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Disbursement Information

Financial aid will be posted to your  account once all required steps have been completed and eligibility has been determined. However, funds may disburse (be applied to) the charges on your student account at a later time. Unless specifically directed by the awarding agency, aid will be disbursed to the student account after the 11th day of class. To view disbursements on your student account, you will need to log in to your My.AV¶¶Òõ account, then click:

  1. Students
  2. Banner Self-Service
  3. Student Accounts
  4. Account Detail

Disbursed aid will appear in the top portion under the payment column of the Term Detail.

NOTE: Once funds have been disbursed, those funds will no longer appear as Pending Aid.

Federal Pell Grant Disbursement Information

Federal Pell Grant (Pell) funds will be disbursed to the student account based on the dates of the student’s enrollment. If a student is only enrolled in full-term courses, all eligible Pell funds will be disbursed after the 11th day of class. If the student is enrolled in any courses that begin at any other point within the semester, a partial amount of eligible Pell funds will not be disbursed until that student begins attending those late-starting courses.

Federal Loan Disbursement Information

Federal loans may be disbursed on or after the 11th day of class. Students must satisfy all of the requirements for federal loans before those funds may be disbursed. All federal loans will be disbursed in two disbursements. For a full-year federal loan, the first disbursement would be within the fall semester and the second disbursement would be within the spring semester. If a student has a single-term federal loan, that loan will generally disburse half on or after the 11th day of class, and the other half would be disbursed after midterm grades are posted.  For more information regarding the requirements for federal loans, please visit our Federal Direct Loans and Federal PLUS Loans webpages.
 
The first loan disbursement for a first-year, first-time borrower is delayed by 30 days.


NOTE: If a student will not have half-time enrollment status until a late-starting course begins, the federal loan funds will not be disbursed until that student begins attending that late-starting course. If the student drops the late-starting course prior to attending, the student will not qualify for those federal loan funds.

Refund Information

A refund will be generated on your account if you are scheduled to receive more refundable financial assistance than you have in allowable charges on your student account.

To view refunds on your student account, log in to your My.AV¶¶Òõ account, then click:

  1. Students
  2. Banner Self-Service
  3. Student Accounts
  4. Account Detail

Refunds will appear in the top portion under the payment column of the Term Detail.

When Can I Expect My Refund?

  • Direct deposit refunds typically appear in your bank account within 24-48 hours from the time the refund is posted to your student account. You will receive a notification in your AV¶¶Òõ email account when the direct deposit information has been sent to your bank. 
  • Paper check refunds are typically processed once a week, which may delay the receipt of your refund due to processing and postal service. Refund checks lost in the mail will not be re-issued until 10 business days after the original check was mailed out.

Direct Deposit Information

Students may set up direct deposit for refunds from their AV¶¶Òõ student account. This allows students to receive their refund more quickly than waiting for a paper check to be mailed.

NOTE: Direct deposit should be set up at least 24 hours BEFORE your refund is posted to your student account. If not, you will be issued a paper check.

To Set Up Direct Deposit

  1. Log in to My.AV¶¶Òõ
  2. Click Student
  3. Click Banner Self-Service
  4. Click Online Business Center
  5. Click Set Up Refund Direct Deposit
  6. Enter your banking information