DISBURSEMENTS | FINANCIAL AID
The Bursar's Office works in conjunction with the Office for Student Financial Aid to deliver financial aid funds to students in accordance with Federal, State, and Institutional policy.
WHAT DOES THE BURSAR'S OFFICE DO?
The Bursar's Office does the following:
- Determine what tuition/fee expenses are paid based on enrollment data
- Send invoices to students to notify them of amount owed each term
- Sends information to students regarding Title IV Permissions.
- Apply financial aid disbursements to Student Accounts in PeopleSoft for payment of tuition and other enrollment fees.
- Apply student financial aid disbursements to payment of other fees which include parking, laptop computer (medical students only), and diploma fees if the student has granted permission.
- Issue and release funds generated after payment (credit balances, refunds) after all expenses are paid.
- Notify students by email when credit balance funds are transferred to their BankMobile Account.
What does the Office for Student Financial Aid do?
The Office for Financial Aid will do the following:
- Verify the students continued academic and financial eligibility prior to disbursement.
- Authorize the release of funds for tuition and fee payment.
- Send a notice to students no more than two weeks after disbursement to notify students that federal loan funds were posted to their PeopleSoft accounts. The notices will also remind students of their right to reduce or cancel student loans.
When are Awards disbursed that are made prior to registration dates?
Student aid offered and accepted at least one week prior to registration dates are posted to Student Accounts on the 2nd day of classes. The Bursar’s Office will apply the aid disbursements to expenses assessed for enrollment and other items purchased through the university. Excess funds (or credit balances) will be issued by the Bursar’s Office to the financial aid recipient’s selected refund preference with BankMobile account generally within the first week of classes but no more than 14 business days after the aid was disbursed.
When are Awards disbursed that are made prior on or after registration dates?
Disbursements for student aid awarded on or after registration dates occur weekly. The Bursar’s Office will apply the aid disbursements to expenses owed to the university and issue excess funds or credit balances to post to students' selected refund preference with BankMobile accounts usually within 5 business days, but no more than 14 business days after the aid was disbursed.