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News: Information about excess aid disbursements

News: Information about excess aid disbursements

The projected date for disbursement of excess financial aid was Friday, Sept. 8.

The speed with which students receive refunds depends on whether they chose to receive them electronically or by paper check.

This timeframe only applies for students who currently have a credit balance. Students can check their account in RaiderNet. If you have a credit balance and do not receive your refund by Sept. 22, please call the business office at (865) 882-4515.

Reminders

Loans in general

Student loan disbursement dates vary per student based on class level, when the loan was processed, loan period, and other factors. Students receive a notice of loan disclosure from the Department of Education that contains the scheduled dates for disbursements of loans and the amount of the disbursement. Please refer to your notice of loan disclosure for details specific to your loan.

Refunds are processed within 3-5 business days of the date on the loan disclosure notice.

The document comes by mail from the loan servicer. You will also receive an email regarding instructions for completing the Master Promissory Note (MPN). Disbursements cannot occur without the MPN being completed.

Loans for first-time borrowers

First-time loan borrowers who are freshmen must wait 30 days after the start of the semester to be eligible for a refund. The refund may take a few days to process after the 30-day mark.

One-semester loan

Students get half at beginning of the semester. The other half is disbursed halfway through the semester.

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