Disbursement of Financial Aid

Things to Know About the Disbursement Process

• Timing of disbursements is contingent upon students meeting all conditions for receiving aid and confirmation of academic activity or attendance. See Confirming an Academic Activity for additional information.
• Disbursement of financial aid funds will begin the week following Drop/Swap and Add and continue each week throughout the semester as students complete and meet all eligibility requirements.
• At the end of the Drop/Swap and Add period, awards are adjusted based on the student’s final enrollment for the term. Students enrolled less than full-time may have their financial aid award(s) reduced and/or canceled due to not enrolling in the minimum required hours for the aid program. See Program Eligibility Charts for more information.
• The disbursement process is initiated by posting financial aid funds to the student’s account. Charges appearing on the student’s account will be deducted at that time. Once the process is finalized, students will be able to confirm their disbursement on the myUCF Portal “View My Account.” Students are also notified of the disbursement via email to their Knights email account.

Paying Balances Not Covered by Financial Aid

If charges remain on the student’s account after disbursements, or if subsequent charges are made to the student’s account, it is the student’s responsibility to pay them by the due date listed on your Fee Invoice. To track the awards that have not disbursed, students may view the information on the myUCF Portal “Student Self Service.”

Students should refer to the Student Account Services website for more information regarding making payments.

Financial Aid Refunds

A refund is the term used to describe any excess award amount remaining after tuition and fees and other charges are deducted from the disbursement.

After aid has been applied to the outstanding balance on the student’s account, any remaining funds will be processed as a refund with the exception of the PLUS Loan for Parents, which will be disbursed to the parent. The Parent PLUS refund check will be sent to the parent at the mailing address listed on the Parent PLUS loan application. Funds refunded may be used to pay other educationally related expenses.

Students who have not set up direct deposit through the myUCF Portal will have their refund check mailed to their address on record within 5 to 7 business days. Questions regarding refunds should be directed to Student Account Services at (407) 823-2433.

Reminders to Loan Recipients

• For any Federal Direct Loan, students must be enrolled and attending at least half-time in UCF classes that count toward degree requirements. Loans must be accepted on the myUCF Portal, and if required, the Master Promissory Note and Entrance Counseling must be completed. If not, disbursement of loans will be delayed.
• For Parent PLUS Loans borrowers, if your mailing address changed and you requested the Post Office to forward your mail to the new address, please allow at least 14 days to receive the refund check. If the check is not received by 14 days:
  1. Email your new address with the subject heading, “Parent PLUS Loan Mailing Address Change,” to the SFA Loan Department.
  2. Download and submit a completed Stop Payment Request Form to Student Account Services.

Making Adjustments on Federal Direct Disbursed Loans

• If it has been more than 14 days from the date of the loan disbursement, or if you wish to return a partial amount of the loan, contact your servicer for repayment options. To view your servicer’s contact information, please visit studentaid.gov.
• If your loan was disbursed within 14 days, you may submit a Loan Adjustment Request Form to cancel the full disbursement. However, if any portion of the loan was used to pay tuition, book charges, Short Term Advances or Housing, then accounts receivable will appear on your UCF account. It will be your responsibility to pay the resulting accounts receivable in a timely manner to avoid potential late fees.