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Excess Aid Refund

Students who have accepted financial aid loan(s) and have returned or submitted their award letter to the financial aid office will receive a disclosure statement by mail (or online in MyView) informing them of when their funds will be disbursed to UMSL.

Once the students account has been reviewed, all paperwork completed, and it is verified by the financial aid office that the student is enrolled in sufficient class hours to receive the financial aid; the funds will then be released from the lender.  The timeframe for UMSL to receive funds from the lender is 3-5 business days. Because the aid is still classified as anticipated at this point, the student is not yet eligible for a refund.

When the financial aid funds are received by UMSL, the funds are then applied to the students account.  The financial aid funds will be applied to the students account no sooner than ten days prior to the start of classes.

If the student has a credit balance after the financial aid funds have paid the student’s account charges in full, the student is now eligible for a refund. 

As student accounts go into credit balance, the Cashier’s office processes refunds to students by checks through the mail and by electronic transfer (direct deposit) to a personal checking or savings account. Please allow 7-10 business days from the day that your refund is processed to receive your refund check in the mail. For students that have direct deposit, allow 3-5 business days from the day that your refund is processed to receive your refund in your bank account. Click here for instructions on how to find out when your refund was processed.