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Disbursement of Aid

 

How Financial Aid Awards are Disbursed

All financial aid funds can be used for your educational expenses, including living expenses, while you are in school. Now that we have explained how your financial aid is awarded, you may be wondering how you receive the funds.

It is our intent to have your financial aid credited to your student account as early as 10 business days before the first day of class for each term. In accordance with federal regulation, this is the earliest date that aid can be disbursed. You must, however, have a complete application on file in our office to have your aid disbursed. If you apply late or do not complete your file promptly, your financial aid funds may be delayed. Almost all financial aid awards (with the exception of out-of-state loan checks, alternative loan checks, consortium checks, and some scholarship funds) are disbursed into your student account by the Office of Financial Aid. Contact our office for more information regarding the schedule of disbursements.

Things You Should Know about Disbursement

  • In order for a disbursement to occur, you must have a complete file; you must be registered for the minimum credits required for your awards; you must not be on financial aid suspension; and you must have no holds on your financial aid file.
  • Aid may be canceled if not disbursed by census date each semester.
  • If you must buy books or if you need other financial assistance before your financial aid funds are available, you may be able to obtain a short-term loan against your pending financial aid award. Please visit the Short Term Loan Program page for more information.
  • Disbursements for the current semester occur more frequently than disbursements to reimburse students for prior term awards. For example, during the spring semester, we disburse spring financial aid awards more frequently than we disburse the prior fall semester’s awards.

Proration of Financial Aid Awards

All students will initially receive an aid package quote that is based on full-time enrollment status (9 or more credit hours each semester) even if you indicated half-time (5 credit hours) anticipated enrollment on your FAFSA. However, if you make any changes to your enrollment status prior to the census date (which is the last day of each semester that you can drop a full-semester course and have it deleted from your academic record), your entire aid package will be prorated if your enrollment status drops to less than full time. Likewise, if you increase your enrollment status upward from half-time enrollment prior to the census date, your award package will be prorated to the appropriate enrollment level. Please note that each time you adjust your enrollment status before census date, your aid award will be prorated and your student account will be adjusted for necessary increases or decreases in tuition charges and financial aid prorations. The example below illustrates the proration of a full-time award package. Note that the amount of your actual financial aid award package depends upon your calculated need.

The following is only an example.

Types of Aid 9 HRS 
(Full-time)		 6-8 HRS
(3/4 time)		 5 HRS 
(half-time)
Perkins Loan $1,500 $1125 $750
Stafford Loans $2,000 $2,000 $2,000
Federal Work Study $2,500 $2,500 $2,500

*Generally, the amount of your Federal Stafford Loan will not be changed or prorated. If you are enrolled for less than 9 credit hours, you may only be able to receive a portion of your Federal Perkins, depending on your eligibility.

*Students maintain their full eligibility in Federal Stafford Loans as long as they establish enrollment in 5 credit hours or more for the term.

Enrollment Status and Aid Proration Freeze Date

Proration of aid ceases after each semester’s census date. At that time, your aid package and the amount of aid credited to your student account will be held at the appropriate amounts based on your recorded enrollment status on census date. No increases or decreases to your aid award will be made after the census date based on changes to your enrollment status. However, if you reduce your enrollment hours after the census date, you will be subject to the Satisfactory Academic Progress (SAP) regulations governing the completion rate for that term. All aid proration activities will be reflected on your student account billing statements. Therefore, we encourage you to change your enrollment status as little as possible.

Please note: If our office receives your FAFSA after the census date of the semester, aid will be disbursed according to your current enrollment rather than frozen hours. Federal Stafford Loans are ALWAYS disbursed according to current enrollment.

Accepting and Rejecting Financial Aid Awards

Federal Stafford Loans and the Graduate PLUS can be accepted through your ConnectU account. For a list of instructions click here.

Work-Study is offered to students. To accept this award, you will need to turn in your WK10 Form after it is filled out by you and your supervisor.

Satisfactory Academic Progress 

Please visit the Graduate Satisfactory Academic Progress Section of our Website.