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Once you have registered for classes and completed your financial aid file, your accepted financial aid (excluding Federal Work-Study and some alternative loans, Federal PLUS loans, and outside resources) will be applied against assessed university charges on your student account.
Refunds of excess federal aid and scholarships can only be released to you if you have a confirmed record of attendance at UCM for a given semester. If you have changed your plans and are not able to attend UCM, please be sure to cancel your federal aid and scholarships as well as your courses prior to the first day of the semester.
You must validate enrollment in each class in one of the following two ways:
If your credited financial aid is in excess of your university charges, a financial aid refund will be generated for the difference. We will begin processing fall and spring refunds after the close of the 100% refund period. If you have set up your direct deposit account, you should expect to receive the deposit from the Federal Reserve to your bank account within two business days after the file is delivered to the Federal Reserve. Check with your bank to ensure that your refund has been credited before drawing on these funds. Direct deposit is the most efficient method of receiving your refund. If you have not set up a direct deposit account, your refund check will be mailed on the fifth (5th) business day of the semester. Please keep in mind that once the check is deposited in the U.S. Mail, there may be a few days mailing time before you receive the check. Checks are mailed to your on campus address or local address. Make sure to update your local address. In the absence of a local or on campus address, your permanent address will be used.
If financial aid is cancelled or does not pay all tuition and fees, you will be responsible for these charges. Enrolling in classes completes the registration process. You may want to consider other options such as a Parent PLUS loan (if eligible) or an Alternative Educational Loan. Click here for a video presentation about the PLUS loan.