Disbursement Schedule for Financial Aid
Generally, financial aid is awarded for the academic year and disbursed each semester based on a student's enrollment status. Different aid programs (i.e. scholarships, grants and loans) may disburse at different times. For students who are enrolled full-time and have a complete financial aid file, aid will disburse as follows:
Disbursements
Estimated Fall Disbursement Dates
- Institutional Scholarship/Grants = August 16, 2023
- Minnesota State Grants = August 16, 2023
- Federal Grants (Pell Grants and SEOG) = August 28, 2023
- All Loan Programs (Federal and Private) = September 6, 2023
Estimated Spring Disbursement Dates
- Institutional Scholarship/Grants = January 10, 2024
- Minnesota State Grants = January 10, 2024
- Federal Grants (Pell Grants and SEOG) = January 26, 2024
- All Loan Programs (Federal and Private) = February 5, 2024
Estimated Summer Disbursement Dates
- Minnesota State Grants = May 20, 2024
- Federal Grants (Pell Grants and SEOG) = May 20, 2024
- All Loan Programs (Federal and Private) = May 29, 2024
If You Are Enrolled Only in Summer Session II
- Minnesota State Grants = July 15, 2024
- Federal Grants (Pell Grants and SEOG) = July 15, 2024
- All Loan Programs (Federal and Private) = July 15, 2024
Estimated Fall Disbursement Dates
- Institutional Scholarship/Grants = August 14, 2024
- Minnesota State Grants = August 14, 2024
- Federal Grants (Pell Grants and SEOG) = August 26, 2024
- All Loan Programs (Federal and Private) = September 4, 2024
Estimated Spring Disbursement Dates
- Institutional Scholarship/Grants = January 15, 2025
- Minnesota State Grants = January 15, 2025
- Federal Grants (Pell Grants and SEOG) = January 24, 2025
- All Loan Programs (Federal and Private) = February 3, 2025
Estimated Summer Disbursement Dates
- Minnesota State Grants = TBD
- Federal Grants (Pell Grants and SEOG) = TBD
- All Loan Programs (Federal and Private) = TBD
If You Are Enrolled Only in Summer Session II
- Minnesota State Grants = TBD
- Federal Grants (Pell Grants and SEOG) = TBD
- All Loan Programs (Federal and Private) = TBD
Refunds
If your financial aid exceeds the amount of charges on your student account, you will receive a refund after all your financial aid has been disbursed. Refunds generated by financial aid may be used to pay other expenses related to obtaining a college degree. (Note that if subsequent charges are made to your account, you are responsible for paying them. You can view your student account on Murphy Online.)
eRefund or Paper Check
Students are strongly encouraged to take advantage of the eRefund (Direct Deposit) option offered by the Business Office. Having your financial aid refund deposited directly in your account ensures you will receive your funds quickly, usually within days. If you do not set up direct deposit, refunds will be issued via paper check and mailed to your billing address. If PLUS Loan funds create a refund, the parent borrower will be issued a refund via paper check mailed to the parent address on file.