Loan Disbursement and Budgeting Refunds

Tuition at the graduate school is billed by the credit hour, so charges vary by semester depending on your course load. Loans, on the other hand, are typically divided evenly over the period of enrollment. Equal loan disbursements applied to unequal charges can make for variable refunds throughout the year, and we want you to be prepared for this possibility.

After receiving your financial aid award letter we encourage you to download and complete the budget worksheet below. It is a tool to help you estimate charges and financial aid credits, and it will calculate your estimated account balance in each semester. A positive balance indicates an amount due; a negative balance indicates the account is overpaid and a refund will be generated. Keep in mind that your actual charges, credits, and refund/balance due in each semester are subject to change based on your registration.

As a student your focus should be on academics, not finances. With this information we hope you will plan ahead and create a personal budget so that you can successfully manage your money throughout the year.

BUDGET WORKSHEET

To complete the worksheet you will need to refer to your 2021-22 financial aid award letter in Self-Service (log into WebAdvisor, select the link for Financial Aid Self-Service, and navigate to My Awards), tuition cost information for the Graduate School of Education and Counseling, and either a course sequence sheet for your program or your individual 2021-22 academic plan.

Once you have completed the budget worksheet, please accept or decline your loans in Self-Service by following the prompts on the screen. Additional loan processing steps may be required. The checklist on your Self-Service home page will track your progress in completing the loan counseling and MPN requirements. Grad PLUS Loan borrowers must complete one additional step that does not appear in the checklist: the Grad PLUS Loan Application.

 

Loan Disbursement/Refund Timeline

Note: Please finalize your Summer schedule as early as possible. Registration will be reviewed when your loans are originated to determine loan disbursement dates.

Semester or Session

Loan Disbursement / Refund Timeline

Summer Session 1

Summer loans will be scheduled to disburse on/after May 3, 2021. Refunds from financial aid will be available no earlier than the first day of classes in the session: May 10, 2021.

Summer Session 2

Summer loans will be scheduled to disburse on/after June 7, 2021. Refunds from financial aid will be available no earlier than the first day of classes in the session: June 14, 2021.

Summer Session 3

Summer loans will be scheduled to disburse on/after July 12, 2021. Refunds from financial aid will be available no earlier than the first day of classes in the session: July 19, 2021.

Fall

Fall loans will be scheduled to disburse on/after August 30, 2021. Refunds from financial aid will be available no earlier than the first day of Fall classes: September 7, 2021.

Spring

Spring loans will be scheduled to disburse on/after January 3, 2022. Refunds from financial aid will be available no earlier than the first day of Spring classes: January 10, 2022.

 

If you will receive refunds from financial aid in 2021-22, budget carefully over the entire academic year! As explained above, refund amounts can vary by semester. Therefore, you may need to set aside a portion of your refund from one semester to address expenses in a future semester.