Web Refund Process
The Automated Funds Return tool allows the user to refund loans to AES through an online automated process, with the option to utilize the automatic debit feature. Refunds completed through the automatic debit feature are posted to the AES system within 24 hours.
Key features of the Web Refund product include:
- Integration with the AES loan disbursement system to reduce data entry
- Ability to query loan disbursements on the AES Loan Origination system, based on Social Security numbers or disbursement dates
- Ability to refund a partial or full disbursement, and select a reason for the refund from a list
- Ability to notate a date for the funds to be reissued to the school
- Ability to submit the request immediately or save for a later submission. In addition, users can see previous requests for the past six months.
- Choice of four options to return the funds: perpetual authorization for automatic debit of funds, one-time automatic debit, school-initiated electronic transfer of funds (ACH) and paper check.
Access the Web Refunds product through the AES School Portal now.
Alec for Schools