Loan Refund Schedule

Loan Disbursement and Refund Schedule 2022-2023

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 2022-2023

Disbursement Date Direct Deposit Refund Paper Refund
August 31
September 9
September 13
September 9
September 16
September 22
September 23
September 30
October 6

Second Semester 2022-2023

Disbursement Date Direct Deposit Refund Paper Refund
January 2
January 10
January 13
January 13
January 20
January 26
January 27
February 3
February 9

Third Semester 2022-2023

Disbursement Date Direct Deposit Refund Paper Refund
April 24
May 2
May 5
May 5
May 12
May 18
May 19
May 26
June 1

The final date for late loan approval is June 15, 2023. 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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