Receiving Your Aid - How Aid is Disbursed

1. Direct Loan Disbursements
   The Department of Education electronically transfers (EFT) your loan funds to UM. Loans disbursed by EFT will be credited directly to your student account.


2. Grants, Scholarships and Perkins Loans
   Grants, Scholarships, and Perkins Loans cannot be disbursed until you are enrolled for the required number of credits and all required forms have been received and processed. If you are sufficiently enrolled, most grants, scholarships, and Perkins Loans will be credited directly to your student account several weeks before the start of each semester. Part-time aid cannot be credited to your account until after the end of the Schedule Adjustment Period.


3. Remaining Charges & Financial Aid Refunds
   If your total charges exceed your total financial aid, you must pay the balance by the due date listed on your bill. If your total aid exceeds your total charges, we will send or direct deposit the excess funds to you as a refund.


4. Direct Deposit of Refunds
   To register to have your refunds directly deposited to your personal checking account, please request an authorization form from the Financial Service Center at 301-314-9000, or billtalk@accmail.umd.edu.


5. Earning Federal Work-Study (FWS) Awards
   Work-Study Awards will not be credited to your student account. If you accept a FWS award, we will send you a Work Authorization form and information on how to find and apply for FWS jobs. Once you are hired by an eligible FWS employer, you will receive bi-weekly paychecks for the hours you work. Current work-study job openings are listed on the Federal Work-Study Program website.