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Disbursements and Refunds

Financial aid disbursements will automatically occur only if you meet the eligibility requirements for minimum number of enrolled hours, actual enrollment versus anticipated enrollment for the term, financial aid standards of academic progress, and financial eligibility.

Disbursement of financial aid funds to the Business Office is scheduled each semester to begin after attendance has been reported approximately two weeks after classes start. Funds are disbursed only after all the requirements of the various programs have been met.

Refunds are prepared by the Business Office after all debt to CBU is paid. You should log into Banner web to see if your aid has been credited to your account.

Information on direct deposit may be found on the Business Office Refunds website. When a refund from your student account is available it will be deposited to the bank account you have provided. Refunds via paper check can be mailed or picked up.

If you anticipate having a refund of financial aid funds, and you need those funds to pay for books and supplies, it is possible to obtain a book voucher from the Business Office. To receive this voucher you must have completed all of the steps needed to receive your financial aid and are waiting only for the processing of your application to be completed. This includes submitting verification materials, completing student loan entrance counseling and having completed the student loan Master Promissory Note (MPN). A book voucher is a credit applied to your CBU ID Card and can only be used at the CBU Bookstore. It cannot be used at off-campus or online bookstores.

You need to be enrolled at CBU in at least 6 hours as an undergraduate student and 5 hours as a graduate student for institutional, state, and/or loan aid to be disbursed. If you are enrolled in less than 6 hours, and you are eligible for the Pell Grant program, you may be eligible to receive this grant.

Your financial aid award is based your enrollment in classes at CBU. If you are registered for classes at another institution, these classes do not apply to your financial aid eligibility at CBU.

Following are the expected dates by which students may expect to receive their excess refunds.  After the dates published below, refunds are typically processed weekly on Tuesdays.

Term Expected Excess Refund Date 
Fall 2016 16-Week Classes September 16, 2017
Fall 2016 First 8-Week Classes September 16, 2017
Fall 2016 Second 8-Week Classes November 18, 2017
Spring 2017 16-Week Classes February 3, 2018
Spring 2017 First 8-Week Classes February 3, 2018
Spring 2017 Second 8-Week Classes           April 7, 2018
June Summer Term 2017 June 23, 2018
July Summer Term 2017 July 23, 2018