Loan Refund Schedule

Loan Disbursement and Refund Schedule 2021-2022

As loan applications become complete at the beginning of each semester, the financial aid office will draw loan funds down from the U.S. Department of Education and disburse them to your student account. After first paying your MSP bill for outstanding tuition/fee charges, any excess balance will be refunded to you. Students may authorize to have financial aid refunded via direct deposit which is faster and more cost effective. Paper refund checks will be mailed if there is no direct deposit authorization, and will occur no later than 14 days after disbursement.

First Semester 2021-2022

Disbursement Date Direct Deposit Refund Paper Refund
September 1
September 10
September 15
September 10
September 17
September 23
September 24
October 1
October 7

Second Semester 2021-2022

Disbursement Date Direct Deposit Refund Paper Refund
January 3
January 11
January 14
January 14
January 21
January 27
January 28
February 4
February 10

Third Semester 2021-2022

Disbursement Date Direct Deposit Refund Paper Refund
April 18
April 26
April 29
May 2
May 10
May 13
May 16
May 24
May 27

The final date for late loan approval is June 15, 2022. Eligibility for loan funds and refund checks are contingent upon maintaining at least half-time enrollment and meeting Satisfactory Academic Progress. Contact the Financial Aid Office with questions.

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