Disbursements & Refunds
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 ten days before the start of each semester. Please note that the refund process begins within two weeks of the start of the semester.
- 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.
When will the loan funds disburse?
Listed below are the dates in which the loans disburse from the lender to the school. The refund process will begin within two weeks of the start of the semester. For information regarding the timing of your refund for living expenses, please refer to the Refunds section above.
|Full-time MBA Students|
|Summer (Summer Start only)||7/1/13|
|Langone MBA Students|
|Summer: Students who did not borrow loans in Summer 2012*||5/6/13 & 7/1/13|
|Summer: Students who borrowed loans in Summer 2012||7/1/13|
|Executive MBA Students|
|Summer*||5/20/13 & 7/1/13|
|BS/MS in Accounting Students|
|Summer*||5/6/13 & 7/1/13|
* Students who did not borrow loans previously in Summer 2012 will have two disbursements for summer 2013. The amount disbursed on each date will be half of the entire loan amount.
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 start of the semester. One exception is the summer. For the summer term, Langone MBA students who did not borrow loans in the previous summer will have two disbursements. The amount disbursed on each date will be half of the entire loan amount. Students who borrowed summer loans previously will have one disbursement date in July. Please see disbursement dates.
- 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: firstname.lastname@example.org 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.