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Financial Aid

Financial Aid Disbursement Process

Pell Grants

  • Must be enrolled in at least three credit hours
  • Awarded only up to twelve credit hours each semester
  • Awarded to undergraduate students only
  • Pro-rated disbursements based on sub-term enrollment (see example below)
  • Disburses 21 days after the student becomes eligible
  • Pays towards outstanding balance first
  • Must meet all federal eligibility requirements
  • Additional information for grants, click here.

Federal Loans

  • Must be enrolled at least half-time; six hours for undergraduate and masters, and three hours for doctoral studies
  • Disbursements based on sub-term enrollment (see example below)
  • Disburses 21 days after the student becomes eligible (actively attending at least half-time)
  • Pays towards outstanding balance first
  • Must meet all federal eligibility requirements
  • Additional information for loans, click here.

Example 1:

An undergraduate student eligible for Pell is attending 3 hours in B and 3 hours in D. She can expect half of her Pell Grant 21 days after her first class in B begins and the remaining half 21 days after the beginning of D.

If she were taking a class in B and another in C, she could expect half of her Pell in B and the remainder in C.

If she were taking 2 classes in D only, she could expect her full disbursement of Pell in D.

**Enrollment and pro-ration of Pell applies to all combinations of enrollment.

Example 2:

An undergraduate/masters student is planning to borrow federal loans is attending 3 hours in B and 3 hours in D. He meets all eligibility requirements and can expect the full loan to release to his student account 21 days after his D term class begins. His refund will be processed within 4 days after the funds are showing paid to his student account on ASIST on the 25th day of enrollment. The refund will then be transferred to Higher One for processing.

If he were taking a class in B, C, and D, his loan would disburse 21 days after C began.

If he were taking 2 classes in B only, his loan would disburse 21 days after B began.

If he were taking all residential courses, his loan would disburse 21 days after the start of those courses. 

**The half-time enrollment and 21 day criteria apply to all combinations of enrollment for all students and levels.

Refunds

For information and timeframes for processing refunds, visit this link. The Financial Aid Office does not process refunds.