Disbursement

When is financial aid disbursed?

Financial Aid will be disbursed in four equal payments. Assessments for tuition and fees will be billed to coincide with financial aid disbursement dates.

These are the earliest dates that funds will be disbursed. Funds will be posted to your student account after financial aid eligibility is confirmed and registration is finalized.

Disbursement dates 

If you enroll in a later starting course, funds will not disburse until at least just prior to the start of class. If you are not enrolled for the entire aid period, your cost of attendance, awards and disbursement dates may be adjusted.

In order to receive a financial aid disbursement:

• You must meet financial aid satisfactory academic progress standards (SAP).
• All grades must be recorded and reviewed from the prior semester before your financial aid eligibility can be determined for the new academic year. Missing grades from the prior academic year will delay your disbursement.
• If your registration status changes during the academic year, your aid may be reduced or canceled.

Aid will disburse after grades are received and reviewed.

2024-25 award year

Late financial aid filers will receive their aid approximately two weeks after they have:

• Submitted all requested documents or requests for additional information
• Enrolled at least halftime and begun attending classes
• Completed/signed all applicable loan promissory notes
• If a first-time federal student loan borrower, completed all applicable Entrance Counseling requirements.

Students on a leave of absence will receive financial aid after their leave ends and the above requirements are met. You are not eligible for any financial aid while on leave.

Note: You are expected to attend all courses for which you receive financial aid. If your participation is class cannot be verified, your aid may be adjusted or canceled.

How financial aid is disbursed

If you have met all requirements and have registered, you can expect your aid to be applied to your student account balance. Requirements include:

• "ACCEPT" your financial aid offer on Academica.
• Complete separate loan requirements for each type of loan borrowed. 
• Loans that you do not "ACCEPT" will remain in an "OFFERED" status and will not be disbursed.

See the Records and Registration webpage for payment options for any remaining account balance.

If your financial aid disbursement exceeds your student account charges (tuition and fees), a financial aid refund will be generated to you. The refund can be used to pay other expenses related to your education.

Federal Title IV authorization form

To authorize payment of other university charges
You must give authorization to the University to pay other charges if it is not one of the following: tuition, registration fee, student service fee, student support fee, fitness center fee, and/or contracted University room and board. Complete the Title IV Release Form online.

Refunds of excess aid

Financial aid will be credited to your student tuition account and applied to tuition, fees, and any residential housing charges. Students whose financial aid exceeds the tuition, fees and institutional charges on their WSU student account will receive the excess funds as a refund to pay other educational expenses.

When financial aid is disbursed

Financial aid is disbursed in equal payments during the year at the beginning of each semester. If your financial aid disbursement exceeds your student account charges, a refund will be generated for you.

How you will receive your refund

Wayne State University can issue your refund in one of two ways: (1) direct deposit into an existing U.S. checking or savings account or (2) paper check mailed to the address most recently placed on file with WSU. Please note: Refund checks are not available for pickup.

Enroll in direct deposit by logging into Academica. Select Financial Records, Direct Deposit Student Refunds and follow the instructions. A paper check refund will be generated only if you have an address on file with WSU. You must keep your address current via Academica. Refund checks are not available for pickup.

View your student tuition account in Academica to determine if a refund has been generated. More information is available on the Student Accounts Receivable website.