Financial Aid

Disbursement of Financial Aid

Financial aid funds will be released to student accounts in two equal disbursements and will first be applied to outstanding charges for tuition, fees, room, board, and other eligible University expenses. Remaining funds will be issued to the student. By Federal regulation, excess funds MUST be used for educational expenses.

For students graduating in December, please be aware that student loans must be issued in two disbursements – the first during the third week of class and the second at the midpoint of the semester.

NOTE: If a student’s aid package includes PLUS loan funds, credit balance checks will be made payable to the student or parent and will be mailed to the parent’s home address.

The Financial Aid Office will disburse funds each Friday beginning the 2nd Friday of each semester*.

  • Eligible students who elect to receive credit balance refunds by direct deposit, should allow five (5) additional business days for the transfer of funds to a personal bank account.
  • Students who do not elect direct deposit, should allow ten (10) additional business days for the check to be mailed to the student’s permanent address of record.

*Federal regulations prohibit the disbursement of Federal Stafford Loan proceeds to first-time, freshman borrowers until 30 days after classes begin. Students should be prepared to cover expenses, such as books, until loan funds are released to the school.

2015-16 Financial Aid Disbursement Dates

Financial Aid Disbursement Business Office Disbursement (Refund Check)
Fall 2015
1st Disbursement 09-11-2015 09-18-2015
2nd Disbursement 10-30-2015 11-06-2015
1st Time Freshman Borrower 30 Day Delay 10-02-2015 10-09-2015
Federal Work-Study (FWS Employed Students Only) Monthly on the 20th NA
 
Spring 2016
1st Disbursement 1-29-2016 2-05-2016
2nd Disbursement 3-25-2016 4-1-2016
1st Time Freshman Borrower 30 Day Delay 2-19-2016 2-26-2016
Federal Work-Study (FWS Employed Students Only) Monthly on the 20th NA