Disbursements and Refunds
Financial aid is disbursed at the beginning of each semester in which funds are awarded. For traditional fall/spring terms, one half of the total loan amount minus any loan origination fees will be disbursed directly to your student account each term. If you received a scholarship, moral obligation grant, a Federal Perkins Loan, or a Villanova Law School Loan, a credit will be reflected on your account.
All student loan funds will be disbursed to your account no earlier than 10 days before the first day of class each semester. If the total aid applied to your account creates a credit balance, then you will typically receive a refund within 2-5 business days. The time frame for disbursing loan funds and receiving refunds cannot be changed; therefore, we recommend that you be prepared for any expenses you may incur before your refund becomes available such as: moving expense, rental deposits, etc.
Your money can be refunded to you either by check or by direct deposit into your personal bank account:
Direct Deposit - If you have signed up for direct deposit, any refund you receive will be deposited directly into your personal bank account. You will receive an email from the Bursar’s Office when this is taking place and you can then check with your bank to see if the deposit has been made. You can also go to Novasis and check your student account to see if there is a refund transaction listed there and if so, your deposit should be in your account within 2-3 business days.
- To sign up for direct deposit, please log into your Novasis account and then click on Student and Financial Aid - Student Account Information - E-Refund Signup. Please be aware that the setup and verification process takes approximately two weeks. For more general information on direct deposit, please visit the Bursar’s Office e-Refund page
Check - If you do not sign up for direct deposit, then your refund will be in the form of a check. The Office of Financial Aid will notify you via email when the refund check is ready for you to pick up at the Bursar’s Office in Kennedy Hall. You will have one week to pick up this check or it will be mailed to the permanent address you gave to the Registrar’s Office and is listed on Novasis.
You have the right to cancel your loans at any time by notifying the Office of Financial Aid in writing.
The Bursar’s Office handles all billing and payments. Fall semester bills are typically available for viewing in July and spring semester bills are usually available in November. Paper bills will not be mailed. You can access your bill online using the Bursar’s Office V-bill service. Students who have previously created a V-bill account will receive an email alert each time a new V-bill is available. New students should note that V-bills are available only after the registration and billing process is completed. All tuition and fee charges must be paid no later than the first day of classes or a late fee may be assessed by the Bursar's Office.