Financial Aid Disbursement Information
Your financial aid award(s) must actually be completed and credited to your account (not estimated awards), and you must have a credit balance in your account after fees have been satisfied for the semester before receiving a refund of excess aid.
Refund by e-Refunds (Direct Deposit)
Excess financial aid/scholarships for Summer 2018 will be direct deposited to your bank account beginning June 1, 2018 (Law School - May 11, 2018) and daily thereafter through the end of the semester for financial aid/scholarship awards that are disbursed after the initial eRefund noted above.
It is important that you sign up for eRefund on TigerXpress by May 28, 2018 (Law School - May 7, 2018).
If you receive financial aid/scholarship award amounts in excess of fees, you need to sign up online on TigerXpress to have your refund deposited directly to your bank account. Note that direct deposit authorization submitted to the Payroll Office is separate from direct deposit authorization for financial aid/scholarship disbursement.
Refund by Check
If you do NOT sign up for eRefund, check refunds will be mailed beginning June 8, 2018 (Law School - May 18, 2018), and every Friday thereafter through the end of the semester for financial aid/scholarship awards that are disbursed after the initial mailing noted above.
NOTE: For students who do not receive their refund checks in a timely manner, a stop payment (initiated through the Bursar's Office) cannot be processed until 2 weeks from the mail date of the check. The stop payment, re-issuance, and mailing of the replacement check takes approximately 10 days. It is recommended that you sign up for direct deposit to avoid this possible 3-4 week delay.
eRefunds are the fastest way to receive your excess financial aid/scholarship funds!
Financial Aid Disbursement Information for Students with Outstanding Debt
- Federal regulations require authorization from the student to use Title IV funds (i.e. federal financial aid) to pay prior term charges and current non-educational charges (e.g. parking tickets, library fines, etc.) within the same award year as the Title IV funds. Without your authorization, your federal aid will pay only current tuition, fees, Dining Dollars and dorm room charges. Federal regulations prohibit using current Title IV funds to pay any prior award/academic year outstanding charges. Your account will remain on hold until you pay all past due charges owed to The University of Memphis.
- Access and complete the Title IV Authorization Form online and submit to the Financial Aid Office, 103 Wilder Tower. Failure to do so will require payment in full of any outstanding charges and may result in a delay of processing financial aid excess refunds and/or deletion of classes. In addition to the Title IV Authorization Form, a repayment agreement may be required to be completed with the Bursar's Office.
- If above conditions are satisfied and/or if receiving non Title IV funds to pay outstanding charges, registration holds will be released beginning August 1 for Fall terms, December 1 for Spring terms, and May 1 for Summer terms. Grades/Transcript holds will not be released until account balance is paid in full.
- State Law prohibits the release of a registration hold for any student who owes debt to the University.
NOTE: First Time Borrowers must have completed an entrance interview and master promissory note in order for your funds to be disbursed to your student account and any excess to be refunded to you. For additional information, please contact the Financial Aid Office.