Financial Aid - Disbursement Schedule
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 12, 2020
- Minnesota State Grants = August 12, 2020
- Federal Grants (Pell Grants and SEOG) = August 31, 2020
- All Loan Programs (Federal and Private) = September 16, 2020
Estimated Spring Disbursement Dates
- Institutional Scholarship/Grants = January 11, 2021
- Minnesota State Grants = January 11, 2021
- Federal Grants (Pell Grants and SEOG) = January 22, 2021
- All Loan Programs (Federal and Private) = February 15, 2021
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.