More on Disbursement Dates and Loan Fees

Disbursement Dates

The Scheduled Disbursement Date always defaults to the earliest allowable disbursement date for a semester, approximately 10 days prior to the start of classes. If your financial aid is ready for disbursement on the earliest date and your financial aid exceeds your institutional charges, you will most likely receive a refund by Direct Deposit or check during the first week of school.

Whether or not your financial aid is ready for disbursement on the earliest date depends on a variety of factors, such as having a complete financial aid file, meeting all disbursement requirements, and being registered for sufficient units. See Disbursement Requirements in the Help Book for details.

After the first disbursement date for each semester, additional disbursements are processed on most Mondays throughout the academic year. See Disbursement Calendars on our website for details.

Once your aid has disbursed, you can see the date of your actual disbursement in MySSU. In the Finances section of your Student Center look for the drop down menu below the View Financial Aid link, select Account Activity, and then click the Go button. The Posted Date on the Account Activity page will indicate when your aid disbursed.

If your financial aid exceeds your registration fees and other University charges, Direct Deposit refunds generally appear in your bank account 5 business days after the "Posted Date" on your Account Activity page. Refund checks are generally mailed five business days after the "Posted Date."

Middle Class Scholarship (MCS)

The disbursement of MCS will occur after each semester's census date.  Census happens about two weeks after the end of add/drop.  See the academic calendar on the Registrar’s website for more information.  Awards will be prorated based on enrollment similar to the Pell Grant adjustments.  You can view more on how enrollment affects your award by going to the enrollment page of the Financial Aid website.

MCS awards may be reduced if you become eligible for additional federal, state, institutional grants or external scholarships after the initial awarding.

Loan Fees

Mandatory loan fees are deducted from each disbursement of Federal Direct Subsidized Loans, Federal Direct Unsubsidized Loans, and Federal Parent (PLUS) Loans. These fees are retained by the federal government to help pay the costs of administering the Direct Loan programs.