Disbursements and Aid Adjustments

Disbursement CalendarGrant and Scholarship Disbursement | Adjustments to Initial Award PackageWithdrawals

The University Student Financial Assistance office disburses federal loans and institutional aid to student accounts approximately one week before classes begin. To receive aid, students must ensure that all requirements have been completed. Work-study payments are made directly to the student on a biweekly schedule. 

Accepted financial aid funds (federal loans and most grants/scholarships) are disbursed to student accounts following the disbursement schedule below, based on a the program start date. Funds are first applied directly to any outstanding balance for current term. Disbursements occur on a nightly basis for funds to post to student accounts. 

The University Student Financial Assistance office is obligated by federal regulation to ensure that students are not receiving aid that exceeds their total cost of attendance. Financial aid previously disbursed may be adjusted due to changes in the student’s enrollment load, residency reclassification, or a receipt of additional funding.

Disbursement Calendar

Loan disbursement dates for the 2024-2025 academic year are available on SURFS. Additional award disbursement information for UMB can be found here.

The listed disbursement dates are contingent upon successful receipt of a valid FAFSA in a timely manner prior to the start of the term, acceptance of aid through SURFS, completion of all financial aid requirements, and loan approval by Federal Student Aid. Students who have accepted loans must submit a Direct Loan Request Form, complete any required entrance counseling and/or Master Promissory Notes (MPNs) listed in SURFS. Students must also be properly enrolled at least half-time as determined by their program. 

 

Program Term Date *
All Summer Programs  Summer Only 06/03/2024
All Summer/ Fall Programs Summer/ Fall 06/03/2024 - 08/20/2024
All Summer/ Fall/ Spring Program Summer/ Fall / Spring 06/03/2024 - 08/20/2024 - 01/06/2024
Summer/ Fall/ Spring - LawLaw - JD  Summer/ Fall/ Spring 06/03/2024 - 08/17/2024 - 01/03/2025
MSW Summer/ Fall/ Spring - MSW  06/03/2024 - 08/17/2024 - 01/13/25
Dental Years 3 and 4 Fall 05/28/2024
MPH** Fall 05/28/2024
MD years 3 and 4 Fall 07/05/2024
Dental Post Grad Fall 07/05/2024
Dental Hygiene 4th year Fall 07/05/2024
Dental Years 1 and 2 Fall 08/12/2024
Law 1st year Fall 08/21/2024
MD 1st year Fall 07/31/2024
MD 2nd year Fall 07/31/2024
Pharm D Fall 08/21/2024
Nursing, Graduate School, Med Tech, MPH, Genetic Counseling, DH 3rd year, Continuing Law, MSW Fall 08/21/2024
Medicine, Dentistry, Dental Post Grad Spring 01/03/2025
Law Spring 01/06/2025
Pharm D Spring 01/14/2025
All Other Programs that are fall/spring Spring 01/15/2025
Spring Only Admits Spring 01/17/2025

**Does not apply to MPH dual degree programs. 

If any mass delay occurs pertaining to loan processing, the announcement section of our website will be be updated with new disbursement information.

Downloadable PDFs: 

2023-2024 Loan Disbursement Information ICON ON PUBLISH

2024-2025 Loan Disbursement Information ICON ON PUBLISH

Grant and Scholarship Disbursement

Federal Pell Grant and the Howard P. Rawlings Educational Awards are credited after the freeze date, which locks registration and determines grant amounts. This is typically mid-September for the fall term and mid-February for the spring term. Private scholarships and other external awards are credited upon receipt by Student Financial Services.

Maryland state scholarship awarded through the Maryland Higher Education Commission are typically certified in MDCaps and posted to student aid packages once the term has started. This process continues on a weekly schedule throughout the term. 

Refund Process

After aid has been disbursed and applied to the UMB student account, if the financial aid amount exceeds the term tuition and fee charges, the student will be issued a refund of the remaining funds. These funds may be used to assist with other related educational costs, such as living expenses and books. Refunds are initiated  and posted by Student Financial Services. More information about their process and policies can be found on their Disbursements and Refunds page. 

Adjustments to Initial Aid Offer

Adjustments to the initial aid offer may be necessary if additional information is received that is different from the assumptions used to determine the original aid package. If you are receiving awards that are not already included in your financial aid package, you must notify our office. Awards that may affect your eligibility include, but are not limited to, state scholarships, private scholarships, tuition waivers, and assistantships.

Please note that any changes to FAFSA data, enrollment, and/or residency may also result in an adjustment to your financial aid package. Changes that may warrant an adjustment to the initial aid offer include, but are not limited to:

  • Updates to your FAFSA due to verification.
  • Enrollment less than full-time as determined by your program. We recommend that you contact our office to discuss how part-time enrollment may impact your award(s). (Please note students must be enrolled in at least six credits to receive a Federal Direct, Parent PLUS, or Graduate PLUS Loans.)
  • Corrections made by staff due to conflicting university data.
  • Late notification of an additional award not already accounted for in the initial aid offer. 
  • Dropped courses.
  • Withdrawal from the university.

You will receive an electronic notification each time your award package has been adjusted.

Note: Award disbursement and student account summary information is available on SURFS.

Student Requests for Loan Adjustments

Students may also request adjustments to accepted loans during the designated loan adjustment periods for each term. Using the Loan Adjustment Request Form, students can request a loan increase, decrease, or return. A financial aid counselor will review the submitted request form to determine eligibility and will contact the student with additional information. The loan adjustment dates for each term will be published on the main page once finalized and the form will also be available under the Forms and Resources

Increases

Students who have not accepted the full loan amount offered can select this option to increase their loan. Approval is based on the student's cost of attendance, enrollment, and remaining loan eligibility. 

Returns

Students may request to return loan funds that have disbursed for the current term only. Returns cannot be processed for funds disbursed in prior terms.  Due to the short timeframe, the office does not process returns for loan funds disbursed during the summer term. 

Loan funds that are returned through this process eliminates any accrued interest and loan origination fee, as if that loan amount was never borrowed. 

Decreases

Students may request a decrease to a portion of a loan that has not yet disbursed. This applies to requests made in the fall term to decrease the spring portion of a loan. 

Withdrawals

Students who drop credits, who are reclassified as Maryland residents for tuition purposes, or who officially withdraw from the University may be entitled to a refund of tuition and fees for the semester. The refund schedule is published by the Registrar's Office. If financial aid has been credited or otherwise disbursed to a student who is subsequently due a refund, part or all of the refunds may be reclaimed and redeposited in the appropriate aid account. The refund policy is published in each school catalog.

Students who withdraw from the college before 60 percent of the semester has been completed will have their financial aid recalculated based on the period of time in attendance for the term. Federal regulations require that a percentage of federal Title IV financial aid funds be returned as repayment for non-completion of the semester. The Student Accounts office calculates the amount of funds to be returned based on the Department of Education’s repayment formula. Copy of the Title IV Refund/Repayment formula calculation.