Submitted by Anonymous (not verified) on Mon, 08/16/2021 - 15:02

Monitor your PSU email for messages regarding aid disbursements and refunds.

Disbursement

Federal Aid

  • Per federal regulation, we can begin the disbursement process of federal funds no earlier than 10 days prior to the semester begin date.
  • You will receive your loan disclosures from your Federal Direct Loan Servicer indicating that the semester begin date will be your actual disbursement date, however, this is only an estimated date of disbursement.
  • The process to request Federal Direct Loan funds and disburse them into your student bursar account will take approximately 3-5 business days.
  • Be aware that once the funds disburse, they will no longer show as anticipated aid. But within the same day, you will see the funds posted to your Student Financial Account.

Disbursement of Private Alternative Loans

  • The disbursement of alternative loans will begin at the same time as the Federal Direct Loans.
  • Keep in mind that with alternative loans there is a 10 day right of rescission period where disbursements are held in order for you to change your mind and cancel the loan.
  • Pay special attention to your loan disclosures to determine the actual disbursement date of your alternative loan funds.
  • Apply early to prevent any delays.
  • We cannot move the disbursement date of your loan.

Disbursement of other aid sources

Other aid sources such as state grants and outside scholarships will disburse into your bursar account when the funding has been received by Penn State. Please check with the relevant outside agency to determine an estimated disbursement date of your funds.

Refunds

Questions regarding refunds should be directed to the Office of the Bursar

If you have enrolled in eRefund:

  • After an eRefund has been generated by Penn State to your financial institution, the process may take up to 3-5 business days before it will appear as a credit in your account.
  • Those enrolled in eRefund can expect their refunds on or around the first day of classes.
  • If you need to pay rent, buy books, etc., then you will want to be sure to have other funding available.

If you choose to have a check mailed to you or the refund is being directed to a parent based on the disbursement of a PLUS loan:

  • Refunds that are delivered by mail will be delayed.
  • For students who do not indicate a refund preference, refunds will be mailed to the permanent address at a later date.

For more on refunds, visit the Bursar's site.