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Loan Periods, Disbursements, & Refunds

What is a loan period?

A loan period reflects the portion of the academic year for which the loan is requested.
 

Program Summer '16 Fall '16 Spring '17
Full-time MBA  7/11/16 - 8/17/16
(Summer Start)
9/6/16 - 12/22/16 1/30/17 - 5/16/17
Langone MBA 5/14/16 - 9/18/16 9/19/16 - 12/21/16 2/6/17 - 5/8/17
Executive MBA 5/23/16 - 8/14/16 8/21/16 - 12/17/16 1/6/17 - 5/6/17
MS in Business Analytics 5/15/16 - 8/13/16 9/19/16 - 12/11/16 TBD
MS in Risk Management 5/22/16 - 8/13/16 9/13/16 - 01/09/17 1/10/17 - 4/10/17
BS/MS in Accounting 5/23/16 - 8/11/16 N/A N/A
Advanced Professional Certificate in Law and Business 6/20/16 - 7/29/16 N/A N/A
Advanced Professional Certificate  5/14/16 - 9/18/16 9/19/16 - 12/21/16 2/6/17 - 5/8/17

When will the loan funds disburse?

*New Federal Loan Disbursement Guideline beginning Summer 2016*
Listed below are the earliest possible dates in which the loans** disburse from the lender to the school. The refund process will begin within two weeks of loan disbursement. For information regarding the timing of your refund for living expenses, please refer to the Refunds section above.

Full-time MBA  
Summer 2016 (Summer Start only) 7/1/16
Fall 2016 8/27/16
Spring 2016 1/20/17
 
Langone MBA  
Summer* 2016 5/4/16 & 7/1/16
Fall 2016 9/9/16
Spring 2016 1/27/17
 
Executive MBA  
Summer* 2016 5/13/16 & 7/1/16
Fall 2016 8/11/16
Spring 2016 12/27/16
 
MS in Business Analytics  
Summer* 2016 5/5/16 & 7/1/16
Fall 2016 9/9/16
Spring 2016 TBD
 
MS in Risk Management  
Summer* 2016 5/12/16 & 7/1/16
Fall 2016 9/3/16
Spring 2016 12/31/16
 
BS/MS in Accounting  
Summer* 2016 5/13/16 & 7/1/16
 
Advanced Professional Certificate in Law and Business  
Summer* 2016 6/10/16 & 7/1/16
 
Advanced Professional Certificate
Summer* 2016 5/4/16 & 7/1/16
Fall 2016                                                   9/9/16
Spring 2016                 1/27/17


* Students will have two disbursements for summer 2016. The amount disbursed on each date will be half of the entire loan amount.
** Per NEW Federal loan disbursement guidelines, please be aware that the first disbursement will be approximately ten days before the start of your first class and the second disbursement will be after July 1st.

 

How does the school receive the loan funds?

  • Fill out a Tuition & Fees Payment Worksheet for the Stern Bursar by your established payment deadline. Upon receiving your form, the Bursar posts loan "credits" on your account for your approved loans. The balance, however, will not be cleared until the money is received from the lender.
  • In compliance with federal policy, all loan funds are disbursed directly to the Stern Bursar. Please note that the refund process begins within two weeks of loan disbursement.
  • The federal government, along with most private lenders, disburse loan funds via an electronic funds transfer (EFT) system. Only in special cases where a paper check is used, will you be notified by the Stern Bursar to come and endorse the check.
  • Loan funds received in excess of your total charges will be refunded to you, either by check or via direct deposit.
  • Keep in mind that if you have received a social security number after enrolling at NYU, please update it with Stern Records and Registration. The loan funds cannot be applied properly if your social security number is missing or is incorrect.

How does the refund process work?

  • Funds received by NYU that are beyond tuition and fees will be returned to the student in the form of a refund check.
  • Refunds are processed once the loan funds have been received by the Bursar and credited to your account.
  • The refund process usually begins within two weeks of the loan disbursement. One exception is the summer. For the summer term, graduate Stern students will have two disbursements*. The amount disbursed on each date will be half of the entire loan amount. Please see disbursement dates for details on the New Federal Loan Disbursment Guideline.
  • Please go to the Stern Bursar's website to set up direct deposit if you wish to have your refund deposited directly into your personal bank account.
  • If you do not have direct deposit, the refund check will be mailed to your local address.
  • Please contact the Registrar to make sure your local address is correct. Once school has begun, you may change your address through the Stern Web Information System, via e-mail: registrn@stern.nyu.edu or via the Address Change Form.
  • Due to the high volume of refunds at the beginning of each semester, we highly recommend that you have sufficient funds to cover living expenses for at least your first month of classes for the summer, fall, and spring semesters.

* Summer financial aid is released in two disbursements. The first disbursement is approximately ten days before the start of your first summer class and the second disbursement is after July 1st. Please view your individual class schedule to determine the date of your first summer class, which your disbursement will be based on. Your first disbursement will first cover any items on your Stern Bursar's bill and if any funds are left over it would be issued to you as a refund to use for other educational related expenses. If your first disbursement does not cover your entire bill, then any refund you may be expecting would not be issued until after the second disbursement.