A disbursement is the lender’s payment of loan funds to the University. Payment is generally made by bank transfer (electronic funds transfer).

You’ll find your loan disbursement dates in your financial aid offer. These dates are usually set for the Monday of the third week of each teaching period (e.g. semester or term) or research quarter in which you're enrolled.

Closer to each disbursement date, we’ll let you know by email about the disbursement amount and your rights regarding the loan. You must confirm by reply email that you wish to proceed with or cancel the disbursement. If you choose to proceed, we’ll release your disbursement as scheduled.

Monash will first allocate your loan disbursement to your tuition. If the amount exceeds your tuition, we’ll request your bank information by email so that you can receive the balance for your living expenses. If the amount doesn’t fully cover your tuition, you'll need to pay the outstanding amount by the due date.

Post-withdrawal (post-discontinuation) disbursements

If you discontinue your course and haven’t received all the Direct Loan funds that you’ve earned, you may receive a post-withdrawal disbursement (PWD) of the remaining earned funds. (We determine your withdrawal (discontinuation) date in a few different ways.) The financial aid administrator will notify you (and any parent borrower) if you’re eligible for a PWD. You may decline the PWD. If you owe outstanding tuition fees or debts at the time of a PWD, we’ll deduct these amounts from any disbursement.

If you had a credit balance on your account before discontinuing your course, or have one as a consequence of discontinuation, any refund will be placed on hold until a Return of Title IV (R2T4) calculation has been finalised. Any credit balance owed to you will be processed within 14 days.