Financial Aid Disbursements and Refunds
| When payment of financial aid funds are applied to your University account, the award is said to have been 'disbursed' in Financial Aid. | |
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Disbursement Schedule |
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| Disbursements at Stony Brook begin after the start of each term. Not all awards disburse at the same time, as there are different disbursement dates for various types of awards. | |
| To view the scheduled disbursement date of an accepted award not yet disbursed for the term, you can click on the 'View Scheduled Disbursements' link under 'View & Accept/Decline FinAid' on the SOLAR. | |
| There can be a number of reasons why an award has not yet disbursed: | |
| 1. | It's before the scheduled disbursement date. |
| 2. | Outstanding financial aid "To Do List" items have not been completed (check "To Do List" items on SOLAR). |
| 3. | Outstanding financial aid "To Do List" items have recently been completed and requires 5-7 business days for processing. |
| 4. | For TAP or other New York State grants/scholarships: Award has not yet been certified by the Registrar's Office (check your SOLAR messages). |
| 5. | The award was recently accepted. |
| 6. | You withdrew, are not enrolled, or are enrolled for less-than the minimum requirement. |
| 7. | If it's an external award, the funds have not yet been received by the University. |
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Disbursement Refunds |
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| Once the disbursement has been applied to your University account, any resulting excess credit is refunded to you within 14 days by the Bursar's Office. | |
| The Bursar/Student Accounts Office now offers direct deposit for student refunds. Electronic deposits are secure, fast and convenient and you can avoid waiting to receive your refund check at the Bursar counter or in the mail. Refunds through direct deposit are processed daily and appear in your account within 3 business days. Enrollment for direct deposit is done via the SOLAR system. Please contact the Bursar/Student Accounts Office for additional information regarding the direct deposit refund process. | |
| You can view the status of your disbursed aid and any resulting refund by clicking on the "Account summary/What do I owe?" link under the Student Financial Services section of the SOLAR. | |
| For additional questions regarding your University account balance or refunds, contact the Bursar/Student Accounts Office. | |
| Cancellation of Disbursed Federal Loans | |
| You have the right to cancel all or a portion of your Federal Stafford, Grad Plus or Health Professions Student Loan, even after the loan funds have been disbursed and credited to your University account. If you wish to cancel or reduce an already disbursed loan for the current term, you must submit a written SIGNED request to Financial Aid prior to the end of the term. | |
| Adjustments to Already Disbursed Aid | |
| If changes are made to your financial aid package, it is sometimes necessary to bill you back for aid already disbursed and credited to your University account. | |
| Withdrawal from Stony Brook University and the Impact of Disbursed Federal Aid | |
| You may be billed for a portion or all of your federal financial aid if you withdraw from the University. It is therefore recommended that you contact the Office of Financial Aid and Student Services prior to withdrawing from the term to review the impact on your Federal aid as a result of withdrawing. | |
| Withdrawal from Stony Brook University and the Impact on State Aid | |
| Dependent upon the time of withdrawal, your eligibility for New York State Aid may be impacted. If you withdraw after 100% liability your eligibility to receive New York State Aid for the next term of attendance will be impacted. It is therefore recommended that you contact the Office of Financial Aid and Student Services prior to withdrawing from the term to review the impact on your State aid as a result of withdrawing. | |
