Orange barFinancial aid awards are based on the total cost of attendance, including items that do not appear on the bill (such as, books and supplies, and miscellaneous expenses).

Sometimes, the total amount of financial aid accepted may be greater than the amount billed, resulting in a refund.

Refunds are typically available once classes begin. To receive a refund, all financial aid requirements must be complete and your actual enrollment must match the expected enrollment on which your financial aid award is based.

Students need to set up direct deposit to receive their refund.

Student Refunds

Refunds will be made payable to the student if the credit balance was a result of financial aid from the student's name (Federal Direct Subsidized/Unsubsidised loans, private education loans, scholarships and/or grants).

Parent Refunds

Refunds will be made payable to the parent if a parent PLUS loan has been borrowed (up to the amount of the PLUS loan), unless the parent authorized the refund to be issued to the student. This authorization is provided when the parent applies for a PLUS loan, or provided in writing/email to SFS.

Direct Deposit

Direct deposit sign up is required for students to receive their financial aid refund. (Parent refunds are not issued through direct deposit).

To set up direct deposit, students should have their bank account information handy (account and routing numbers), and set it up through their myUVM portal. Once logged in, students should select 'Set Up Direct Deposit' under the Student Account banner on the Student Financial Services page. View our video tutorial on direct deposit sign up for additional help.

Note: Direct deposit for payroll (positions held at UVM) are separate from direct deposits for refunds and Human Resources should be contacted with any questions at 802-656-3150.

Refunds for Monthly Payment Plans

If you have a monthly payment plan in place, you will not receive a refund until the payment plan is paid in full for the semester based on your enrollment. If the payment plan, in combination with other resources, is creating an overpayment on your account, you may contact Nelnet Campus Commerce to reduce the payment plan so that your monthly payments will be smaller. Otherwise, Student Financial Services will contact Nelnet Campus Commerce to reduce your plan.

Additional Refund Information for Larner College of Medicine Students

Regardless of your level in the Vermont Integrated Curriculum, billing and financial aid is administered by semester (there is no summer session). Your fall semester is based on coursework from July 1 through December 31, while spring is based on coursework from January 1 through June 30.

For students eligible to receive a refund, due to an overpayment of financial aid over what is owed for tuition and fees, our office will begin to disburse refunds based on this schedule (provided all requested information has been submitted and reviewed):

Larner College of Medicine Refund Schedule:


Applying a credit balance toward a future semester

If you have a credit balance that you would like held on your account for future semesters, please send an email from your UVM email account to request. You will receive an email response once your account has been updated to reflect your request.