Disbursement Schedule
What is Disbursement?
A disbursement is the payment of federal student aid funds to the student’s account by the school. The aid goes to pay your direct costs owed to your school –like tuition and fees. Please note that students enrolled in multiple parts of terms will follow the disbursement schedule of the full-term courses and 2nd term disbursements are reserved for students enrolled in that part of term ONLY. Students can review full-term and part-of-term dates on Colonel’s Compass. Disbursement can be delayed due to several factors.
If there are any excess financial aid funds that exceed your EKU charges, then the remaining amount will be processed as a refund and sent to the student’s selected refund method. Students can get instructions for setting up their preferred refund method below.
Students are highly encouraged to regularly check their EKU email and view their billing account to remain up to date on their current charges, disbursements, as well as refunds if eligible. Students can learn how to get their bill.
What Can Delay Disbursement?
Any environmental event that disrupts University operations will result in a delay in disbursement, and therefore refund processing will be delayed as well.
In terms of federal aid disbursement, there are a variety of reasons disbursement can be delayed.
What You Need to Know About Refunds
Refunds will begin processing on or about the dates listed to the left. Changes in university operations may cause a delay in processing a refund. Moreover, please note that refunds are entirely subject to the date of financial aid disbursement. If a student’s financial aid is not received or fully meets all requirements, the refund date will be delayed accordingly.
By default, a student’s financial aid refund will be issued as a paper check through the US Postal Service and sent to the primary mailing address on file. Students are encouraged to enroll in direct deposit to receive their refunds in a designated bank account more quickly. However, please remember that even electronic fund transfers take time and may vary between financial institutions. It can take 3-5 business days after the processing notice is received by the student’s official EKU email address for the funds to become available.
Note that any changes to a student’s account, including but not limited to: schedules, meal plans, housing, and/or campus residency after a refund is processed could result in debt owed to the University.
Receiving EKU Refunds
EKU refunds are processed electronically through Transact. To receive your refund the quickest way:
For the Summer 2026 term, students can expect refunds to be sent to their electronic refund preference in Transact beginning June 3rd.
You may monitor the progress of your refund by logging into myEKU and checking your account balance. When your balance changes from a negative balance to a $0 balance, your refund has been processed and will be sent on the next refund date. Refunds will be uploaded to Transact every Tuesday and Thursday that the university is open. We reserve the right to send additional files, based on Holidays or other factors. Keep in mind that any schedule changes after a refund is processed could result in debt owed to the university.
If you choose not to receive your refund electronically, a paper check will be mailed. Please ensure your most current address is on file with the university. A paper check can take up to two weeks to reach you. Additionally, EKU does follow Title IV regulations on refunds issued for Title IV payments. If you are issued a check for a Title IV disbursement, you must cash it immediately. We are required to return outstanding refunds to the source of the Title IV payment within 45 days of issuance.
CAP Grant Return Policy
CAP Grant will be tied to billed hours, even after the add/drop period has passed. Students who drop or withdraw to below six credit hours will have their CAP grant returned. Students who drop or withdraw, but maintain at least six billed hours, will have their award prorated to the correct part-time rate.
Other Refunds
Payments are applied to charges based on the type of payment and not in the order it was received. Therefore, if a check payment is received, a refund will not be generated for the amount of the check for at least 14 days. Additionally, if a credit card payment is made on the account for the same term, we reserve the right to credit that card rather than to issue an eRefund or check refund to the student.