Financial Aid Disbursement Information
Your financial aid award(s) must actually be completed and credited to your account (not estimated awards), and you must have a credit balance in your account after fees have been satisfied for the semester before receiving a refund of excess aid. See the Bursar's Office Calendar for disbursement dates.
Beginning with Fall 2009, the Financial Aid/Scholarship Refund Process Has Changed.Refund by eRefunds (Direct Deposit)
Excess financial aid/scholarships will be direct deposited to your bank account beginning the Friday before classes, January 13, 2010 (Law School – January 8th) and daily thereafter through the end of the semester for financial aid/scholarship awards that are disbursed after the initial eRefund noted above.
It is important that you sign up for eRefund on TigerXpress by January 8, 2010 (Law School – January 4th).
If you receive financial aid/scholarship award amounts in excess of fees, you need to sign up online on TigerXpress to have your refund deposited directly to your bank account. Note that authorization submitted to the Payroll Office is separate from authorization for Financial Aid disbursement.
Refund by Check
IF you do NOT sign up for eRefund, check refunds will be mailed beginning January 22, 2010 , the second Friday AFTER classes begin, and every Friday thereafter through the end of the semester for financial aid/scholarship awards that are disbursed after the initial mailing noted above.
eRefunds is the fastest way to receive your excess financial aid/scholarship funds!
NOTE: First Time Borrowers must have completed an entrance interview and master promissory note in order for your funds to be disbursed to your student account and any excess to be refunded to you. For additional information, please contact the Financial Aid Office.
Financial Aid Disbursement Information for Students with Outstanding Debt
- Federal Regulations require authorization from the student to use Title IV funds (i.e. federal financial aid) to pay prior term charges and current non-educational charges (e.g. parking tickets, library fines, etc.) within the same award year as the Title IV funds. Without your authorization, your federal aid will pay only current tuition, fees, and dorm room charges. Federal regulations prohibit using current Title IV funds to pay any prior award/academic year outstanding charges. Your account will remain on hold until you pay all past due charges owed to The University of Memphis.
- Access and complete the Title IV Authorization Form online and submit to the Financial Aid Office, 103 Wilder Tower. Failure to do so will require payment in full of any outstanding charges and may result in a delay of processing financial aid excess refunds and/or deletion of classes.
- If above conditions are satisfied, holds will be released beginning August 1 (if receiving non Title IV funds to pay outstanding charges) for Fall semesters, December 1 for Spring semesters, and May 1 for Summer semesters.
- State Law prohibits the release of a registration hold for any student who owes debt to the University.