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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.