Disbursements are made on a semester basis. 

All financial aid eligibilty is credited to a student's account statement at the start of every term, or at the time the financial aid office is notified of departmental or outside funding. 

If a student recieves external scholarships or funding from a third-party (excluding loans), a student must notify the Office of Student Financial Aid and Scholarships by completing a Declaration of Additional Resources Form, which when processed, will apply to a student's financial aid notification. 

Refunds from financial aid are given when the aid you receive exceeds your UK charges. 

Students are provided the choice to have financial aid refunds deposited into their bank account or to have a refund check mailed to them. For more information about the refund process, click here. 

Students who elect to utilize direct deposit must maintain current direct deposit bank account information by signing into the myUK portal and following instructions on the Financials Tab.  Direct deposit refunds are processed 2-3 times each week allowing students rapid access to their money. 

Students who are eligible for federal Title IV credit balance refunds may utilize anticipated refunds to purchase required books and supplies prior to the seventh day of each term using their WildCard Student ID at the UK Bookstore.  Eligible students will receive email notifications before the start of the fall and spring semesters alerting them of when purchases may begin. 

The earliest to expect a refund is the week classes begin IF your aid (not including Pell Grant, CAP Grant, and KEES) exceeds your university charges AND you have completed all requirements. You may go to myUK > Financials > Financial Aid. The documents tab will tell you if requirements are incomplete. Other requirements are: 

• All aid must be accepted via the student's myUK portal.
• You must be registered as a full-time student (12 hours undergraduate and 9 hours graduate).  Only hours that count toward your degree are used to determine eligibility for financial aid.
• First time Federal Direct Loan borrowers must have completed Loan Entrance Counseling AND a Master Promissory Note.

Your aid will not credit until after the last day of to add a class, which is about 10 days after the first day of class. You must be enrolled at least half time (6 hours undergraduate or 5 hours graduate) to receive any loans - Direct Loans, Perkins Loan, Grad/PLUS or PLUS Loans. 

First time Federal Direct Loan borrowers are required to complete Loan Entrance Counseling and electronic Master Promissory Note (eMPN), prior to the disbursement of the loan. 

Pell Grants and CAP Grants begin crediting full-time students' accounts 10 days before classes begin.  Pell and CAP Grants will not credit until after the last day to add a class for part-time students.  KEES money will not credit until mid to late September for the fall semester and not until early February  for the spring semester. *Not applicable to Graduate/Professional students. 

A Health Professions Loan requires completion of entrance counseling and acknowledgment of disclosure of total loan indebtedness each year you are awarded this type of loan. In addition, first-time borrowers are required to complete a Promissory Note. These steps must all be performed electronically here. Electronic signature of the Promissory Note requires the pin number assigned to you by the federal government when you completed the FAFSA. The loan will not be released until after all requirements have been satisfied. 

Scholarships from agencies outside the University and from University departments arrive at different times and questions concerning when those will be disbursed should be directed to the agency who made the award. 

Alternative loan disbursements depend on when the funds are received. Once any of these funds are received, it usually takes one week to credit the student's account. 

Funds from the following programs will not credit students' accounts until mid- to late September: KY National Guard, Teachers Scholarships, or Robert C. Byrd Scholarships.