Disbursement
Refunds from financial aid are given when the aid you receive exceeds your UK charges. You now have the option of having your refund directly deposited into your checking account or having the check mailed to your current address in myUK. To request Direct Deposit go to the Student Billings site and complete the required form.
When will I get a refund?
The earliest to expect a refund is the week classes begin IF your aid (not including Pell Grant, CAP Grant, ACG, SMART Grant and KEES) exceeds your university charges AND you have completed all requirements. You may go to myUK , go to Financials and then Financial Aid and the Documents tab will tell you if requirements are incomplete. Other requirements are:
- All aid must be accepted
- You must be registered as a fulltime student (12 hours undergraduate and 9 hours graduate)
- First time Direct Loan borrowers must have completed Entrance counseling at DirectLoan AND the electronic master promissory note at Direct Loans Master Promissory Note
- First time Perkins and Health Profession Loan borrowers must attend an Entrance Counseling session to sign a promissory note. Go to Student Billing site for the schedule. Previous borrowers must complete the online Entrance counseling at the above site.
What if I am not a fulltime student?
Your aid will not credit until after the add/drop period ends, which is about 10 days after the first day of class. ACG and SMART Grant and Catalyst Scholarship recipients must be fulltime to receive the award.
When will my Pell Grant, CAP Grant, Catalyst Scholarship and KEES money credit?
Pell Grants, CAP Grants and Catalyst Scholarships will not credit until after the add/drop period. Typically these funds will credit 10 days after classes begin. KEES money will not credit until mid to late September.
What if I'm waiting on a refund check to buy books? I can't wait 2 weeks into classes!
If the aid you are receiving exceeds your University charges the Financial Aid Office can set up a PLUS account that you can use to buy books. The charges on your PLUS account will be paid when your financial aid credits your student account. You must come to 127 Funkhouser to see if you qualify. The earliest this can be done is the week prior to the start of classes.
Why hasn't my scholarship, graduate aid or alternative loan credited my account?
Scholarships from agencies outside the University and from University departments arrive at different times and questions concerning when those will be disbursed should be directed to the agency who made the award. Alternative loan disbursements depend on when the funds are received. Once any of these funds are received, it usually takes one week to credit the student's account.
Funds from the following programs will not credit students' accounts until mid to late September: KY National Guard, Teachers Scholarships or Robert C. Byrd Scholarships.