Once you have completed your Federal Direct Master Promissory Note and entrance counseling, your funds will be disbursed to the University in two equal installments (minus applicable fees) via electronic funds transfer no sooner than 10 days prior to the start of each semester. Loan proceeds are applied to your account balance. If funds are remaining after the account is paid, the Office of the Bursar will issue a refund within 14 calendar days either by directly depositing the funds into your personal account or mailing a check to your address on file. It is imperative that you make financial arrangements with your landlord and/or creditors in advance of the start of class. Refunds, in excess of your institutional charges, will be issued at the time your account is in a credit balance position, which is often well into the semester. We will make every effort to expedite your financial aid; however, please remember this is the busiest time of year for us and the Department of Education, so please try to be as timely as possible when submitting your paperwork.