Financial Aid Disbursement

Disbursement of Aid

Federal regulations stipulate that financial aid cannot disburse more than 10 days prior to the start of a term or payment period.  Students can identify the disbursement of their financial aid by logging into Student Self-Service, select financial aid, select award offer, and select view your payment schedule, or viewing the term disbursement dates below.

Disbursement dates are subject to change based on the completion of financial aid application materials as well as timing of the acceptance and completion of necessary student loan paperwork.   If your aid is not disbursed on the first available payment period date, funds will be credited on a weekly basis thereafter upon confirmation of the completion of all required paperwork.

As a student you have the right to cancel an entire loan or any portion or specific disbursement of any Federal Direct Loan. You may submit a request to cancel a specific loan disbursement prior to the date of crediting to your student tuition account or within 14 days of notification. Please contact the Financial Aid Office at finaid@neomed.edu to request cancellation of a loan disbursement.

If a refund has been granted, you may request that funds be returned to the lender providing the request is made within 120 days of the loan’s disbursement to your student tuition account.  Returning credit balance refunds require the student to write a personal check made payable to NEOMED for the amount they wish to return and the completion of a Student Loan Request Form.  Students may also return an uncashed credit balance refund check if they do not require the funds.

Federal regulations require the disbursement of financial aid to qualifying education expenses before a student is eligible for a credit balance refund.  There are circumstances where a student may be billed for a non-qualifying education expense and will be required to pay such expense, unless the student grants authorization to use Tile IV funds to pay the expense.  Students will complete the Title IV Authorization form during the financial aid application process.  Students may change their elections to the Title IV Authorization Form at any time by contacting the Accounting Office at 330.325.6369.

When the disbursed financial aid made towards a student’s tuition account total more than the billed costs, the additional amount will be refunded to eligible students within 14 days of the establishment of a credit balance refund.  The University will allow receipt of a credit balance refund by:

• A direct deposit to a checking or savings account with written authorization and supporting documentation.
• A paper check mailed to a valid local or permanent address on file with the University.

It is the student’s responsibility to maintain an accurate direct deposit and/or mailing address with the University.  Direct Deposit returns due to a closed account or a returned paper check may be reissued to the student and are subject to a reprocess fee.

Students should review the Credit Balance Refund Policy, located in the policy portal.

The disbursement calendar is subject to change without notice based on any changes to the period of engagement in the curriculum.

Disbursement Calendars

2024-25 Academic Year