Disbursement of Financial Aid
Unless otherwise noted in your financial aid award package, financial aid is disbursed in two installments; one half for fall semester and one half for spring semester. (Summer semester financial aid is disbursed in one installment).
Approximately two to three weeks after each semester begins, your financial aid funds will be applied toward your institutional charges (including tuition, fees, books, and room and board). If you owe more than you are receiving in financial aid you will be responsible to pay the balance due by the fee payment deadline. If your financial aid total is greater than the balance you owe MSU the excess aid may be direct deposited in your personal bank account. Students who have not signed up for direct deposit will have an excess financial aid check available at the Business Office. Distance education students are highly encouraged to sign up for direct deposit to avoid delays in receiving any refunds.
We recommend that you have enough money to purchase your books and supplies necessary to begin the semester in case your financial aid funds are delayed.