Financial Aid Disbursements

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.

Please review the different sections below to learn how aid is disbursed at Liberty University.

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General Disbursement Information

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.

Disbursement Timeframe Examples

Example 1:

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

• If she were taking 3 hours in the B sub-term and another in the C sub-term, she could expect half of her Pell Grant to disburse in the B sub-term and the remainder in the C sub-term.
• If she were only taking 2 classes in the D sub-term, she could expect her full disbursement of Pell Grant in the D sub-term.
• Note: Enrollment and pro-ration of Pell Grant apply to all combinations of enrollment.

Example 2

An online undergraduate or master’s level student is planning to borrow federal loans. He is attending 3 hours in B sub-term and 3 hours in D sub-term. He meets all eligibility requirements and can expect his loan eligibility for the semester to disburse to his student account 21 days after his D sub-term class begins. His refund will be processed within 4 days after the funds are paid to his student account on the 25th day of enrollment. The refund will then be transferred to BM Technologies, Inc. for processing.

• If he were taking one class in each of the B, C, and D sub-terms, the prorated portion of his student loans for the B and C sub-terms would be disbursed 21 days after the C sub-term begins. The remainer of his semester loan eligibility would be disbursed 21 days after D sub-term begins.
• If he were only taking 2 classes in the B sub-term, his full semester loan eligibility would disburse 21 days after the B sub-term begins.
• If he were taking all residential courses, his loan would be disbursed 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 online D sub-term. The student is eligible for student loans and resident scholarships. The prorated portion of student loans for the resident 9 credit hours will be disbursed 21 days after the student begins the resident courses. The student’s scholarships and the remainder of the student’s loan eligibility will not disburse until 21 days following the start of the D sub-term. If there is a credit balance following any disbursement of aid, the process to refund the credit will begin on day 25.

Disbursement Loan Calculation Examples

Example 1:

Scenario:

• Program Level: Undergraduate
• Class Level: Senior (Dependent)
• Semester Loan Eligibility: $6, 250 Unsubsidized Loan
• Semester Course Schedule: two courses in the B sub-term (6 credit hours) and two courses in the D sub-term (6 credit hours)

Disbursement Calculation: The student will receive two separate disbursements.

• B sub-term Disbursement: 6 (B-term credit hours)/12 (total term credit hours) = 50%
  • $6,250 X 50% = $3,125 (B sub-term loan disbursement)
• D sub-term Disbursement: 6 (D-term credit hours)/12 (total term credit hours) = 50%
  • $6,250 X 50% = $3,125 (D sub-term loan disbursement)

Example 2:

Scenario:

• Program Level: Graduate (Masters)
• Class Level: N/A
• Semester Loan Eligibility: $6,765
• Semester Course Schedule: one courses in the B sub-term (3 credit hours) and one courses in the D sub-term (3 credit hours)

Disbursement Calculation: The student will receive one separate disbursement.

• B sub-term Disbursement: no disbursement will occur, since the student will not be enrolled at a half-time status yet.
• D sub-term Disbursement: 6 (D-term credit hours)/6 (total term credit hours) = 100%
  • $6,765 X 100% = $6,765 (D sub-term loan disbursement)

Refunds

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

Our school delivers your refund with BM Technologies, 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 SSB – Financial Aid. 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.