Loan Refund Schedule

Loan Disbursement and Refund Schedule 2015-2016

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 generally within 8 business days.

First Semester 2015-2016

  • September 3, 2015 – funds disbursed (refund checks mailed September 11)
  • September 17, 2015 – funds disbursed (refund checks mailed September 25)
  • October 1, 2015 – funds disbursed (refund checks mailed October 9)

Second Semester 2015-2016

  • January 4, 2016 – funds disbursed (refund checks mailed January 12)
  • January 21, 2016 – funds disbursed (refund checks mailed January 29)
  • February 4, 2016 – funds disbursed (refund checks mailed February 12)

Third Semester 2015-2016

  • April 18, 2016 – funds disbursed (refund checks mailed April 26)
  • May 5, 2016 – funds disbursed (refund checks mailed May 13)

The final date for late loan approval is June 12, 2016. 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.