If financial aid funds remain in your account after paying tuition and fees and buying books and supplies, that balance can be refunded to you. In this chapter, we will discuss a student's and a school's responsibility for resolving overawards and overpayments.You can receive the excess amount in the form of a "refund. " Refunds are disbursed around 30 days after the start of each semester. Wake Forest Students are financially responsible for making payment to the University. Failure to review your Workday account does not warrant exemption.