The
financial aid office oversees and administers financial aid,
they do not disburse any checks. The school’s Bursar’s
Office (Business Office) is responsible for processing and
disbursing all financial aid. Financial aid is awarded for
an academic year (unless otherwise specified), one-half of
the award being available each term (i.e. semester, quarter,
trimester). Financial aid awards are used first to pay tuition
and fees, and secondly to pay on-campus room and board, insurance
(if applicable), and then other educational expenses/fees.
Before your financial aid can be disbursed, you must fulfill
certain criteria of enrollment status and eligibility to
receive your awards. Your eligibility is initially checked
when financial aid is posted to your Student Account and
is monitored on an ongoing basis. If you have met all the
criteria, financial aid disbursement usually begins one
week prior to the start of classes and is scheduled regularly
thereafter according to the school’s disbursement
schedule.
Verification
The financial aid office is required by the federal government
to verify a percentage of all financial aid applicants.
The information to be verified may include, but is not limited
to, federal taxes paid; other untaxed income; household
size; and number of family members who are attending college.
If you are selected for verification, the financial aid
office will issue a letter to you requesting that additional
information be submitted. You must return the requested
documentation to the financial aid office by a certain date
of receiving the request. Failure to provide the request
documentation will prevent disbursement of your financial
aid.
Causes of Delays
in Disbursement
There are several issues that may delay or prevent disbursement
of your financial aid, including, but not limited to: |
• Satisfactory
Academic Progress
• Academic Suspension
• Financial Aid Hold
• Enrollment Hold
• Residency Status Change
|
• Scholarship and waiver requirements
not met
• Resources not yet available
• Perkins Loan Promissory Note not signed (if
applicable)
• Master Promissory Note not signed
• Loan Entrance Counseling not complete |
General Disbursement Methods
The method in which your financial aid is disbursed is dependent
upon the source. For detailed information about the disbursement
of your financial aid, read your school’s Financial
Aid Guide. You have any additional questions or comments,
contact your school’s financial aid office.
| There are different procedures
and actions for disbursement of financial aid such as: |
| • |
When the Bursar’s
Office receives a financial aid check made payable to
you (such as some Private Scholarships, Departmental
Aid, Private Loan, and some Federal Family Educational
Loan Program, you will be contacted by email or mail
informing you to visit the Bursar's Office to endorse
the check. The funds are applied directly to your Student
Account to pay for tuition, fees, and other educational
expenses. |
| • |
When the Bursar’s Office receives
a financial aid check made payable to the school (such
as State Aid, Campus Based and Institutional Aid: Pell
Grant, Perkins Loan, Federal Supplemental Educational
Opportunity Grant (FSEOG), Departmental Aid, some Private
Scholarships*, and some Private and FFELP loans), the
funds are applied directly to your Student Account to
pay for tuition, fees, and other education expenses. |
| • |
If you have a work-study job, the check
is made payable directly to you. You may use the funds
to pay for educational and personal expenses. Your employer
must pay you at least once a month. Students are typically
paid every bi-weekly or bi-monthly. Your employer must
pay you directly by check, unless you request the employer
to make a direct deposit to your personal bank account,
or apply the money to your Student Account. |
After all charges (tuition, fees, and deductions) have
been paid on your Student Account, or the amount of financial
aid is greater than the amount of charges, any remaining
balance will be refunded to you or your parent. Your refund
check may be mailed to your local or home address, directly
deposited into your personal bank account, or you may be
able to pick up your check at the Bursar’s Office
when the funds become available. Unless your parents indicate
otherwise, PLUS Loan funds are refunded directly to them
in the form of a check. It is important that you understand
your school’s refund policy.
It is very important that you read and understand your
school’s financial aid policies regarding finanical
aid disbursement, disbursement schedule, reduction in classes/aid,
withdrawal from school, refund and repayment policy, etc.
Any student who receives financial aid and subsequently
withdraws from school may be required to repay that financial
aid. In any event, this may affect future financial aid
eligibility. If you have any questions, you should contact
your school’s financial aid office and read your school’s
current Financial Aid Guide.
Private Scholarship Disbursement
The organization awarding your scholarship should provide
you with information as to how the scholarship check will
be distributed (to you or directly to your school). Some
sponsoring organizations often require verification of enrollment
or a billing statement from your school before disbursing
the scholarship check. If this is the case, you must contact
the Registrar's or Bursar’s Office to request that
the appropriate documentation be mailed to the sponsoring
organization.
If you really need to know when you or the school will
receive the check to prevent any enrollment problems such
as class cancellations, contact the scholarship provider
and ask when they mailed or intend to mail the scholarship
check to avoid any problems. Once you receive this information,
inform the Bursar’s Office of your school and they
may grant you an extension on your payment deadline. There
are different procedures and responses for disbursement
of private scholarship checks.
