Direct Deposit or Cheque.
Looking for the fastest refund?
Direct Deposit is the best option if you are looking for the quickest way to receive your refund. Follow the steps below for more information.
If direct deposit information is recorded in ACORN, the refund will be deposited directly into your Canadian bank account. Refunds by direct deposit are deposited in your bank account within 2-3 business days from the refund date on your ACORN invoice.
To review and change your direct-deposit information see Set Up or Update Direct Deposit above.
It is your responsibility to:
- Ensure your bank account information in ACORN is correct and up to date.
- Verify your bank account information with your bank before you enter/update the details in ACORN.
- Enter your bank account number, this is not the same as your debit card number.
- You will need three numbers, your three-digit institution number, the five-digit transit number and your account number. If the information from your online banking page is not complete, check with your bank to confirm full details.
- The ‘Expiry Date’ in ACORN is the date when you want the University of Toronto to stop depositing funds directly into your bank account. Use a future date, a minimum of 30 days in the future.
- By recording your bank account details in ACORN, you authorize the University of Toronto to deposit refunds or payments into the account at your financial institution. This service applies to any type of refund or payment issued to you through your student account (e.g., scholarships, bursaries, tuition or residence refunds). This authorization remains in effect until the expiry date recorded in ACORN. The University of Toronto is not responsible for payments made to incorrect accounts and will not reimburse students for funds lost due to incorrect information.
If a direct deposit is returned to the University, the funds will be credited back to your ACORN account. The incorrect bank account information will be removed. You will receive a message through the Service Portal informing you of the return. You should consult your bank to confirm the correct bank account details, enter the correct information in ACORN, then request another refund.
For step-by-step instructions, see Set Up or Update Direct Deposit.
If you do not have direct deposit set up in ACORN, your refund will be mailed to the mailing address indicated in ACORN. All refund cheques are issued in Canadian funds and are valid for 6 months from the issue date.
Please ensure you have updated your mailing address in ACORN under profile and settings.
Refund cheques are produced on the first Wednesday after the refund date indicated on your ACORN invoice.
- Allow 2-6 weeks to receive your refund cheque from the refund date on your ACORN invoice. Mailing takes longer to process and depends on location (Canada vs international).
- Cheques are mailed by Standard Canada Post or Campus Mail (if applicable). Refer to the Canada Post delivery guidelines for when you can expect to receive your cheque.
- It is your responsibility to record an accurate mailing address in ACORN before you make your refund request. Ensure you enter your complete address (for example, unit, apartment, and mailbox numbers, if applicable). Here is a helpful video on how to change your address, you can also find instructions on the ACORN How-to web page under the Profile & Settings section.
In exceptional cases, you can request to pick up a refund cheque. Send a refund request through the University Registrar’s Office Request a Refund Form.
You will receive a notification when your cheque is ready for pick-up. Cheques are picked up from the University Registrar’s Office during business hours. You must bring your T-Card or government issued photo identification.
To apply your credit balance to future session fees submit a request via the Service Portal and provide the amount and session. Without a request, credit balances will be reviewed in the automatic refund process.
Credit balances do not automatically register you in upcoming sessions. You must seek manual registration if your credit is equal to or greater than the “Minimum Payment to Register” amount displayed on your ACORN invoice. Contact your college, faculty or campus registrar’s office during the enrolment period to request manual registration.
If your status does not update to “Registered,” your sessional registration status will become “Financially Cancelled.” Your ACORN course enrolment will be cancelled, and you will be removed from your classes.
Interest on Credit Balances
Your student account does not work like a bank account. No interest is paid on credit balances retained in your student account.
Automatic Refunds
If a credit balance exists on your ACORN account and you do not submit a refund request, the University will review your credit balance and may automatically process a refund. You must be registered for direct deposit to receive a refund through this automatic refund cycle process.
Timing
Automatic refunds are usually processed at specific times during the academic year:
- Fall Term: End of October
- Winter Term: End of March
- Summer Term: End of June
Refunds may be issued automatically outside of these periods at the University of Toronto’s discretion.
Unclaimed Credit Balances
If a credit balance remains on a student’s account seven years after their last registration, the credit balance will be written off.
Issues With Your Refund | What to do if…
Review the following refund issues that you may experience, and how you can resolve them to receive your refund.
If you have not received a cheque in the timelines indicated above, report a lost or missing cheque by:
- Login to the Service Portal. Complete and submit the Stop Payment Form.
- Select whether you want a replacement cheque, direct deposit to your bank account, or to apply the funds to your ACORN account.
- You will receive an email from the Service Portal and a requested item ticket to track the progress. The replacement process usually takes 2-3 weeks.
If your bank details in ACORN are incorrect, update them in ACORN under “Profile and Settings” immediately.
In cases where the direct deposit transfer is rejected and returned to the University of Toronto:
- The University Registrar’s Office will be notified of rejected direct deposit transfer within 3-5 business days.
- The funds will be applied to your ACORN invoice and appear under REFUNDS as a Refund Credit to Re-Issue.
- Students will receive an email notification from the University Registrar Office’s Service Portal.
- The incorrect bank account details will be deleted in ACORN, and you will be requested to update your bank account details in ACORN to request your refund again.
If the funds are not returned to the University, please follow up with your bank for further assistance. The University of Toronto is not responsible for payments sent to incorrect accounts and will not reimburse students for funds lost due to incorrect information.
Cheques are considered stale (expired) six months after the issue date. Here’s how to request a new cheque:
- First, review your mailing address and/or direct deposit details by logging into ACORN and locate the “Profiles and Settings”. If they are not the most current, update them.
- Submit a ticket and attach a copy of the stale-date cheque in your possession.
- You should receive the new cheque within 2-3 weeks. Deposit the cheque as soon as you receive it to avoid another stale dated cheque.
- Please mark the front of the stale-dated cheque as VOID and securely destroy it.
If the name on your refund cheque is incorrect, here’s how to request a new one:
- Update Your Name: Cheques are made payable to the name as it appears in ACORN. If your name is incorrect, see the Name Changing Guidelines on how to update your name.
- Set-up Direct Deposit: Instructions can be found on the ACORN How-to website. Under the “Finances” section, refer to “Manage Direct Deposit Information.”
- Submit a Ticket via the Service Portal to request a new cheque or direct deposit.
Frequently Asked Questions (FAQs)
- Submit a ticket through the Service Portal and attach a copy of the cheque in your possession.
- Uncashed cheques can be cancelled and applied as credit to your current account balance.
Refunds may be refused and may be required to be recalled by your bank, returned to the original bank and payee, or held for future studies if the payment exceeds the amount of fees billed on your ACORN invoice. If payments exceed the amount for fees billed on your ACORN invoice for the session, no fees were billed, or a payment for living expenses was made to the university, the university reserves the right to:
- Hold payments in excess of tuition and residence fees for a future session or
- Return the payment to the sender or
- Request that you contact your bank to recall the payment
Depositing a cheque can be done in several ways, depending on the financial institution you use. Be aware of the bank’s processing time and policies. Some deposits may take a few business days to clear.
If you’re unsure about the specific process at your bank, check with your bank’s customer service for more detailed instructions and assistance.
Resources
Have questions about refunds? Submit a ticket through the Service Portal, and our team will be in touch.