Disbursement of Funds Policy

Your financial aid disburses to your account after the semester has started. All your aid disburses directly to your McDaniel student account to pay all charges on the account first. If there is a credit balance on your account after disbursement, the excess will be refunded. Please contact the Bursar Office about the refund procedure.

In order for any student to be eligible for loan funds, s/he must be enrolled at least half-time (6 credits for all students) at both Freeze Date and at the time the loan funds are disbursed to the Bursar Office. For students whose classes are staggered, loan funds will not be released until you have reached 6 credits or more. There are several eligibility requirements that are associated with each particular type of financial aid. A student must be enrolled for required number of credits in order for the financial aid to be applied to the student account.

Scholarships, grants or loans from external sources will be posted as the funds are received by McDaniel College. Funds are posted weekly throughout the semester.