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Disbursements and Refunds

Disbursement:

This is an automated process. All accepted financial aid funds will apply towards your student account balance based off your enrollment term listed below.

Timing

Students Enrolled in Full Term ( August - December / January - May )

Disbursement will occur after enrollment is locked on the 11th day of class.

Students Enrolled in Second Part of Term ( October - December / March - May )

Disbursement will occur after enrollment is locked on the 5th day of class.

Summer ( May - August )

Disbursement will occur on the 5th day of class

 

Issues

There are several issues that can prevent financial aid from disbursing

Missing Documents
Have you checked your tracking requirements to ensure you have completed missing documents? You might need to submit forms, complete your loan's Master Promissory Note, or your loan's Entrance Counseling?
Enrollment
Are you enrolled in enough hours to receive your loan? Graduate and Undergraduate students must be enrolled at least half-time to recieve their federal aid (Unsubsidized Loans, Subsidized Loans, Parent PLUS Loan, etc....)
Course Program of Study
Do all your courses count towards your program of study / degree? If you are taking courses that do not count, this will affect your federal aid and possibly your disbursement if you do not meet the minimum enrollment hours due to courses not counting.

 

If none of the issues above apply to you, please reach out to our team so we can further review your account and assist you.

 

Refunds

Refunds are issued because the aid is excess, and credits are automatically applied to students' accounts through an automated process in the Treasurer's Office. For further information, please visit the Treasurer's Office Knowledge Base Shelf or contact their office at  sasbillpayment@astate.edu for assistance.

 

How to Receive a Refund

Direct Deposits

To sign up for direct deposit go to myBill and select the Refund Tab. Your account must be verified before refunds are issued to receive a direct deposit. The verification process can take up to 6 business days. Once a refund is issued to a direct deposit account, funds are available within 48 hours, depending on the process time of the individual's bank.

Checks

For accounts without direct deposit setup, a check will be printed and mailed to the Billing or Mailing address type on file. Students are responsible for entering and ensuring their address is correct. If a check is lost in the mail or not received, students must wait 14 business days before completing a Student Affidavit Form to have the funds reissued. To check your Billing and Mailing address type, login to Self Service Banner.

 

Timing

Financial Aid Disbursement

Once financial aid disburses in a large batch at the beginning or middle of the term, the refund process is ran the following day to issue funds to students. This is usually a 3 day process: aid disburses, refunds are processed the next day, checks mailed/direct deposits sent to students on the third day.

Weekly

After the initial aid disbursement, refunds are processed twice a week: Tuesday and Thursday. Checks are mailed and direct deposits are sent to students the following day after each run (Wednesday and Friday).

Example: If your refund is processed on Tuesday, your check will be mailed or your direct deposit will be sent to you on Wednesday.

 

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