Fall 2014 Financial Aid Disbursements

money

The moment you’ve been anticipating is finally here! Today, Tuesday August 19th, our office will be disbursing pending financial aid for full-time undergraduate students (12+ credits) and all Stafford loans for graduate students enrolled in 6+ credits.

After we disburse your financial aid, Student Business Services will apply it to your bill. If you are a full-time undergraduate student or a graduate student enrolled in 6 or more credits, your billing account should be update by the end of business today, 4:30pm.

Don’t see your financial aid applied by the end of the day???

Make sure:

  • You have a completed FAFSA on file with UMBC
  • All requested documents have been received and reviewed
  • You are registered for 12+ credits (waitlisted and audited classes do not count toward financial aid)
  • You’ve completed your Stafford Master Promissory Note and Entrance Counseling if you intend to borrow Stafford loans
  • You’ve completed your Perkins Master Promissory Note and Entrance Counseling if you intend to accept an offered Perkins loan
  • Please contact your assigned financial aid counselor if you have any concerns regarding your financial aid disbursement by visiting our website http://www.umbc.edu/financialaid/contact.html

 

Fall 2014 financial aid disbursements will begin after the add/drop period ends for undergraduate students who are enrolled in less than 12 credits. Graduate students must be enrolled in at least 6 credits to be eligible for a student loan.

 

Expecting a refund?

Students who have financial aid in excess of their bill should receive a refund. Student Business Services typically posts refunds approximately 2 days after financial aid has been applied. If you are expecting a refund you should monitor your account inquiry to ensure that it gets posted by the end of this week. You can use the following timeline to estimate when you will actually receive your refund; the time line is based on the date your refund gets posted to your billing account:

  • E-refund card: 5-7 business days
  • Direct deposit to a personal account: 7-10 business days
  • Check refund by mail: 10-15 business days
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