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This article will answer 3 primary questions:

  • When will my financial aid disburse (meaning when will it post to your tuition account)?
  • When will I receive my refund if I qualify for one?
  • How will I receive my refund?

1. Financial Aid Disbursements (posting to your tuition account):

Your aid is scheduled to begin disbursing around the following time frame for full semester classes (late starting classes may effect this time frame):

-Fall: Mid-October

-Spring: Mid-March

-Summer: Mid-July

**Important reminder: when your aid becomes ready to “disburse”, it might not show up on your award screen for 1-3 days as it switches from being “pending” aid to posting and showing on your tuition account balance screen.

Can my financial aid change when it disburses?

Yes, your pending aid might change if you are enrolled in fewer than 12 credit hours (less than full-time) or you add or drop classes.

 

2. Do I qualify for a refund and when will I get it?

After your aid disburses it will be applied to your account and used to pay that semester’s outstanding balances for tuition, fees, and bookstore charges.  After all charges are paid the remaining balance becomes your refund.

*Remember, the date when aid disburses to your account can be up to 14 days after the last day to drop with a refund.

 

How soon will I receive my refund?

This depends on which refund method you previously chose. Checks and Direct Deposit have different processing timeframes.  See below for methods and timeframes.

 

 3. How will I receive my refund?

The refund process begins the day your aid posts as a payment on your account (Click Here for instructions on how to check your SIS (Student Information Systems) account to see if funds have posted).

  • Refunds by check can take between 10-14 business days (checks are mailed by the Commonwealth of Virginia and NOT the individual campuses. They will be mailed to your last address on file).
  • Direct Deposit to your bank account can take between 3-7 business days.

Last updated: 2020-02-13 11:43 AM 2063-8715-8386-1076
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