Title: Cash Withdrawal from Student Account
Procedure No: STO-65
Effective Date: 09-01-2009
Issuing Authority: Student Accounts Office
Contact: Student Accounts at tuition@stolaf.edu, 507-786-3296 or 866-640-4702
Last Updated: 09-17-2020
Purpose of Procedures:
To ensure students who are given a cash withdrawal will have a true credit on their account.
Who needs to know these Procedures:
All St. Olaf College students.
Procedures:
If an overpayment is made on a student’s account, whether it is due to a cash payment or a financial aid disbursement, the student may request a cash withdrawal.
If a student’s financial aid has not disbursed, but will cover their balance and leave a credit on their account, the student may withdraw the credit amount from their account. Students with credit balances as a result of anticipated payments (such as a payment plan future installment or anticipated work study funds to be applied to the student’s account) will not receive a cash withdrawal of these anticipated funds. At the time the cash withdrawal request is sent, the balance must be a true credit on the account in order to receive a cash withdrawal.
A student must email tuition@stolaf.edu in order to submit a request to withdraw cash. A student is limited to withdrawing $500 cash per week. Please include your student ID number and the amount of cash you wish to withdraw. Upon approval of your request, you will be notified when your cash is ready for pick up.
If a withdrawal of over $500 is needed, then you will need to complete an online Refund Request through SIS. Cash withdrawal and refund requests are submitted every Monday at 3:00pm and refunds are then received on Friday morning.
If you are picking up cash or a check, you will receive an email from the Student Accounts Office letting you know when it is available.
- A picture ID is required when picking up cash or a check.