Fayetteville Policies and Procedures  503.1 

Financial Aid Disbursement and Refunding

Disbursement of financial aid is the process by which aid is posted onto the student account. Disbursement begins the week prior to the start of each semester and continues on a regular schedule throughout the semester as determined by the Financial Aid Office. 

Refunding of financial aid is the process by which excess funds are properly returned to students or aid provider, if applicable.  Refunding begins shortly after disbursement and continues on a regular schedule throughout the semester as determined by the Treasurer’s Office.  Students receiving federal financial aid exceeding the allowable or authorized charges or any scholarships exceeding their student account balance will receive a refund.  The refund will be direct deposited into a bank account of their choosing or a check will be mailed to their permanent address, unless an alternate check address has been provided.  The check address or direct deposit information is updated through UAConnect.

Students must meet all eligibility requirements for financial aid before a refund will be processed. The Treasurer’s Office will deduct all amounts owed to the university from the nonfederal excess funds before issuing a refund, except in the case of certain emergency funds. Federal funds may only be used for the following:

• Current academic year tuition and fees (as described in Section 472 of the Higher Education Act) and housing.
• Other current charges that a student has incurred for educationally related activities if authorization is received from the student (or parent in the case of a PLUS loan).
• Prior award year charges for tuition and fees, or housing (and with permission, educationally related charges) for a total of not more than $200.00.

Revised July 18, 2022
Revised June 1, 2016
Reformatted for Web May 6, 2014
Revised January, 2012
Revised April, 2005
Revised December, 1997
April 27, 1989