Financial Aid Disbursement
Spring  2017

The University of Arkansas has partnered with BankMobile, a division of Customers Bank, to deliver financial aid and other school refunds to University of Arkansas students. Students will be asked to make a refund delivery preference selection with BankMobile so that financial aid money and refunds can be delivered without delay.

All students will be asked to make a refund delivery preference selection from these options: 1) Deposit to your personal bank account, 2) Paper check sent via U.S. mail, or 3) Deposit to a BankMobile account.

For more information regarding disbursements, visit the refund and financial aid delivery information page.

Disbursements

Disbursement of financial aid and scholarships will begin on January 10, 2017. Refunds will begin three business days after financial aid is disbursed. If you have selected the paper check option, please verify your address with BankMobile before January 06, 2017. For more information visit the refund and financial aid delivery information page.

Students must meet all eligibility requirements for financial aid before any refund will be processed. The Treasurer’s Office will deduct all amounts owed to the University from the nonfederal excess funds. Federal funds may only be used for the following:

  • Current academic year tuition and fees (as described in Section 472 of the Higher Education Act) and housing.
  • Other current charges that a student has incurred for educationally-related activities if written authorization is received from the student (or parent in the case of a PLUS loan).
  • Prior award year charges for tuition and fees, housing, (and with permission, educationally related charges) for a total of not more than $200.00.

Disbursements made through the first eleven days of classes will be based on the actual enrollment. After the eleventh class day, awards and disbursements will be made based on the eleventh day enrollment. You will only receive credit for classes that you are enrolled in on the eleventh class day. Hours that are to be added by overrides will not count towards financial aid unless the override is completed and you are registered for the class before the eleventh class day.

For more information, please visit Fayetteville Policy 503.1.

Financial Aid Refunds

The University of Arkansas has partnered with BankMobile, a division of Customers Bank, to handle all of our refunding needs. Students will receive a bright green envelope from BankMobile. In this envelope you will find a personal code. You will need this code to select your refunding preference. Log in to www.refundselection.com, click on the “Let's Get Started” button and follow the prompts to set up your refunding preference. You may have the funds directly deposited into your personal checking or savings account or you may elect to have a paper check sent to an address that you designate. You may also elect to set up an account through BankMobile.

In the event that you do not receive the green envelope through regular mail or it is lost, please contact the Treasurer’s Office to request assistance.

CAUTION: Financial aid will only pay what is charged to a student account at the time financial aid is disbursed. If charges are incurred by the student after all financial aid has applied, the student will be responsible for the balance owed.

Disbursement Delays

Financial aid arrives at the Treasurer's Office via the Offices of Financial Aid and Scholarships. Until all processing requirements for a given type of financial aid are met by the student, the Offices of Financial Aid and Scholarships are unable to release the funds to the Treasurer's Office for disbursement. And financial aid received in the form of a paper check, requires an endorsement after it is in the possession of the University Cashiers Office before it can be disbursed. Listed below are some of the more common loans received by students and some of the processing requirements that are commonly overlooked.

Parent Plus Loans (PPL)

A Master Promissory Note (MPN) and Stafford Loan Entrance Counseling are required before funds can be disbursed. Once funds are received from Direct Loans and applied to the account, any surplus is returned to the parent in the form of a refund check.

Perkins Loan

A Master Promissory Note (MPN) must be signed and Perkins Entrance Counseling completed before funds can be disbursed. The entrance interview may be completed online. Students will be notified via their campus e-mail accounts requesting that they visit Student Loans to sign their master promissory notes. Completion of an MPN and Perkins Entrance Counseling are required once during a student's collegiate career.

Stafford (Subsidized or Non-Subsidized) Loan

A Master Promissory Note (MPN) and Stafford Loan Entrance Counseling are required before funds can be disbursed. Completion of an MPN and Stafford Loan Entrance Counseling are required once during a student's collegiate career.

Information

For complete processing information and requirements on the Parent Plus and Stafford Loans, visit the Office of Financial Aid. Processing information and requirements for the Perkins Loan can be obtained from the Perkins Loans page.

Important Deadlines
Deadline Spring  2017
100% Refund for Dropped Classes Jan 23
100% Refund for Withdrawal Jan 16
Payment Deadline (no payment plan) Jan 23
Financial Aid/Scholarship Disbursement Begins Jan 10
Payment Plan Last Installment Apr 24

Treasurer's Office

  • Arkansas Union Room 214
    University of Arkansas
    Fayetteville, Arkansas 72701
  • P 479-575-5651
  • F 479-575-8667
  • treainfo@uark.edu 

Operating Hours

  • Monday-Friday 8:00am-5:00pm