Disbursement of Financial Aid Funds

The first week of school, if you:

• are enrolled at least half-time in eligible courses (review the NMSU Schedule of Classes for details of eligible and ineligible courses),

• are academically eligible and maintaining academic progress,
• are without a previous Business Office(University/Student Accounts Receivable) balance
• have been awarded aid before the first day of courses,
• have completed the registration process by signing and submitting your fee statement to the Business Office or paying the required down payment. Do so by the Friday before classes begin each semester to help ensure timely disbursement of funds.

Disbursement of funds occurs as follows:

• Grants, Perkins loans, Stafford loans, and most university scholarships automatically credit your account in the Business Office. Funds are applied to charges owed. Refunds are disbursed according to the alpha listing in the semester Schedule of Classes Booklet (the booklet is used to select your courses each semester).



NOTE: You must attend one Debt Management Counseling Session before Perkins loans are disbursed or Stafford loans are processed.


• Work study awards are not applied directly to charges owed. Apply for jobs listed at our web site. Once hired, you receive semi-monthly payments for your work.

You have 30 days from the beginning of the semester to find a work study job otherwise funds are taken away. If you encounter difficulty finding a position, make an appointment to visit your financial aid advisor for guidance.