Loan Refund Schedule

Loan Disbursement and Refund Schedule 2019-2020

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 MiSPP 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 2019-2020

Disbursement Date Direct Deposit Refund Paper Refund
September 4
September 13
September 17
September 20
September 27
October 3
October 11
October 18
October 24

Second Semester 2019-2020

Disbursement Date Direct Deposit Refund Paper Refund
January 6
January 14
January 17
January 17
January 24
January 30
January 31
February 7
February 13

Third Semester 2019-2020

Disbursement Date Direct Deposit Refund Paper Refund
April 13
April 21
April 24
April 24
May 1
May 7
May 8
May 15
May 21

The final date for late loan approval is June 15, 2020. 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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