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What is a disbursement?
A disbursement is the release of financial aid to pay a student's account. When aid is more than the charges on the account, the leftover balance is refunded to the student. Disbursement happens after the semester's drop/add period ends and after the Financial Aid Office has finalized the award for the semester. Aid pays charges first, including tuition, fees, and any book charging balance. The remaining credit balance is refunded through BankMobile [WEB LINK: BankMobile].
When will my financial aid disburse?
Exact disbursement dates for each term are published on the SF Financial Aid website [WEB LINK: SF Financial Aid website]. Start there.
In general:
- Disbursement begins after the drop/add period closes, on the date SF publishes for the term. Book charges, attendance, and enrollment data are reconciled first, so the first disbursement is several weeks into the term.
- Late-starting mini-terms and flex terms (B term, Summer A, B, and C) disburse separately, after their own drop/add period closes.
- A loan for a single semester releases in two installments, with the second after midterm.
- Scholarships follow their own rules, and SF Foundation scholarships usually disburse mid-semester.
Aid from more than one source, federal, state, institutional, or Foundation, processes on separate timelines, so it can arrive in more than one deposit.
What has to be in place before my aid disburses?
Each type of aid has its own requirement.
Pell Grant. Federal processing complete, enrollment locked for the semester at the enrollment lock date, and the student meeting Satisfactory Academic Progress or holding an approved SAP appeal.
Federal Direct Loans. An accepted loan offer, completed entrance counseling, a signed Master Promissory Note, enrollment of at least 6 credit hours, and meeting SAP.
FSEOG, FSAG, and FGMG. Confirmed need-based eligibility and at least 6 credit hours at the enrollment lock date.
Bright Futures. SF listed as the attending institution in the student's OSFA account [WEB LINK: OSFA student portal], at least 6 credit hours.
SF Institutional and Foundation Scholarships. The award's terms met, which can include enrollment level, GPA, and program of study. Requirements vary by scholarship.
Attendance has to be recorded in each class before aid for that class disburses. The "Scheduled" dates shown in the Financial Aid Portal are internal processing dates, not release dates. A student should ignore them and use the dates on the SF disbursement page [WEB LINK: SF Disbursement page].
Aid does not disburse while a student has an outstanding obligation to the college or a hold on the account.
My portal says "Paid." Why isn't the money in my account yet?
"Paid" in the Financial Aid Portal [WEB LINK: eSantaFe login] means the Financial Aid Office has verified eligibility, authorized the funds, and sent them to finance for posting. It does not mean the money has reached a bank account. Posting to the student account and the release of any refund continue after "Paid" appears. Once it shows, a student should watch BankMobile for 3 to 5 business days for the refund deposit.
How do I get my refund?
When aid is more than the charges on the account, the credit balance is refunded through BankMobile, SF's refund processor. A refund cannot be issued until the student has chosen a refund preference in BankMobile. For questions about a refund, contact the Cashier's Office.
My aid didn't disburse, or it was less than I expected. What should I check?
Aid is commonly delayed or reduced for one of these reasons:
- Missing items in the Documents section of the Financial Aid Portal
- A change in SAP status
- An enrollment change at or after the enrollment lock date
- Incomplete loan steps, such as entrance counseling or the Master Promissory Note
- An outstanding balance or a hold on the account
- A federal or state processing hold
Aid also pays charges first and refunds only the leftover, and aid from different sources arrives separately, so the full amount may not come at once. A student who expected a disbursement should check their award status and the Documents section in the Financial Aid Portal, then contact the Financial Aid Office if the reason isn't clear.
What happens to my aid if I withdraw or drop classes?
Withdrawing or not passing any classes can require the college to return federal aid under Return of Title IV rules, and it can require Bright Futures repayment. The withdrawal mechanics themselves, deadlines, petitions, and grades, sit with the Registrar.
How do I check my disbursement status?
Each award in the Financial Aid Portal shows its current status, the amount disbursed, and the disbursement date.