How Online Undergraduate Financial Aid Disburses
How Financial Aid Disburses
Financial aid is generally credited to individual student accounts in equal disbursements by term. The specific amount to be disbursed each term is indicated on the student’s Financial Aid Offer. Most often, an award is divided into three equal payments, disbursing at the beginning of each term (Fall, Spring and Summer).
Undergraduate Online Programs
In general, financial aid begins disbursing approximately ten days after the first day of classes for the term and continues twice weekly thereafter. To have aid disbursed, the student must have completed the financial aid process and meet all disbursement eligibility requirements.
Provision for books: Students who are otherwise eligible for disbursement 10 days prior to the start of the term, and are expected to have a credit balance after financial aid has been applied toward their owing balance, will be advanced the lesser of their presumed credit balance or $300 to ensure that the student has funds to obtain books by the seventh day of the term. Enrollment or aid changes may result in a student needing to repay the book money if the student becomes ineligible for the fund.
Common reasons that may prevent or delay a disbursement from occurring:
- Student has not received a Financial Aid Offer.
- Student has not signed the annual Financial Aid Terms and Conditions.
- Missing, or late submission of, required documentation needed to confirm aid eligibility.
- If borrowing loans, missing the required Entrance Counseling and/or Master Promissory Note (MPN).
- Not registered for the appropriate number of credits for the term (as indicated in the Financial Aid Offer)
- Not meeting satisfactory academic progress requirements.
- Student’s first class of the term starts at a later date.