Receiving Aid and Disbursement

Disbursement CalendarGrant and Scholarship DisbursementRefund ProcessAdjustments to Initial Award PackageWithdrawals

The University Student Financial Assistance office disburses loans, aid, and Maryland scholarships to student accounts approximately ten days before classes begin. To receive aid, students must complete the required steps. Work-study payments are made biweekly. Disbursements to student accounts occur nightly after the term begins.

All students receiving funds through the University — including financial aid, merit awards, grants, and scholarships — must annually complete a FAFSA for the appropriate academic year through the Federal Student Aid website. 

  • The 2024-2025 FAFSA should be completed for students attending Summer 2024, Fall 2024, and Spring 2025. 
  • UMB School Code for FAFSA: 002104
  • All students seeking financial aid at UMB must complete the FAFSA each academic year.

Students should monitor their official UMB email and SURFS accounts for notification regarding financial aid eligibility and any outstanding financial aid requirements. All loan requirements must be completed before funds will be disbursed to the student account. 

View the 2024-2025 federal student loan interest rates for Direct Stafford LoansGraduate PLUS Loans and Parent PLUS Loans

If you have financial aid funds that exceed the charges on your student account at the time of disbursement, you will receive a refund, which may be used to pay other educationally related expenses. The refunds are processed by the Student Accounts Office. Visit for more information.

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 2023-2024 and 2024-2025 are available on SURFS. Additional award disbursement information for UMB can be found here.

The listed disbursement dates depend on getting a FAFSA on time and on the student accepting their aid offer. The student must complete and submit a Direct Loan Request Form. They must also complete any needed entrance counseling and promissory notes. These are listed in SURFS. Federal Student Aid must approve the loan. Students must also take at least six credit hours. They must also have no other federal student aid requirements. Please check SURFS to view any outstanding requirements.  

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 updated and borrowers will receive an email.

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. Private scholarships and other external awards are credited upon receipt by the Student Accounts Office.

Private scholarships and any other awards you may be receiving from independent sources will be credited to your account upon receipt of these funds by the Student Accounts Office.

Refund Process

Excess financial aid results in a refund processed by the Student Accounts Office. Adjustments may occur due to enrollment changes or additional funding. Loan processing delays are communicated via website announcements and emails to borrowers.

After disbursement, Student Financial Services initiates the refund process. Title IV regulations mandate loan refunds within 14 days, but UMB aims for 7-10 days. The refund file (list of all students expecting refunds) is generated and sent to BankMobile. Refunds are distributed by BankMobile based on the selected preference. This is typically four business days after the file is generated.

Money can be received in two ways: 

  • Deposit to an Existing Account - Money is transferred to an existing account the same business day BankMobile receives funds from UMB. Typically, it takes 1 – 2 business days for the receiving bank to credit the money to your account.
  • Deposit to a Bankmobile vibe Account – If you open a BankMobile Vibe checking account (upon identity verification), money is deposited the same business day BankMobile receives funds from UMB.

BankMobile advises recipients to rely on email notifications for refund updates. Mobile Alerts can provide real-time status updates. For further assistance, contact Student Financial Services.

Adjustments to Initial Award Package

Adjustments to the initial award package may be necessary if additional information is received that is different from the assumptions used to determine the original package. If you are receiving additional awards that are not 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 the FAFSA data may result in an adjustment to your financial aid package, including, but not limited to:

  • Review of your FAFSA due to verification.
  • Enrollment less than full-time (12 credits undergraduate/9 credits graduate). 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.
  • 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.


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.