Aid disbursement

How financial aid disbursement works

Financial aid disbursement is the process of releasing your scholarships, grants, loans, and other aid to your LOUIE account to cover tuition and other university charges.

What gets paid first?

When financial aid is disbursed, it’s applied applied to these charges in date order:

1. Tuition and fees
2. Housing
3. Meal plan
4. Departmental or miscellaneous charges

If your financial aid covers all your charges and there’s money left over, you’ll receive a refund within 1 to 3 business days.

• Direct deposit is the fastest way to get your refund. Add your bank info in LOUIE under “Finances” > “Edit Direct Deposit.”
• If you don’t set up direct deposit, a paper check will be mailed to your address on file (which can take up to two weeks).

When does financial aid disburse?

• Disbursement begins a maximum of 10 days prior to the start of each term.
• Make sure all To Do List items in LOUIE are completed—missing items can delay your aid.
• If you’re taking out loans for the first time, your aid won’t disburse until you’ve:
  • Completed entrance counseling
  • Signed your Master Promissory Note (MPN)
• After those are complete, allow 3–5 business days for your funds to disburse.
• Refunds are processed every Tuesday and Thursday once disbursement begins.
  • If you’re using direct deposit, allow at least 48 business hours after those days for the funds to appear in your account.
  • If receiving a paper check, expect delivery within two weeks.

Important reminders about loans and disbursement

• Complete your To Do List in LOUIE—unfinished items can delay your financial aid.
• First time taking out a loan at NAU? After you complete Entrance Counseling and the Master Promissory Note, it can take 3–5 business days for your loan to be disbursed.
• Got a larger refund than you need? You can return extra loan money without penalty within 14 days using the Loan Return Form.
• Timing matters: Federal loans (Subsidized, Unsubsidized, and PLUS) must be disbursed during the semester they’re awarded. For example, if spring semester ends in May, loans can’t be disbursed after that date.

Questions? We are here to help!

Contact Financial Aid about any follow-up questions you may have.

Phone: 928-523-4951

Email: Financial.aid@nau.edu