Requirements for Disbursement of Financial Aid
If you are meeting the three requirements (correct enrollment, complete financial aid file and making Satisfactory Academic Progress) your aid will begin to disburse to your student account on the first day of classes. If you have more Financial Aid funds than you owe to UNM, you will receive a refund of the excess financial aid funds. Funds remaining after paying debts owed to the University are paid directly to you by either direct deposit to your bank account or by mailing a check to your address on file with UNM. UNM strongly encourages you to establish direct deposit.
- Submit my Authorization to Pay form
- Inform Financial Aid if you will be less than full-time. All loans are initially awarded based on an assumption of full time enrollment (12 credit hours (undergraduate) or 9 credit hours (graduate) during fall and spring semesters; 6 credit hours for summer). If you are planning on taking less hours (but at least half time enrollment) please submit the Loan Enrollment Verification Form so we may recalculate your loan eligibility. Failure to inform our office will result in a delay in your loan disbursement.
- Check that my Financial Aid file is complete
- Satisfactory Academic Progress answers
- Complete your Loan Documents
- Federal Direct Loan Master Promissory Notes (MPN) are completed on the Federal Direct Loan web site. They need only be signed once if you accept a loan once every 12 months while you are a student.
- Direct Loan Entrance Counseling teaches you how to borrow wisely and monitor your loan debt, it can be completed on the Federal Direct Loan web site.
