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Financial Aid Disbursement

Please Note: Aid disbursements are made throughout the day. If you are expecting a disbursement, please allow the entire day for processing before contacting us for a status update.

Pell Grants

  • Offered only up to twelve credit hours each semester
  • Offered to undergraduate students only
  • Pro-rated disbursements based on sub-term enrollment (see example below)
  • Disburses 21 days after the student becomes eligible
  • Pays towards outstanding balance first
  • Must meet all federal eligibility requirements
  • Grant information page

 

Federal Loans

  • Must be enrolled at least half-time; six hours for undergraduate and masters, and three hours for doctoral studies
  • Disbursements based on sub-term enrollment (see example below)
  • Disburses 21 days after the student becomes eligible (actively attending at least half-time)
  • Pays towards outstanding balance first
  • Must meet all federal eligibility requirements
  • Loan information page

 

Liberty Aid

  • Disbursements based on enrollment
  • Disburses 21 days after the student becomes eligible
  • Resident scholarships require active enrollment in at least 12 credit hours or full-time status
  • Student must meet all Liberty Aid eligibility requirements based on the type of financial aid
  • Pays towards outstanding balance items first
  • May be subject to the General Scholarship Rule

 

Aid from Outside Sources

  • Outside scholarships disburse according to the Financial Aid Office’s standard disbursement policy of 21 days after the student meets all eligibility requirements
    • The scholarship organization or donor determines the scholarship amount, what charges the scholarship may cover, and whether any excess aid is refundable to the student.
  • For aid projection and billing information for each type of outside aid processed by the Financial Aid Office, please visit the External Aid webpage.

Annual Disbursement and Refund Dates

The chart below reflects the setup of a Liberty University Online semester (term) which consists of multiple sub-terms a student can enroll. Therefore, disbursement dates will differ among students’ aid eligibility and how they choose to enroll in their courses each term.

Examples

Example 1:

An online undergraduate student eligible for Federal Pell Grant is attending 3 hours in B and 3 hours in D. She can expect half of her Pell Grant to disburse 21 days after her first class in B begins and the remaining half 21 days after the beginning of D.

  • If she were taking a class in B and another in C, she could expect half of her Pell Grant to disburse in B and the remainder in C.
  • If she were taking 2 classes in D only, she could expect her full disbursement of Pell Grant in D.
  • Note: Enrollment and pro-ration of Pell Grant applies to all combinations of enrollment.

 

Example 2:

  • An online undergraduate/masters student planning to borrow federal loans is attending 3 hours in B and 3 hours in D. He meets all eligibility requirements and can expect the full loan to release to his student account 21 days after his D term class begins. His refund will be processed within 4 days after the funds are showing paid to his student account on ASIST on the 25th day of enrollment. The refund will then be transferred to BankMobile Disbursements, a technology solution, powered by BMTX, Inc. for processing.
  • If he were taking a class in B, C, and D, his loan would disburse 21 days after C began.
  • If he were taking 2 classes in B only, his loan would disburse 21 days after B began.
  • If he were taking all residential courses, his loan would disburse 21 days after the start of those courses.
  • Note: The half-time enrollment and 21 day criteria apply to all combinations of enrollment for all students and levels.

 

Example 3:

  • A resident student is enrolled in 12 credit hours, 9 hours are resident courses and 3 hours are in the D term through LU online.  The student is eligible for student loans and resident scholarships.  Student loans will disburse 21 days after the student begins the resident courses, but scholarships will not disburse until 21 days following the start of the D term. If there is a credit balance following any disbursement of aid, the process to refund the credit will begin on day 25.

Refunds

View refund information for timeframes and processing of refunds. The Student Accounts Office processes refunds.

Our school delivers your refund with BankMobile Disbursements, a technology solution, powered by BMTX, Inc. Visit this link for more information: https://bankmobiledisbursements.com/refundchoicessso/.

To view our contract, click here: https://www.vibeaccount.com/swc/doc/landing/1dxkim0r4rv9groakjy7


Reducing, Canceling, or Returning Loan Funds

If you have not received a refund from a loan credit balance and wish to reduce or cancel the loan disbursement or a future loan prior to disbursement, you should complete the electronic Federal Student Loan Change Form available in ASIST under “Financial Aid Forms.” You may make interest-only payments while in school.

If a refund has been paid from a student loan credit balance, the student can pay the refund to the applicable student loan servicer. Student loan servicer information is available on the National Student Loan Data System (NSLDS). Returned loan funds must be accompanied by a cover statement to indicate which loan(s) to amend and how the loans should be split, if applicable, for varying servicers.

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