Definition of Disbursements and Disbursement Methods
Financial aid funds are generally disbursed using this method
- Office of Financial Aid determines a student's eligibility for funds.
- Office of Financial Aid disbursed the funds to the student's account.
- If the student's account enters credit status, the Office of Accounting will process a residual check for the student within 14 business days.
It is the intention that financial aid will cover the student's balance; however, in certain instances, it may be possible that the aid is applied, a refund issued, and additional charges are later put on the account. This happens most often with book vouchers and students adding additional courses. In these situations, the student will be required to pay their balance with their refund check.
Title IV funds are disbursed to students on a reimbursement method. Students are not penalized if their aid is delayed, but may be required to pay their balance and then receive reimbursement depending on the situation. The Office of Financial Aid cannot guarantee that a student will receive their aid if they do not have a completed FAFSA on file by July 15 for fall or November 15 for spring. Students who do not meet the priority deadline will have to pay their balances for the semester and then be reimbursed once their aid is awarded and disbursed.
Disbursement Dates & Schedules
Disbursement dates can be found in the appropriate semester schedule.