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Loan Refund Schedule

Loan Disbursement and Refund Schedule 2016-2017

As loan applications becomes complete at the beginning of each semester, the financial aid office will draw loan funds down from the U.S. Department of Education and disburse them to your student account. After first paying your MiSPP bill for outstanding tuition/fee charges, any excess balance will be refunded to you. Students may authorize to have financial aid refunded via direct deposit which is faster and more cost effective. Paper refund checks will be mailed if there is no direct deposit authorization, and will occur no later than 14 days after disbursement.

First Semester 2016-2017

  • September 1, 2016 – funds disbursed (refund checks mailed September 15)
  • September 15, 2016 – funds disbursed (refund checks mailed September 29)
  • September 29, 2016 – funds disbursed (refund checks mailed October 13)

Second Semester 2016-2017

  • January 3, 2017 – funds disbursed (refund checks mailed January 17)
  • January 19, 2017 – funds disbursed (refund checks mailed February 2)
  • February 2, 2017 – funds disbursed (refund checks mailed February 16)

Third Semester 2016-2017

  • April 17, 2017 – funds disbursed (refund checks mailed May 1)
  • May 4, 2017 – funds disbursed (refund checks mailed May 18)

The final date for late loan approval is June 19, 2017. Eligibility for loan funds and refund checks are contingent upon maintaining at least half-time enrollment and meeting Satisfactory Academic Progress. Contact the Financial Aid Office with questions.