Federal and state financial aid and scholarships are disbursed in three equal installments during the fall, winter and spring of the academic year. If disbursement criteria are met, financial aid is disbursed to your student account about a week prior to the start of each quarter. This assumes that you have been awarded and have accepted your financial aid, have signed all required promissory notes for your loans and were registered for the minimum required credits.
Financial aid disbursed to your student account pays your tuition and other university fees including late charges. If the amount of your aid is greater than the charges on your student account, the difference will be refunded to you by the Student Accounts office. The Student Accounts Office is responsible for processing refunds from a student's account once financial aid has been applied. If you have questions about your bill, or your refund, please contact the Student Accounts.
If you participate in the Degree Partnership Program and are taking credits at another school as well as OSU, please note that your financial aid will apply to your OSU account, and pay any fees or charges owed to OSU. OSU does not have billing agreements with partner schools and does not transfer your aid for you, so be aware of what you owe the partner school!
Students who receive money from Federal Work-Study programs are paid wages for the hours worked during the pay period. These funds do not go toward paying student tuition and charges. Federal Work-Study funds are paid out through a regular paycheck which comes from the Payroll Department and are generally available the last working day of the month.
If you have direct deposit set up, your refund will be directly deposited to your bank account and should be available the first day of classes. You can sign up for Direct Deposit online through MyOSU in the Personal Information section. This is the quickest, most efficient way to receive your refund.
There are several ways in which your aid may be delayed. Here are the most common reasons:
- You may be required to complete Entrance Counseling and sign a Master Promissory Note (MPN) for your Ford Direct Loans. You would have been notified of these requirements via an email to your ONID email account.
- Dropping classes (below 12 for undergraduates, 9 for graduates). All students are assumed to be full-time unless they notify Financial Aid in writing that they will be less. If you are not enrolled at full-time and have not notified us, your aid will not disburse.
- Registering late for classes.
- Having unsatisfied requirements with your financial aid file that you have not completed.
You are responsible for managing your Financial Aid experience, so be sure to check MyOSU frequently and review any emails you receive from us as they may include requests for additional information or action. Call, email, or stop by if you have any questions, we are here to help you!