If you have completed the required steps, your accepted financial aid will appear as "pending" on your Statement of Account about 4 to 6 weeks prior to the beginning of the term, or 2 to 4 days after you have registered for classes.
To view pending aid
Log in to your My Buckeye Link.
Click on Statement of Account in the Finances section. Make sure the correct term is selected.
Financial aid will appear as "pending" on your account until it is released or disbursed approximately 7 to 10 days prior to the start of the term, as long as you remain eligible. Once aid is disbursed, it will be displayed as a payment on your Statement of Account and the "pending" status will disappear.
Direct deposit and refunds
Once your financial aid has posted to your account and all charges have been paid, there may be money left over. You will receive this overage in the form of a "refund," which is to be used for college expenses.
Note: Federal regulations state that Title IV federal financial aid funds cannot be disbursed to you until ten days prior to the start of classes each term, but must be disbursed by the seventh day of the term to allow time for students to obtain their books and supplies. Ohio State's policy is to disburse financial aid approximately 7-10 days prior to the start of the term.
Once a refund transaction has posted to your account and if you are enrolled in direct deposit you can expect your refund within 2-5 business days. Those not enrolled in direct deposit will receive a paper check. The university will begin mailing refund checks 2 days after the start of the semester and will be mailed to the current address listed in the Contact Information of My Buckeye Link. Paper refund checks may take up to 15 business days to receive.
Note: PLUS loan refunds to the parent borrower are issued via paper check.
To sign up for direct deposit, click on the "Account Refund" link in the Finances section of My Buckeye Link and follow the instructions.
Loss of aid eligibility
If Ohio State determines that you are no longer eligible to receive aid that has already been disbursed, you may be asked to repay it. This is a result of ongoing checks that the university performs for all aid programs to ensure that funds are going only to students eligible to receive them. If necessary, a recovery of disbursed funds from you will take one of the following forms:
Ohio State may reduce future payment of aid to make your award consistent with your eligibility status. This reduction could result in an increase of your personal financial obligation for university charges for those terms.
Ohio State may reduce your aid for the current term to make your award consistent with your eligibility status. This reduction could increase your personal financial obligation for university charges.
Ohio State may reduce prior term aid that would result in an additional charge on your account. This will increase the amount you owe for university charges (or reduce your credit balance) and could result in a balance due.