Disbursements

Each semester via email you will receive a bill from the Bursar's Office at University Park (August and November) that will include tuition and other unpaid charges. Please follow the instructions on the email.
Federal Direct Stafford Loans and Federal Direct Grad PLUS Loan funds are sent to the institution by the lender by an electronic process. Loans are credited to the student’s account. To receive your Federal Perkins, Primary Care Loan (PCL), or University Loans you must execute a promissory note before these funds are credited to your account. 

 
If your financial aid exceeds the amount due to the University, the excess amount will be issued to the student's checking or savings account to use for other educational expenses. Students must provide bank information on elion so refunds are automatically sent to a designated bank account. You can initiate this process using e-lion as soon as your Penn State access account is activated during first year student orientation.
 
Refunds from student loan disbursements for living expenses are deposited into your checking account at the end of August for the fall semester.  Students must be prepared to fund their expenses from their own resources until refunds are available.