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Disbursement of Financial Aid

Disbursement of financial aid is the process in which financial aid awards (scholarships, grants, loans, etc.) are posted to the student’s account. As this process takes place, students may see changes to their anticipated aid, awards, and charges. 

  • Disbursement of financial aid funds will begin the week following Drop/Swap & 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 who are less than full-time may have their financial aid award(s) reduced and/or cancelled 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.
  • 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. To track the awards that have not disbursed, students may view the information on the myUCF Portal “Student Self Service.”

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. 

Note the following:

  • All required items on the To Do List on the myUCF Portal must be completed prior to the disbursement of aid.
  • Some scholarships and grants require full-time enrollment for disbursement. Being waitlisted for a course does not count toward the student’s enrollment level.
  • Not all financial aid awards disburse at the same time in all cases. 
  • All awards, including accepted Federal Direct Stafford Loans, are subject to change if corrections to the student’s financial aid package are required.

 

 
   
   
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