Instructional Leadership, emphasis: K-12 School Leadership (MEd)
Students working at the student union.
  1. NAU
  2. OSFA
  3. Financial aid disbursement

Disbursement of financial aid

How it works

Financial aid disbursement is the process of financial aid (scholarships, grants, loans, etc.) being released to your LOUIE account to pay for tuition and other university charges.

Order of charges paid

Charges on your account are paid for by disbursed financial aid in the following priority order, by due date:

  1. Tuition and fees
  2. Housing
  3. Meal plan
  4. Department/misc. charges

If you end up receiving more financial aid than you have charges on your account, you’ll get a refund in a direct deposit account. You can add a direct deposit account in LOUIE under “Finances” and “Edit direct deposit.” Otherwise, a paper check will be mailed to your address on file.

Disbursement timeline

  • Financial aid disbursements usually begin shortly before the start of classes each semester. Be sure all outstanding To Do List items are complete in LOUIE. Some items could prevent your aid from disbursing.
  • If you’re taking out your first loan, it might take 3–5 business days for your loans to disburse after completing the Entrance Counseling and the Master Promissory Note portions of your loan.
  • Refunds will be generated every Tuesday and Thursday after disbursement starts. If you signed up for direct deposit, please allow a minimum of 48 business hours after either Tuesday or Thursday for the refund to be reflected in your bank account. If the refund is mailed, it can take up to two weeks.

Check out the video below for more information on how and when financial aid disburses:

Tips

Student working on a computer.

Useful steps for disbursement

  • Please be sure all outstanding To Do List items are complete. These items may prevent your aid from being disbursed.
  • If you are a first time loan borrower at NAU, please allow 3–5 business days for your loans to disburse after completing Entrance Counseling and the Master Promissory Note.
  • Too big of a refund from your loans? Return the funds to your loan lender without penalty using the 14 Day Loan Return Form.
  • Federal loans (Sub, Unsub, and PLUS Loans) must be disbursed in the semester or semesters that they are awarded. NAU will not award loans for semesters or aid years that have concluded. For example, the spring semester ends in May. We cannot disburse a loan for that spring semester after the last date of instruction.
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