Financial aid is generally disbursed to the student’s account one week prior to the first day of class each semester (fall/spring) and applied against university charges. The student must meet certain eligibility requirements to be eligible for a financial aid disbursement, including Satisfactory Academic Progress standards.
What is a Financial Aid Disbursement?
Unless otherwise noted, all financial aid awarded by our office is applied directly to a student’s billing account in two installments. One half of the total award for the year is applied each semester (fall/spring) and is credited toward the charges on the student’s bill (tuition and fees, university housing charges and meal plan, and/or other university charges). Please keep in mind, financial aid cannot pay late fees.
When Is Aid Disbursed?
Financial aid is disbursed one week before the first day of classes and subsequent disbursements are made weekly. Your financial aid will be eligible for disbursement when:
- A complete FAFSA is on file with UMBC, and
- All requested documents have been received and reviewed, and
- Your enrollment status is full-time (12 credits undergraduate, 9 credits graduate)*
Financial aid for part-time students will disburse after the add/drop enrollment period for the current semester ends if student meets the first two criteria above.
For students who choose to accept their loans:
- You must also complete the loan application process
*All financial aid awards are initially based on full-time enrollment. Please click here for additional information about how a change in your enrollment can affect your awards.
Financial Aid in Excess of Charges
If you have excess financial aid funds on your student account after university charges are paid in full, an electronic refund will be generated through the Student Business Services Office (SBS). Refunds can be used to pay for other costs associated with your education and other charges that could not be paid with financial aid (i.e. late fees).
Please monitor your myUMBC account to ensure that all university charges have been paid upon receipt of your refund. For more information about E-Refunds please visit the SBS website.
Changes After Disbursement
Changes may be made to your financial aid package after it has disbursed. It is your responsibility to pay UMBC back any financial aid funds you are no longer eligible to receive. Please see the Adjustments to Initial Award Package section of our website for examples of why your financial aid package may be changed. Please contact our office if you have any questions regarding why an adjustment was made.