Receiving Your Money: How Financial Aid Is Disbursed

Disbursement Dates

Financial aid is disbursed once all holds and To-Do list items are complete and you are enrolled in enough units to receive aid. The first possible disbursement of federal and state aid and scholarships each semester is the Thursday prior to the start of classes. Financial aid is generally disbursed as one lump sum.

• Fall 2026: First possible financial aid refund date is August 20
• Spring 2027: First possible financial aid refund date is January 21

Your aid may disburse later due to availability of funds or processing delays. If your aid is delayed, please reach out to our office for assistance.

See Disbursement FAQs.

Alternative/Private Educational Loans: The first possible disbursement of an alternative loan will be the Thursday of the second week of classes each semester.

• Fall 2026: First possible refund date for a private education loan is September 3
• Spring 2027: First possible refund date for a private education loan is February 4

Before Your Aid Can Be Disbursed

Your financial aid can be disbursed when:

• You have completed all required financial aid To-Do list items and resolved any holds. 
• Your financial aid file has been reviewed and finalized.
• You are enrolled in enough financial aid-eligible units to receive your aid.
• If you are borrowing a Federal Direct Loan, you have completed your Master Promissory Note (MPN)(opens in new window) and Loan Entrance Counseling(opens in new window). For California Dream Loans, use the links in your Student Center To-Do list. 
• If you are borrowing a private education loan, your loan has been certified by Chico State.

If your file is not complete in time for the first possible disbursement date, we will disburse your financial aid after a minimum of one week once all of your financial aid To-Do list items and holds are completed, we have completed the review of your file, and you have registered for courses.

Enrollment and Your Financial Aid

Your initial financial aid offer is based on full-time enrollment. Beginning with the 2026–27 school year, some financial aid amounts, including Federal Direct Loan limits, are reduced for students enrolled less than full-time. Other aid, such as the Federal Pell Grant, is calculated based on your enrollment. Your financial aid may change based on the number of financial aid-eligible units you are enrolled in and the requirements of each aid program. If you add financial aid-eligible units after your initial disbursement, you may receive additional aid. Awards are finalized for enrollment after University Census. Review your financial aid in your Student Center.

Cal Grant B Access award recipients may submit a request to us to receive this award instead of having it pay for current outstanding Chico State fees. This request must be completed no later than a week prior to the disbursement of this award. In order to be eligible for this request, Cal Grant B Access award recipients must have no outstanding university holds or financial aid To-Do list items, be enrolled in at least half-time status (6 units), and meet with a Financial Advisor prior to the disbursement of the award. 

Receiving Your Money

The quickest and safest way to receive your financial aid refund is through e-Refund (direct deposit). You can enroll in e-Refund in your Student Center by selecting Enroll in e-Refund under the Financials section.

Tuition and fees, housing charges (if living on campus), and other university charges are paid first from your financial aid. If money remains after those charges are paid, the remaining amount is refunded to you. If you are enrolled in e-Refund, your refund will be deposited directly into your bank account.

If you have not signed up for e-Refund, a check will be mailed to the mailing/local address listed in your Student Center. Keep your address up to date to avoid delays.