2017-2018 Financial Aid Disbursements
Disbursement of financial aid can be affected by a variety of factors and when it happens. It is important to consider your eligibility status during the following times:
Be sure to meet and maintain you eligibility during the entire quarter. If you do not meet all requirements, this may result in some or all of your aid being cancelled. If any of the above sections do not fully explain a particular aspect of our disbursement policy, please visit the Office of Student Financial Aid for more information.
Contact the Office of Student Financial Aid regarding any outstanding requirements posted to your account, if you intend on making any enrollment changes or leaving school, or if you have any questions or concerns.
Before the Disbursement Date
Disbursement of student financial aid is dependent on meeting Satisfactory Academic Progress (SAP), minimum enrollment requirements, and any other eligibility requirements, which may include very specific requirements depending on the type of aid you have been awarded.
Your financial aid will not disburse if you have outstanding requirements. If you have been asked to provide documents or information or have been notified that the Office of Student Financial Aid and Scholarships is reviewing your eligibility, follow up as soon as possible.
Once Disbursement Occurs
Federal and state financial aid and scholarships are disbursed in three equal installments during the fall, winter and spring of the academic year. If disbursement criteria are met, financial aid is disbursed to your student account ten days before the start of each quarter. This assumes that you have been awarded and have accepted your financial aid, have signed all required promissory notes for your loans and were registered for the minimum required credits.
Financial aid disbursed to your student account pays your tuition and other university fees including late charges. If the amount of your aid is greater than the charges on your student account, the difference will be sent to you. The Business Affairs Office is responsible for processing refunds from a student’s account once financial aid has been applied. If you have questions about your bill, or your refund, please contact the Business Affairs Office.
Students who receive money from Federal Work-Study programs are paid wages for the hours worked during the pay period. These funds do not go toward paying student tuition and charges. Federal Work-Study funds are paid out through a regular paycheck which comes from the Payroll Department and are generally available the last working day of the month.
After the Census Date
The Census Date is at the end of the second week of each term. Credit hours are locked and financial aid for the term is adjusted to reflect the student’s official enrolled credits.
For example, if the student received aid at the beginning of the term based on full-time enrollment and then dropped credits, aid is then revised to match their eligibility based on the number of credits enrolled in as of the Census Date and types of aid that were awarded.
A student whose Census Date enrollment is less-than-half-time is not eligible for any federal student loans. In this case, the entire loan amount for the term must be returned to the lender. The return of loan funds may create an outstanding balance on a student’s ABC account, but also reduces the outstanding principal balance of the student loan.
Any credits added to your enrollment after the Census Date must be approved by the Office of Student Financial Aid. Once Registration and Records officially adds the credits, you must submit a Census Appeal Petition to the Office of Student Financial Aid. If your new enrollment is approved, your aid will be adjusted at that time. For the Office of Student Financial Aid’s complete Census Date Policy, click here.
After the Term Ends
A student must have completed a minimum of half-time credits for the previous term to receive loan funds after a term ends. If the loan period included both the prior term and the current term, the student also must be enrolled at least half-time for the current term to be eligible for any loan disbursement.
If the student is receiving a loan for just one term, for example, the fall term only, the financial aid award must have been offered and accepted before the end of the term. Federal regulations mandate that a loan for a term that has already ended can be certified only if the student is currently enrolled at least half-time and there has been no gap in enrollment.
Every student needs to meet specific requirements to maintain financial aid eligibility. We encourage you to review our Satisfactory Academic Progress (SAP) and Census Date policies. Not meeting financial aid eligibility requirements can result in the reversal of financial aid that you have already received, the cancellation of future aid, and create an outstanding student account balance.