Receiving : Disbursements
The University Bursar (formerly University Financial Services) in S-113 Criser Hall disburses aid to students only after verifying enrollment status. Some financial holds, such as a returned check, may stop the disbursement process.
Financial aid may not be used to pay prior-term tuition fees.
UF now requires that all students receiving financial aid sign up for direct deposit.
Direct Deposit is the quickest and safest way to receive your financial aid refunds.
Please direct any questions about direct deposit to the University Bursar (UB) at (352) 392-0737.
All unpaid tuition/fees and housing charges are deducted from students’ financial aid before disbursement. However, the university is required to obtain permission from students to allow federal aid to pay charges other than tuition, fees, housing, and books. These charges, such as meal plan, laser prints, health care services, parking decals, tickets, etc., are known as non-institutional fees.
On ISIS, students will see a page under “Financial Services” called “View Student Permissions.” This is where students can authorize payment of all UF charges from federal aid. From there, students will be directed to myUFL, where they should choose “Access Permission Forms.”
Instead of receiving a check for your financial aid, your aid funds are deposited electronically into your checking account at the bank of your choice. A written notification or e-mail is sent to you each time a transfer is made to your account.
- Delivered directly to your account within 24 hours (next business day service).
- Mailing address problems are eliminated.
- No more standing in line at your bank to deposit your check.
- Protection against theft or time delays caused by lost checks. Lost checks take about eight weeks to replace.
- No more worries if you are out of town or don’t have time to pick up your mail.
- The university can direct deposit to any financial institution within the USA with electronic funds transfer capabilities.
- A large majority of banks participate in the electronic funds transfer network.
- Contact your bank if you have questions about its ability to accept direct deposit.
- To sign up, go to myUFL and select “Access myUFL” to login. On the top toolbar, select “Main Menu.” Choose “My Campus Finances,” then “Student Direct Deposit.”
- You can sign up any time throughout the semester.
- It takes only 24 hours for your authorization to take effect if you sign up online. It takes about three weeks if you use the Direct Deposit Authorization form.
- Signing up will not delay or affect your financial aid or fellowship disbursements.
NOTE: Direct deposit is not available for the Federal Direct PLUS (Parents Loan) Program, or for savings accounts. If you have any questions about Direct Deposit, please visit the University Bursar (UB) in S-113 Criser Hall, or call the UB at (352) 392-0737.
- First-time Borrower Entrance Counseling
Before loans can be disbursed, first-time Federal Direct Loan and Federal Perkins Loan borrowers must complete Entrance Counseling. To complete entrance counseling, go to www.studentloans.gov. First-time Perkins Loan borrowers are mailed information by the University Bursar about completing online Entrance Counseling. For more information, contact UB at (352) 392-0737.
- Federal Perkins Loan Disclosure/Acceptance
Perkins borrowers must complete disclosure statements and accept each term’s award before their funds for that term can be released. Perkins Loan “disclosures” are completed on ISIS under “Financial Aid” under “Aid Status.” Perkins Loan “acceptance” is done on ISIS under “Financial Aid” under “Awards and Disbursements.” Complete this requirement as soon as possible to ensure that your funds are disbursed at the beginning of the appropriate term. For information contact the University Bursar, S-113 Criser Hall.
- Federal Direct Stafford Loan Acceptance
Stafford Loan borrowers must “accept” each term’s award on ISIS before their funds can be released. Under “Financial Aid” for the appropriate academic year, choose “Awards & Disbursements.” Complete this requirement as soon as possible to ensure that your funds are disbursed at the beginning of the appropriate term. Students may also reduce or cancel Direct Stafford Loans on ISIS. If you are sure you don’t want to receive a loan, please cancel it.
- Federal Direct Stafford Loan Master Promissory Notes
Previous Direct Stafford Loan borrowers should already have a Master Promissory Note (MPN) on file. New borrowers who do not have an MPN on file must go to the Federal Student Loan Web site to complete one.
- Federal Direct PLUS Loan Master Promissory Notes
New Parent PLUS and Graduate PLUS borrowers who do not have a PLUS Master Promissory Note (MPN) on file must go to the Federal Student Loan site to complete one.
- Federal Direct Loan Processing
Before your Federal Direct Loan can be disbursed, your loan data must be transmitted to the Federal Department of Education (DOE) for approval. This process takes about six working days after UF awards you a Direct Loan. Once your loan is approved, DOE will send you a disclosure notice. Your loan can be disbursed after the loan is approved and you have met all other requirements for disbursement.
- UF Long-Term Loan Promissory Notes
Borrowers of a UF Long-Term Loan will receive a promissory note by mail from the University Bursar. Promissory notes must be signed and returned to S-113 Criser Hall before the loans can be disbursed.
- Federal Work-Study
If Federal Work-Study (FWS) is part of your financial aid, you will be paid for hours worked on a biweekly schedule, in accordance with the UF payroll schedule.