Once a student's financial aid requirements are complete financial aid (which includes federal and institutional grants, scholarships, and loans as well as any private educational loans) is disbursed at the beginning of each semester for which the aid was awarded. To view the disbursement dates for the 2020-2021 Academic Year please see the chart below.
All student loan funds will be disbursed to your account no earlier than 10 days before the first day of class each semester. The time frame for disbursing loan funds cannot be changed; therefore, we recommend that you be prepared for any expenses (moving expenses, rental deposits, etc.) you may incur before your refund becomes available.
If your total aid exceeds the charges on your bill you will have a credit balance on your student account. You can request this credit balance, generally referred to as a refund, from the Bursar's Office via your MyNova account through the Bursar Dashboard: Student Refund Request. Please note that refunds are not issued until after the add/drop period of each semester. It is highly recommended that you set up e-Refund to get your credit balance direct deposited into your banking account. For instructions on setting up e-Refund please visit the Bursar's Webpage. Any questions regarding the V-Bill, amount due, billing/charges, refunds, and refund amount please direct them to the Bursar's Office.
Students have various options for receipt of direct payments from the University (credit balance refunds). Credit balance refunds can be electronically deposited in the bank account of the student’s choice, including:
- A financial account belonging to the student
(NOTE: Students are not required to open or obtain a financial account or access device offered by or through a specific financial institution in order to receive these payments.)
- Another financial account (such as an account belonging to a parent or guardian)
- If a student has elected to open an account with Wells Fargo, or has linked their Wildcard to a Wells Fargo account, that account may be (but is not required to be) used for credit balance refunds. Pursuant to federal regulations, the University is required to provide information on the major features and commonly assessed fees associated with these accounts, as well as the terms and conditions of each account. This information can be found on the Wells Fargo Information link. Wells Fargo account information.
Other options for receipt of credit balance refunds:
- Wildcard: Students who would like to have credit balance refunds deposited to their Wildcard must request this action in person in the Bursar’s Office in Kennedy Hall.
- Check (NOTE: If the student does not make an affirmative selection, a check will be issued in the student’s name and mailed to the permanent home address on file.)
Students may change their previously selected payment option by providing written notice of the change within a reasonable time.
If a student withdraws or requests a Leave of Absence from the University and has utilized Federal Title IV funds during the semester in which they withdraw, the Office of Financial Assistance will determine if any amount of funding will be returned to the Federal program(s) based on the federally mandated calculation. A withdrawal or Leave of Absence from the University is defined as a student who drops all of their courses after the add/drop period for that given semester. Please view the complete policy regarding Return of Title IV Funds. For information regarding tuition refunds due to a withdraw, please visit the Bursar's webpage.