Financial Aid  
LOAN DISBURSEMENTS and REFUNDS OF EXCESS AID

Student Loans are available to assist in funding your costs. They are usually disbursed in two disbursements per loan period, i.e., August - May. APPROXIMATELY the fourth week of class each semester, if your account is paid in full at the Student Accounts Office, you will be refunded any excess personal, state, private or federal financial aid awarded to you. These charges include, but are not limited to: tuition, fees, room & board, and traffic fines. If your aid includes proceeds from Parent PLUS loans, any excess funds MUST be returned to the parent, unless otherwise indicated on the application. Only then can the refund go to you, the student. OCU processes refunds by direct deposit. To ensure your refund is processed by the date below be sure to submit your Direct Deposit Application.

REFUND DATES FOR EXCESS FINANCIAL AID
Undergraduate & Graduate
TERMS Add/Drop Date Refund Date
Maymester 5/13/2015 5/15/2015
Summer I
May – June 2015
5/21/2015 5/29/2015
Summer II
June – July 2015
7/01/2015 7/03/2015
Summer 11-week 5/28/2015 6/05/2015
Summer 9-week 6/4/2015 6/12/2015
Summer 8-week 6/11/2015 6/19/2015
Fall
August – December 2015
9/4/2015 9/11/2015
Spring
January – May 2015
1/22/2016 1/29/2016

 

Law School
TERMS Add/Drop Date Refund Date
Summer
May – July 2015
6/1/2015 5/22/2015
Fall
August – December 2015
8/28/2015 8/14/2015
Spring
January – April 2016
1/22/2016 1/08/2016

 

MBA Accelerated Terms
TERMS

*NOTE* Students enrolled in accelerated terms during a traditional fall or spring semester will not receive any funds until they are attending a minimum of 6 hours (half-time status). If a student takes 3 hours in the first cycle and 3 hours in the second cycle, no funds will be received until the start of the second cycle.

Add/Drop Date Refund Date
May – July 2015 6/5/2015 6/12/2015
August – October 2015 8/14/2015 8/21/2015
October – December 2015 10/23/2015 10/30/2015
January – March 2016 1/15/2016 1/22/2016
March – May 2016 3/25/2016 4/01/2016

 

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