Financial Aid

Changes to the Direct Loan Program in response to the COVID-19 Pandemic.

Learn more.

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.

2021-22 Academic Year

Summer

 
Start Date End Date Disbursement Date Return Funds By
M1 7/26/2021 8/20/2021 7/16/2021 11/8/2021
M2 7/26/2021 8/20/2021 7/16/2021 11/8/2021
AFMT – M2 6/1/2021 8/21/2021 6/1/2021 9/27/2021
AFMT – M3 5/17/2021 10/1/2021 5/17/2021 9/13/2021
P4 6/1/2021 8/31/2021 6/1/2021 9/27/2021
MAS 7/26/2021 8/21/2021 7/16/2021 11/8/2021
All other COGS 6/1/2021 8/21/2021 6/1/2021 9/27/2021

Fall

 
Start Date End Date Disbursement Date Return Funds By
M1 8/23/2021 12/10/2021 8/13/2021 12/6/2021
M2 8/23/2021 12/10/2021 8/13/2021 12/6/2021
AFMT – M2 8/23/2021 12/10/2021 8/13/2021 12/6/2021
M3 7/12/2021 12/10/2021 7/2/2021 10/25/2021
AFMT – M3 10/4/2021 1/28/2022 9/24/2021 1/14/2022
M4 7/12/2021 11/24/2021 7/2/2021 10/25/2021
P1 8/23/2021 12/11/2021 8/13/2021 12/6/2021
P2 8/19/2021 12/11/2021 8/9/2021 12/6/2021
P3 8/23/2021 12/11/2021 8/13/2021 12/6/2021
P4 9/1/2021 11/30/2021 8/23/2021 12/6/2021
MAS 8/23/2021 12/11/2021 8/13/2021 12/6/2021
All other COGS 8/23/2021 12/11/2021 8/13/2021 12/6/2021

Spring

 
Start Date End Date Disbursement Date Return Funds By
M1 1/3/2022 5/20/2022 1/3/2022 5/2/2022
M2 1/3/2022 4/22/2022 1/3/2022 4/18/2022
AFMT – M2 1/3/2022 4/22/2022 1/3/2022 4/18/2022
M3 12/13/2021 7/8/2022 12/3/2021 3/28/2022
AFMT – M3 1/31/2022 5/27/2022 1/21/2022 5/16/2022
M4 11/29/2021 4/15/2022 11/19/2021 3/14/2022
P1 1/3/2022 5/20/2022 1/3/2022 5/2/2022
P2 1/3/2022 5/20/2022 1/3/2022 5/2/2022
P3 1/3/2022 5/20/2022 1/3/2022 5/2/2022
P4 1/3/2022 4/29/2022 1/3/2022 4/25/2022
MAS 1/3/2022 4/29/2022 1/3/2022 4/25/2022
All other COGS 1/3/2022 4/29/2022 1/3/2022 4/25/2022

Contact

NEOMED Financial Aid
Phone: 330.325.6286
Email: finaid@neomed.edu

Office

Location: B-206
Hours: 8 a.m. to 5 p.m, Monday through Friday

Scholarships & financial Aid

Office of Financial Aid