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What does a negative account balance mean?

calinycaliny Registered User Posts: 4 New Member
University of Maryland, College Park:

I have a negative account balance. What does that mean?

So on one column on my account it shows the charges that adds up to $4,753.81. Next to it is listed "credit" that totals to $8,165 (which is money from grants and it also includes my $400 enrollment deposit). On the bottom it shows my total account balance which is -$3,411.19. What does this mean? Are they going to send me a check for that amount or do I owe that amount? Would I be able to use that amount for books?

Replies to: What does a negative account balance mean?

  • simba9simba9 Registered User Posts: 3,156 Senior Member
    You don't owe that amount. It's money you still have available for your educational expenses.

    I doubt they're going to send you a check for $3,411.19. You're going to have to call the school's finance department (or whoever deals with that kind of thing at Maryland) to see exactly how you can use the money. I'd guess it will sit in the account to be applied to future expenses, e.g., next semester's tuition.
  • BrownParentBrownParent Registered User Posts: 12,776 Senior Member
    So you received more financial aid that billable expenses to date. Check to see if the fees listed are for the semester or the year. Usually you will get billed for the semester and get just the grant aid for the semester. You will have new charges and credits for the spring semester.

    If there aren't any other Direct expenses to be billed then you get to use that money for your Indirect expenses such as books, personal expenses and transportation.

    Check the information available or online for the Bursar's office. They will indeed issue a check usually, but a better way to get the funds is to find out if they do direct deposit, you can usually fill out some form with your bank information and get a deposit. If you set that up, future disbursement of your 'refund' is easy.
  • calinycaliny Registered User Posts: 4 New Member
    Thanks for your help guys!
  • simba9simba9 Registered User Posts: 3,156 Senior Member
    If you got a grant, BrownParent's advice is better than mine.
  • calinycaliny Registered User Posts: 4 New Member
    So I called the the office and they told me that a negative account balance means that they are going to give me a refund before school starts. Since the fees are for the fall semester, would I get more financial aid for the spring semester or is this all of it?
  • Teonne27Teonne27 Registered User Posts: 7 New Member
    @caliny‌ Marylabd splits all there aid up evenly throughout the spring and fall so you may get a little more since the fees and enrollment deposit is only be charged on the fall account
  • Teonne27Teonne27 Registered User Posts: 7 New Member
    Maryland
This discussion has been closed.