Disbursement of Funds

Be aware that you must fulfill certain criteria of enrollment status and eligibility to receive your financial aid funds. Your eligibility is initially checked when aid is posted to your account for the semester and is monitored on an ongoing basis. Aid which was initially credited to your account for which you cease to be eligible will be withdrawn. Eligibility checks include incomplete verification, SAP status, and being in default or owing a refund to a financial aid program.

If you are ineligible for any of the aid originally credited to your account, you will be responsible to pay, by the deadline date, those charges which were covered by that aid on your original account.

If your financial aid award appears on your account as a memo and all else remains the same, it will be applied toward your charges and any overage, a credit balance, will be directed to you for other educational expenses including off-campus housing. Credit balances (the credits exceed the charges on your account) can be made available to you.

Reductions in Disbursed Aid
If the Office of Financial Aid determines that you are no longer eligible to receive aid that has already been disbursed to you, you may be asked to repay it. The Office of Financial Aid performs continuous, ongoing eligibility and reconciliation checks for all aid programs to ensure that funds are going only to students eligible to receive them. If necessary, a recovery of disbursed funds from you will take one of the following forms:

1️⃣The Office of Financial Aid may reduce your aid for the current term to make your award consistent with your eligibility status. This reduction would take the form of a reduced financial aid credit placed on your account that may increase your personal financial obligation for university charges. (In rare circumstances, a recovery of prior semester aid is necessary. In this case the reduction would take the form of a charge placed on your current semester account that may increase your personal financial obligation for university charges.)

2️⃣The Office of Financial Aid may reduce future disbursements of aid to make your award consistent with your eligibility status. This reduction might result in an increase of your personal financial obligation for university charges for those semesters.

3️⃣The Office of Financial Aid may initiate a charge to be applied to your account. An increase in your personal financial obligation will increase the amount you owe for university charges (or reduce your credit balance). If you have insufficient credits to cover your charges, you will receive a bill from for the balance due.

Questions?
If you have questions about your financial aid disbursement to your student account, please contact the Office of Financial Aid. If you have questions about our refund process, please contact the Bursar’s Office.