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Disbursement

Each semester, grants, loans, and scholarships are disbursed to student accounts starting the 3rd Wednesday of the semester to pay off any University balances. If there are funds remaining, a reimbursement will be issued to the student. Disbursement and reimbursement dates are shown below for standard disbursement, summer disbursement, one semester only loans, and first-time loan borrowers. Dates are subject to change. Students are encouraged to complete their financial aid requirements early to ensure timely disbursement.

While reimbursements through direct deposit may take about 2-3 business days to process after disbursement, please be aware that check deliveries are dependent on distance and mailing service schedules/delays. 

Standard disbursement

The Office of Financial Aid and Scholarships will disburse financial aid on Tuesdays and Thursdays after the initial disbursement (3rd week of the semester).

 

Standard Disbursement

Fall 2020 Spring 2021
100% of funds disbursed to student accounts to pay University balances Sep. 2, 2020 Feb. 3, 2021
100% of grants, loans, and scholarships reimbursement available through direct deposit. Sep. 5, 2020 Feb. 5, 2021
100% of grants, loans, and scholarships reimbursement checks will begin to be mailed out by Student Accounts Receivable Office Sep. 5, 2020 Feb. 5, 2021

Summer disbursement

Summer 2021
100% of funds disbursed to student accounts to pay University balances Jun. 16, 2021
100% of grants and scholarships refund deposited Jun. 18, 2021
100% of grants and scholarships refund checks will begin to be mailed out by Student Accounts Receivable Office Jun. 18, 2021

 

One-semester only loans

One semester only loans will be split into two disbursements throughout the semester. 50% will disburse at the beginning of the semester, and the remaining 50% will disburse at the midpoint of the semester.

Fall 2020
(Only students graduating in fall 2020).
Spring 2021 Summer 2021
50% of loans disbursed to student accounts to pay university balances Sep. 2, 2020 Feb. 3,  2021 Jun. 16, 2021
50% of loan refund deposited Student Accounts Receivable Office Sep. 4, 2020 Feb. 5, 2021 Jun. 18, 2021
50% of loan refund checks will begin mailed out by Student Accounts Receivable Office Sep. 4, 2020 Feb. 5, 2021 Jun. 18, 2021
Remaining 50% of loans disbursed to student accounts to pay university balances Oct. 14, 2020 Mar. 17, 2021 Jun. 30, 2021
Remaining 50% of loan refund deposited by Student Accounts Receivable Office Oct. 16, 2020 Mar. 19, 2021 Jul. 2, 2021
Remaining 50% of loan refund checks will begin to be mailed out by Student Accounts Receivable Office Oct. 16, 2020 Mar. 19, 2021 Jul. 2, 2021

  

First-time loan borrower

Loans for first-time borrowers will disburse 30 days after the semester starts.

Fall 2020 Spring 2021 Summer 2021
100% loans disbursed to student accounts to pay university balances Sept. 16, 2020 Mar. 17, 2021 June 8, 2021
100% of loans refund deposited, or checks will begin to be mailed out by Student Accounts Receivable Office Sept. 18, 2020 Mar. 19, 2021 June 9, 2021

 

All students face uncertainty during their first semester. As you adjust your schedule during the first 30 days of the semester, this delay in disbursement will give the Office Financial Aid and Scholarships the flexibility to adjust loan amounts to better reflect your financial aid eligibility. This will reduce the need for collecting returned financial aid for courses that you may have dropped during this period, keeping your debt burden lower. Such a delay is standard in many financial aid offices.

NMHU Office of Financial Aid and Scholarships does not anticipate that this change will affect your ability to pay for books, tuition, and other university charges. Student Accounts Receivable Office is aware of this change and understands that you will be receiving loan disbursements later in the semester.

Reimbursements

If you have financial aid that exceeds the charges on your student account at the time of disbursement, you will receive a reimbursement, which may be used to pay other educationally related expenses. If subsequent charges are made to your account, after your financial aid has disbursed, you are responsible for paying those charges.

Students have a choice as to how they would like to receive their financial aid refund. Students are not required to open or obtain a financial account through a specific financial institution.

The following are financial aid refund options

Direct deposit

Direct deposit is the electronic transfer of funds to your personal bank account.

Direct deposit Authorization is available through the Student Accounts Receivable Office and is the university’s preferred way to pay your financial aid. It is also the best way to ensure your aid funds are received in a timely manner. To have your financial aid refunds deposited directly into your personal bank account, please complete the Direct Deposit Authorization. Please allow 1-2 business days to process your direct deposit authorization, For additional information and instructions, please contact the Student Accounts Receivable Office at sar@nmhu.edu or call 505-454-3444.

Paper check

For students who do not use direct deposit, a paper check will be issued. Due to COVID-19 policies, the Student Accounts Receivable Office will only be mailing checks. Checks are mailed out to the billing address listed on your student record.

If you receive a reimbursement check from the Student Accounts Receivable and subsequently lose, mutilate or destroy the check, please contact the Student Accounts Receivable Office at sar@nmhu.edu or 505-454-3444 for information on having a check reissued.