Disbursement & Refunds

Disbursement of financial aid is the process in which financial aid awards (scholarships, grants, loans, etc.) are applied to the charges on the students' accounts. Federal and state aid apply first to the charges on the student account, followed by institutional awards and/or any other type of aid or personal paymentsAs this process takes place, students may see changes to their anticipated aid, awards, and charges.

Due to federal regulations, eligible financial aid disbursements are applied to you student account no later than 10 business days prior to the start of instruction.

Financial aid is posted to student bills on the schedule below. You will not accrue late fees if your aid disburses on time and covers your entire bill. If your aid does not cover your bill, subtract your pending/anticipated aid from the amount you owe and pay the difference by the fee due date.

Note: Financial Aid funds cannot be applied to prior academic year charges. Students must pay charges billed in prior academic years independently from the financial aid disbursement processes.

Dates Financial Aid will Credit Student Bills

  2020-21 Academic Year
Fall September 22, 2020
Winter December 30, 2020
Spring March 22, 2021
Summer Session 1 June 14, 2021
Summer Session 2 July 19, 2021
Refunds are the extra funds that remain after your financial aid covers the charges owed to UC Santa Cruz. If eligible, these funds are directly deposited into your bank account if you have signed up for direct deposit. Otherwise, a check is generated and mailed to the permanent mailing address on file. These funds are intended to be used for educational purposes which include tuition, room and board, books and supplies, personal expenses and transportation costs.

It is possible for students who have received a refund to still owe a balance to the University. Changes in the student course load, charges added after a refund is generated, or a balance from a prior aid year or quarter that cannot be paid with current funds are all reasons a student may receive a refund but still have a balance and a hold on their account. 

 For additional information on the refund process and/or selecting your refund method, visit Student Business Services -  Refund Information