Any tuition, fees, and on-campus housing balance should be directed to Student Financial Services. Scholarship funds will begin disbursing to your student account the first day of the semester as long as you are enrolled in the credit hours required to receive your award s.
If your scholarship funds do not cover your tuition, fees, and on-campus housing balance, you are responsible for paying the difference to Student Financial Services. If your scholarship funds exceed the cost of your tuition, fees, and on-campus housing balance, Student Financial Services will issue a refund. There are several requirements you must meet for your aid to disburse. Make sure you do the following:. This process can take several hours because we have millions of dollars to disburse.
In certain situations, your aid may have been canceled due to a change in your award eligibility. Any class schedule changes may affect your tuition, fees, and on-campus housing balance. Monitor your MyUNT closely and take action to secure your classes. You can pay the difference in full out of pocket on MyUNT. If you are unable to pay the full amount owed, you can enroll in an installment plan option by reviewing your holds through MyUNT. Pell Grants automatically disburse for students one business day after full-time enrollment is met.
If you just registered for classes, give it a little more time for your award to disburse. If you drop below full-time before the 12th class date, your Pell Grant will be prorated to match your new enrollment. If you will not be enrolled full-time, your award has to be manually reviewed and disbursed and this process can take up to two weeks.
Please be sure to read the terms of your awards and learn about the requirements you must meet to maintain eligibility. These requirements are called Satisfactory Academic Progress standards.
Next, your award funds are credited to your account, usually 10 days before your first class day for a term. Any tuition you still owe to the college is deducted from these funds. Skip to main content. Refunds for all types of financial aid will begin 30 days after the start of the semester. You will receive loan funds in two disbursements each semester. Repeat Undergraduate Borrower, Direct Loans —You will receive funds at least 10 days prior to the start of term. Student, Work Study Funds —Assuming you work throughout the year, you will be paid at least once per month.
Your college might even pay biweekly. Colleges and universities disburse financial aid in at least two installments each year. Anything left over gets refunded to you. Again, anything left over gets refunded to you. The total amount will equal the amount listed on your accepted financial aid package. Sometimes, your financial situation changes in a good way. When this happens, you can return any unused loan money within days of disbursement without having to pay any interest.
If you wait longer than days, you might owe a small amount of interest on the returned amount. It might seem like an easy way to stash some quick cash, but it will cost you in the end. Grant money works differently. If you receive a refund from a Pell Grant, keep the money to help pay for your books, supplies, housing, transportation, and other related college expenses. Grants do not have to be repaid and do not accrue interest.
The rest of the money gets refunded to you to use to cover any other college-related costs, including books and supplies and living expenses. Your college or university will refund you any remaining financial aid money after using it to pay for tuition, room and board, and required fees. Remaining funds get disbursed to you as directed—a check or a deposit into your bank account. Some schools also offer students book vouchers for the student bookstore, but you can opt out of these and purchase books on your own.
It nearly always makes more financial sense to get your books somewhere else. Colleges and universities participating in federal student aid programs must give you a way to purchase your books and supplies by the seventh day of the semester. Of course, this only applies if:. If there is any other money remaining, your school will get that to you at some point during the semester.
The exact time frame for those refunds is up to the college. Repayment can start as soon as your loans are disbursed, or you can wait until you hit your repayment period:.
Parent borrowers can make payments immediately or choose a deferment option :.
0コメント