Refunds/Disbursements

Main-campus and Kendall College of Art and Design Student Refunds

Students who have completed all requirements and have excess financial aid will receive direct-deposit refunds on the following dates:

spring 2024

• Direct Deposit - January 24, 2024
• Checks mailed - February 2, 2024

Students eligible for financial aid refunds will have until  January 22, 2024 at noon to set up direct deposit, to prevent refund delays.

Please note that if a parent indicated on a Parent PLUS Loan application that any excess aid was to be refunded directly to the parent, a refund check will be mailed to the parent on the check release date - February 2, 2024.

summer 2024

• Direct Deposit - May 24, 2024
• Checks mailed - May 31, 2024

Students eligible for financial aid refunds will have until  May 22, 2024 at noon to set up direct deposit, to prevent refund delays.

Please note that if a parent indicated on a Parent PLUS Loan application that any excess aid was to be refunded directly to the parent, a refund check will be mailed to the parent on the check release date - June 2, 2024.

FALL 2024

• Direct Deposit - September 12, 2024
• Checks mailed -  September 21, 2024

Students eligible for financial aid refunds will have until  September 10, 2024 at noon to set up direct deposit, to prevent refund delays.

Please note that if a parent indicated on a Parent PLUS Loan application that any excess aid was to be refunded directly to the parent, a refund check will be mailed to the parent on the check release date - September 21, 2024.

Consortium Student Refunds

If you have community college classes that have a late starting date, some or all of your financial aid may not disburse to your account until after the late session class has started and verification of enrollment has been completed.

Consortium students who have completed all requirements and have excess aid will receive refunds on the following dates

• SPRING 2024 February 16, 2024 for all siteS
• SUMMER 2024 JUNE 14, 2024 FOR ALL SITES
• FALL 2024 SEPTEMBER 28, 2024 FOR ALL SITEs

How Financial Aid Is Disbursed

Student Financial Services at Ferris State University sets up a billing account for each enrolled student. Your billing account will include any charges that are payable to FSU, such as tuition, room and board charges if you live on campus, parking permits, etc.

Financial aid disburses,or pays, directly to your student billing account. Because FSU bills one semester at a time, your financial aid is generally divided evenly between the fall and spring semesters - half for fall and half for spring.

If your financial aid is not enough to cover all of your charges, you will be billed for the difference.

If you have excess financial aid, then you will receive a refund of the excess. Excess financial aid is to be used for the educational purposes intended, which include the following categories: tuition, room and board, books and supplies, personal expenses and transportation costs.

For students who did not have all of their financial aid requirements completed by the first disbursement date of each semester, aid will be disbursed on the next scheduled weekly disbursement date after all of the requirements have been met.

Instructions For Setting Up A Direct Deposit Account

1. Log into Ferris360
2. Select All Tools in your side menu
3. Search for Direct Deposit or find it under the Paying Your Bill category.
4. Select the Direct Deposit tool
5. Enter the 9 digit "Bank Routing Number" for your bank account
6. Enter your bank account number
7. Click on SUBMIT
8. Click on "I AGREE"
9. Your screen should read: "Your Direct Deposit Information has been changed"

*Note: You are responsible for any overdraft fees that may be charged to your bank account. It is your responsibility to confirm that funds have credited your bank account before you access those funds.