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Refunds for all types of financial aid will begin 30 days after the start of the semester. You will receive loan funds in two disbursements each semester. First disbursement will occur approximately 30 days after the beginning of the semester.
Payments are usually processed within two weeks of the start of each term, upon full-time registration. If Page 3 the payment creates a credit balance on your University student account, the credit will be released to you either by check or direct deposit to your bank account.
Paper Refund Checks If financial aid disburses by 9am on a Friday, most refund checks will be mailed the following Monday. If the financial aid disbursement occurred after 9am on a Friday, the paper refund check may take up to two weeks to be processed and mailed to you.
Refunds for all types of financial aid will begin 30 days after the start of the semester. You will receive loan funds in two disbursements each semester. First disbursement will occur approximately 30 days after the beginning of the semester.
Financial Aid Refunds This typically happens two business days after the disbursement date. Refunds will be mailed to you, unless you sign up for direct deposit.
Depending on whether you completed the FAFSA online at FAFSA.ed.gov, have a valid email on file, and signed the online application using the FSA ID, it can take 3 to 5 days to process your FAFSA and send you a Student Aid Report (SAR). The SAR summarizes the information you provided on your FAFSA.
What is the difference between a disbursement and a refund? Disbursements occur when SPC receives federal, state, or other funds on your behalf. Refunds occur when the amount of the disbursements received on your behalf is greater than the amount owed for tuition, fees, and the Book Line of Credit.
What Is a Disbursement? A disbursement is the payment of money from the source. In the case of financial aid, the payment of money comes from your aid source (the federal government, school, private student loan lender, etc.), and in most cases, will be paid directly to your school.
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