Overview

Financial aid funds are disbursed to eligible students in accordance with federal, state, and institutional regulations. Disbursement refers to the process by which financial aid funds are applied to a student's account to pay institutional charges such as tuition, fees, housing, and other authorized expenses.

Students must meet all eligibility requirements and complete all necessary documentation before financial aid funds can be disbursed.

Eligibility for Disbursement

Financial aid will only be disbursed when all of the following conditions are met:

  • The student has completed the Free Application for Federal Student Aid (FAFSA) and all required documentation.
  • The student has been officially awarded financial aid.
  • The student is enrolled in eligible coursework required for their academic program.
  • The student meets Satisfactory Academic Progress (SAP) requirements.
  • All verification requirements, if selected, have been completed.
  • The student has accepted applicable financial aid awards.
  • Required entrance counseling and Master Promissory Note (MPN) have been completed for federal student loans.
  • The student has no unresolved holds that prevent disbursement.

Failure to complete required steps may delay or prevent disbursement of funds.

Disbursement Timing

Financial aid is typically disbursed after the add/drop period each academic term to ensure enrollment eligibility.

General disbursement timing includes:

  • Federal Pell Grants – Disbursed each term based on enrollment status.
  • Federal Direct Loans – Typically disbursed in multiple installments during the academic year.
  • State Grants – Disbursed according to state program guidelines.
  • Institutional Scholarships – Disbursed according to institutional policy and enrollment requirements.

Actual disbursement dates may vary depending on program structure, enrollment changes, or completion of outstanding requirements.

Application of Funds to Student Accounts

Once disbursed, financial aid funds are applied directly to the student’s account to pay:

  • Tuition
  • Mandatory fees
  • Institutional housing and meal plans (if applicable)
  • Other authorized institutional charges

Students must authorize the institution if they wish financial aid funds to be used to cover non-institutional or miscellaneous charges.

Credit Balances and Refunds

If financial aid funds exceed institutional charges, the student will receive a credit balance refund.

Federal regulations require institutions to issue credit balance refunds within 14 days of the disbursement date.

Refunds may be issued via:

  • Direct deposit
  • Paper check

Students are encouraged to enroll in direct deposit for faster delivery of refunds.

Enrollment Changes and Adjustments

Financial aid eligibility is based on enrollment status.

If a student:

  • Drops or withdraws from courses
  • Changes enrollment status
  • Stops attending classes

their financial aid may be adjusted or reduced.

Students who withdraw from all courses may be subject to the federal Return of Title IV Funds (R2T4) calculation, which determines how much financial aid must be returned to federal programs.

Students may become responsible for repaying funds to the institution or the U.S. Department of Education.

Verification and Documentation Delays

If a student is selected for verification or additional documentation is required, financial aid will not disburse until the process is complete.

Students should regularly review their financial aid portal and institutional email for outstanding requirements.

Authorizations

Students may be asked to provide authorization for:

  • Use of federal funds to pay non-institutional charges
  • Holding federal credit balances for future terms
  • Electronic delivery of refund payments

Students may revoke authorization at any time by contacting the Financial Aid Office.

Monitoring Your Aid

Students can monitor the status of their financial aid through the institution’s student portal.

Information available typically includes:

  • Award amounts
  • Disbursement dates
  • Outstanding requirements
  • Account balance and refunds