-Fequently Asked Disbursement Questions
FINANCIAL AID DISBURSEMENT SCHEDULE
Additional disbursements are continually being posted
The current schedule is available here.
What must be completed before I am able to charge books to my financial aid account? In order for your financial aid account to be “book-charge ready” you must have returned a signed award letter and completed any fund-required tasks such as Entrance Counseling or your Master Promissory Note.
How long are charges accepted at the Bookstore? You are able to make eligible financial aid charges to your account at the Bookstore beginning one week prior to the term beginning and through the Wednesday of the second week into the term.
When do financial aid disbursements start each term? The first disbursement for each term (beginning Winter Term 2014) will be the third Tuesday at 1:30pm in the Building 4 Commons. Subsequent disbursements will be held every Tuesday at 1:30pm in Building 3 as needed.
What does being a “first-time borrower” mean? A first-time loan borrower is any student who has never received student loan funds through the Direct Loan program. Per federal regulation, first-time loan borrowers are subject to a 30-day hold on any loan funds being disbursed in order to prove academic success.
As a “first-time borrower,” how does this change in disbursement dates affect my aid being disbursed? As a first-time borrower, the change in disbursement dates will not affect your aid in way except that your direct loan disbursement will be held for 30 days into the term and then disbursed on the next Tuesday at 1:30pm in Building 3.
If I stop attending classes, can I still receive my financial aid check? Your financial aid eligiblity is determined by your attendance in class. If you cease attending, the financial aid office will re-calculate your eligiblity and you may become ineligible for some or all federal financial aid. If your financial aid eligiblity has to be re-calculated, your financial aid check will be held and voided and a new check will be issued, if you are eligible for any funds.