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Disbursement Process

Disbursement of Funds

When a student accepts his or her financial aid disbursement (payment), he or she is agreeing to the Terms and Conditions of his or her financial aid award.

Financial Aid Disbursements for a term begin 10 days before the first day of class.

The disbursement will be paid to a preferred bank account if the student has completed the procedures for Direct Deposit*. Otherwise, a student must allow a minimum of 5 business processing days for a check to be prepared and for the US Post Office to deliver the check to the mailing address of record.

Make-up disbursements (for payments not made during the above scheduled dates) occur at least twice weekly throughout the academic year.

There could be several reasons why a student misses the first disbursement of the semester (this is not an exhaustive list):

  • Problem with admission status
  • Late enrollment
  • Direct Loan requirements not completed (MPN not signed and/or online workshop not completed, etc.)
  • Financial aid hold
  • Did not meet Satisfactory Academic Progress
  • Not Enrolled
  • Other

*It is recommended that the student enroll in the direct deposit program to expedite the receipt of funds. The process is easy and completed right from the MyCoyote Student Self-Service account. On the homepage select Student Center/Finance/Enroll in Direct Deposit. On the Direct Deposit page, select checking or savings, enter your bank routing and account numbers, agree to Terms and Submit. You will need to confirm your information before the enrollment process is completed. Once you have successfully completed the process, your financial aid disbursement (payment) will be automatically credited (paid) to your designated bank account.