Disbursement of Federal/State Funds

Disbursement of Federal/State Funds

If Federal Pell Grant, Federal ACG, Federal SEOG, TSAA, and scholarship awards exceed the amount owed for registration fees, students will receive a residual check approximately four weeks into the semester at our cashier’s office. Enrollment status (assumed attendance status) at the point payment is authorized by the Financial Aid Office will determine the amount of the award.

Example: If a student is enrolled in 12 credit hours on the first day of class but subsequently drops to nine credit hours prior to authorization for payment, the Financial Aid Office will authorize payment based on nine credit hours. If a student totally withdraws from classes prior to picking up the residual check, it will be canceled and refunded back to the appropriate Title IV account(s). A revised residual check will be issued to the student if appropriate.

Student loan proceeds will be disbursed on or after the first day of class each semester. As an exception, federal law specifies that freshmen, first-time borrowers cannot receive their first disbursement until after 30 days into the payment period. All loan proceeds are disbursed in at least two payments. Students must be attending at least six credit hours at the time they receive their student loan proceeds. Students who are employed in the Federal Work-Study Program are paid every two weeks. It should be noted that if a student unofficially withdraws from class (quits attending) and it is later discovered that Title IV funds were paid to the student for credit hours the student was not attending at the point Title IV funds were authorized to the student’s account, an overpayment may exist. In such cases, the student will be billed for the overpayment.

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		Disbursement of Federal/State Funds If Federal Pell Grant, Federal ACG, Federal SEOG, TSAA, and scholarship awards exceed the amount owed for registration fees, students will receive a residual check approximately four weeks into the semester at our cashier’s office. Enrollment status (assumed attendance status) at the point payment is authorized by the Financial Aid Office will determine the amount of the award. Example: If a student is enrolled in 12 credit hours on the first day of class but subsequently drops to nine credit hours prior to authorization for payment, the Financial Aid Office will authorize payment based on nine credit hours. If a student totally withdraws from classes prior to picking up the residual check, it will be canceled and refunded back to the appropriate Title IV account(s). A revised residual check will be issued to the student if appropriate. Student loan proceeds will be disbursed on or after the first day of class each semester. As an exception, federal law specifies that freshmen, first-time borrowers cannot receive their first disbursement until after 30 days into the payment period. All loan proceeds are disbursed in at least two payments. Students must be attending at least six credit hours at the time they receive their student loan proceeds. Students who are employed in the Federal Work-Study Program are paid every two weeks. It should be noted that if a student unofficially withdraws from class (quits attending) and it is later discovered that Title IV funds were paid to the student for credit hours the student was not attending at the point Title IV funds were authorized to the student’s account, an overpayment may exist. In such cases, the student will be billed for the overpayment. [Return to Financial Aid Homepage]