Financial Aid Academic Year and Disbursements
An Academic Year is 32 weeks long and funding payments are split into two equal disbursements per Academic Year, generally made within each 16-week term. Federal student aid funds, along with any additional educational funds received from sponsors or other sources for application toward tuition and fees, are applied to the student’s account to cover charges for the appropriate period of enrollment. If funds are available in excess of tuition and other costs, the student and/or sponsor is entitled to the credit balance ($1 and above) on the account for the semester in which the credit occurred. Credit balances will be disbursed to the student, sponsor, or other source in accordance with all governing federal regulations.
The University estimates a timeframe of up to 60 days from the start date of the term, for funds to be posted and received via postal mail, if applicable. This timeline is inclusive of federal funding disbursement eligibility review as well as the timeframe anticipated for students to receive their stipend, if applicable.
The student is responsible for any balance that federal student aid funds do not cover. Payment method information can be found here.