Initial disbursem*nt begins the first week of classes for the start of a new semester and continually after that every Tuesday and Thursday when aid is released to your student account.
Read the information on this page carefully to find out about how different types of financial aid aredisbursed, when you can expect to receive themand what you must do to receive your funds.
Requirements for Disbursem*nt
Financial aid is disbursed to students at the beginning of each term. Before your aid can be paid, you musthave a financial aid Award Notice and you mustcomplete the requirements below.
- Submit any requested documents: If you were asked to submit anyfollow-up documents for verification, you must provide them tothe Student Financial Aid Office.
- Credit hours: Inform our office if you will be less than fulltime and receiving loans. Loans require at least halftime enrollment. Keep in mind that: Some scholarships require full-time enrollment; being wait-listed does not count toward your enrollment level; you must enroll in a course by drop/add each term to be considered for financial aid for that course.
- Direct Loan Recipients: If you were awarded a loan you will need to complete a Master Promissory Note and Pre-Loan Counseling at studentloans.gov. If you have previously borrowed your promissory note remains valid for 10 years and you do not need to sign another oneunless you have been out of school forone year or more.
Enrolled Less than Full-Time?If you are not enrolled full-time by the end of drop/add, your aid will be adjusted and you will receive a revised award amounts reflecting your level of enrollment. You must be at least halftime to be eligible for loans. Submit a Loan Enrollment Verification form if you will be less than fulltime and receiving loans.
How Aid Is Paid To Students (Disbursem*nt)
Once you have completed the requirements above, you will receive your aid within two weeks.
Grants, Scholarships, and Loans
Grants, scholarships, and loans areapplied directly to your UNM Bursar’s Account to pay for tuition, fees, university housing, and other charges. Aid awarded for a specific term can only be used to pay for charges for that term and will only be disbursed to you during that term.
Work-Study Funds
Students earn Work-Study fundsby working in positions with eligible employers. Wages are typically paid bi-weekly through the employer's payroll system. Work Study funds are not disbursed in a lump sum rather students work for the funds For more information about the Work-Study program, seeWork-Study & Student Employment Jobs.
Private Scholarships
If you have a private scholarship check and the scholarship sponsor or donor sends funds to the university, the funds will be applied directly to your university student account, one-half in the Fall Term andone-half in the Winter Term, unless otherwise specified by the scholarship sponsor. Payments are usually processed within two weeks of the start of each term, upon full-time registration. If your signature is required on the check you will be notified via email with instructions on where to endorse the check.
If your scholarship sponsor sends your scholarship check directly to you,inform the Scholarship Office at 505-277-8900.
Refunds
If you have financial aid funds that exceed the charges on your student Bursar Account at the time of disbursem*nt, you will receive a refund, which may be used to pay other educationally related expenses. (Note that if subsequent charges are made to your account, you are responsible for paying them.
Your refund will be issued in the form of either a direct deposit into your bank account or a check mailed to your current address.
Set up Direct Deposit
The Office of Financial Aid recommends that students use Direct Deposit which is available through UNM’s Loboweb. It is the best way to ensure your aid funds are received in atimely manner. To have your financial aid refunds deposited directly to your bank account follow the instructions found here.
Additional Important Information
Parent PLUS Loans: If your parents are borrowing through the PLUS Loan program, they may elect to have any excess funds refunded either to them or to you.
Unwanted Loan Refund: If you receive a refund for a loan and you do not want the funds, you must cancel the loan by submitting a financial aid change form. Upon receipt of the form we will cancel the loans and return to the lender. Once the loan has been removed from your Student Account you can then make a payment to the Bursar’s Office to repay the cancelled loan.
If a balance remains on your student account, you are responsible for paying it even after receiving a financial aid refund.
Additional Disbursem*nt Information:
- How will I use my Financial Aid funds to pay my Bursar (Student Account) bill?
- What is Financial Aid Disbursem*nt?
- When will I receive my Financial Aid refund?
- Set up Direct Deposit with the Bursar’s Office or ensure that your mailing address is correct for the mailed refund check.
- Check your Bursar Account Suite Online
