Grants, scholarships, and loans administered by Student Financial Aid are applied to your student account to cover charges such as tuition, fees, university housing, dining plans, and other direct university charges. Typically, half of your financial aid is applied to the fall semester and the other half to the spring semester.
Students who are eligible for Federal Work-Study can work for an approved employer and receive a biweekly paycheck. Work-Study funds are not applied to the student account and do not appear as financial aid on the billing statement.
Requirements
For financial aid funds to be applied to your student account, you must:
- Meet financial aid enrollment requirements—generally, full-time (12 hours in the fall and spring semesters for undergraduate students)
- If selected, complete all required verification documents
- Complete any loan promissory notes
- Complete loan entrance counseling
Consent to Pay All Charges
Financial aid will automatically apply toward current tuition, required fees, and housing and meal plan charges. With a student’s consent, Mizzou can apply any excess federal financial aid to other current charges (such as bookstore charges, library fees, etc.).
You will be prompted with this option through your myZou account when you accept or decline your financial aid awards. If consent is declined, the student is still responsible for outstanding charges.
Disbursement
Assuming all requirements are met, accepted financial aid will begin disbursing to students’ accounts approximately 5 business days before the start of each semester’s classes. In accordance with federal regulations, federal financial aid will not pay outstanding charges from a prior academic year.
Monthly Disbursements
Some financial aid is disbursed in monthly installments throughout the semester rather than as a single amount. The first disbursement occurs no earlier than 5 business days before classes begin, with remaining funds disbursed on a monthly basis.
Student Refunds
If your financial aid exceeds your university charges, the balance will be refunded to you by mailed check or by direct deposit into your bank account. Visit the Cashiers Office refunds webpage for instructions on setting up direct deposit.
Parent Refunds
Refunds generated from a Parent PLUS Loan will be mailed to the applicant borrower by default unless the applicant sets up direct deposit in TouchNet as an Authorized User. Visit the Cashiers Office webpage on Authorized Users for more details.