Step 7: Disbursement
A) Meet All Eligibility Requirements
Disbursement of all federal funding is subject to the student meeting Satisfactory Academic Progress (SAP), credit hour requirements, and all other eligibility requirements--this may include very specific aid type (Pell, Stafford, etc.) requirements.
For more information, refer to each aid type's page, SAP, eligibility requirements, BYU's repeat policy, and the Financial Aid Rights and Responsibilities page.
Tips:
- Meet and maintain your eligibility during the entire semester. If you do not meet all requirements, this may result in some or all of your aid being cancelled.
- If you have questions or concerns about meeting all eligibility requirements consult your Financial Aid Counselor.
B) Funds Post to My Financial Center
If disbursement criteria are met, BYU scholarships, Pell Grants, Stafford Loans, BYU Loans, and Plus Loan funds are deposited automatically into the BYU Student Account, paying toward applicable semester tuition charges. See your BYU Student Account on My Financial Center.
Funds begin posting on the tuition deadline (one week prior to the first day of class for each semester/term).
Tips:
- Remember all financial funding post's to My Financial Center first and then is refunded.
- Check your Student Account balance on a regular basis and always pay your account in full.
C) Excess Funds are Refunded
After your financial aid has paid your applicable semester tuition, there may be an excess amount available. This excess will be refunded to you to help pay for your other educational expenses (books, housing, etc.)
If you have authorized direct deposit for your Student Account (see Step 6C), any excess funds will be directly deposited to your bank account. A direct deposit refund it may take 2-3 to be processed at the bank.
If you have not authorized direct deposit, we recommend you complete this step. Without direct deposit a paper check will be mailed to you. A paper check refund may take 7-10 days to arrive at your BYU mailing address.
Excess funds are refunded beginning three days after the first day of class for each semester/term.
Tips:
- Check My Financial Center to ensure you do not have any holds. A hold may stop you from having a excess refunded sent.
Other Important Disbursement Topics
Parent PLUS Loan Disbursement
Parent PLUS Loan is first applied to the student's tuition and fees account. Any remaining excess funds after these charges have been paid will result in a refund check that will be mailed to the parent borrower. Students should make plans with the parent borrower for how they will receive the excess money.
Off-Campus Scholarship Disbursement
Please see Off-Campus Scholarships (How and When Will I Get the Money?) for information regarding disbursement of Off Campus Scholarship funds.
