Each semester, grants, loans, and scholarships are disbursed to student accounts a week before classes to pay off any University balances. If there are funds remaining, a refund will be issued to the student. Disbursement and refund dates are shown below for standard disbursement, summer disbursement, one semester only loans, and first-time loan borrowers. Dates are subject to change.
Students are encouraged to complete their financial aid files early to ensure timely disbursement.
|Fall 2016||Spring 2017|
|100% of funds disbursed to student accounts to pay University balances||August 12, 2016||January 13, 2017|
|100% of grants, loans, and scholarships refund available through Direct Deposit||August 17, 2016||January 18, 2016|
|100% of grants, loans, and scholarships refund check available from University Accounts Receivable||August 17, 2016||January 18, 2016|
|100% of funds disbursed to student accounts to pay University balances||May 19, 2017|
|100% of grants and scholarships refund issued||May 24, 2017|
One Semester Only Loans
One semester only loans will be split into two disbursements throughout the semester. 50% will disburse at the beginning of the semester, and the remaining 50% will disburse at the midpoint of the semester.
|Fall 2016||Spring 2017||Summer 2017|
|50% of loans disbursed to student accounts to pay University balances||August 12, 2016||January 13, 2017||May 19, 2017|
|50% of loans refund issued||August 17, 2016||January 18, 2017||May 24, 2017|
|Remaining 50% of loans disbursed to student accounts to pay University balances||October 13, 2016||March 13, 2017||June 28, 2017|
|Remaining 50% of loans refund issued||October 19, 2016||March 17, 2017||July 5, 2017|
First Time Loan Borrower
Loans for first-time borrowers will disburse 30 days after the semester starts.
|Fall 2016||Spring 2017||Summer 2017|
|100% loans disbursed to student accounts to pay University balances||September 17, 2016||February 18, 2017||June 23, 2017|
|100% of loans refund issued||September 21, 2016||February 22, 2017||June 28, 2017|
All students face uncertainty during their first semester. As you adjust your schedule during the first 30 days of the semester, this delay in disbursement will give the Financial Aid Office the flexibility to adjust loan amounts to better reflect your financial aid eligibility. This will reduce the need for collecting returned financial aid for courses that you may have dropped during this period, keeping your debt burden lower. Such a delay is standard in many financial aid offices.
NMSU Financial Aid does not anticipate that this change will affect your ability to pay for books, tuition, and other university charges. University Accounts Receivable is aware of this change and understands that you will be receiving loan disbursements later in the semester. Credit up to $500/semester is available from Barnes and Noble (online or in the campus store) for purchasing books and supplies. Any concerns you may have regarding this change will be dealt with on a case-by-case basis by your Financial Aid Advisor.
National and International Exchange
If you attend another institution through NMSU’s National or International Student Exchange Programs, you retain your financial aid eligibility with NMSU. However, disbursement is delayed to 10 days before your trip begins.
The first week of school, if you:
- are enrolled at least half-time in eligible courses (review the NMSU Schedule of Classes for details about eligible and ineligible courses)
- are academically eligible and maintaining Satisfactory Academic Progress
- do not have a previous University Accounts Receivable balance
- have been awarded aid before the first day of courses
Then disbursement of funds will occur as follows:
- Grants, Federal Direct Loans, and most scholarships automatically credit to your student account.
- Funds are applied to charges owed.
- Any remaining funds will be disbursed as a refund.
Enrollment is verified daily and adjustments to financial aid may result based on award criteria.
Undergraduate students may receive Title IV aid for only one repeat of a previously passed course.
Financial aid may not pay for courses added after the deadline for registration and course additions.
- All university charges for a semester must be paid in full before refunds are permitted.
- If you officially withdraw or drop a course during a semester, you may receive a refund of tuition and fees. Refer to the NMSU Registration Guide for the deadline to receive a refund. Refund schedules apply when courses are dropped and a tuition adjustment is necessary.
- No refund will be made on classes of less than six weeks duration.
- In cases of academic or disciplinary suspension, eligibility for a refund will depend on the conditions of the suspension and will be at the option of the university.
- For details, please contact the NMSU Accounts Receivable Office at 575-646-4911.
Students must notify Financial Aid and Scholarship Services of any/all additional resources: scholarships, veteran’s benefits, tuition waivers, stipends, WIA, DVR, state or federal program awards, and others which may be received, so that the financial aid award can be adjusted accordingly. All financial aid offers are subject to revision due to changes in policy, law, regulation, errors, or funding. The student is responsible for repaying excess funds disbursed due to any of these reasons.
Students whose financial aid files are incomplete must complete their registrations and make payments according to the University’s payment plan without the assistance of financial aid.