Definition of Disbursement and Disbursement Methods

Federal student aid funds are considered disbursed when they are credited to a student’s account.

Academic Year Definitions:

• Undergraduate Academic Year – 24 semester credits and at least 30 instructional weeks
• Graduate Academic Year – 18 semester credits and at least 30 instructional weeks

Payment Period Definitions:

• Undergraduate Payment Period – 12 semester credits and at least 15 instructional weeks
• Graduate Payment Period – 9 semester credits and at least 15 Instructional weeks

An academic year consists of two payment periods. Each payment period is half of the credits and half of the weeks within the academic year. Students must complete both the credits and the weeks in the payment period to be considered to have completed the payment period.

Loan funds awarded for the academic year are equally awarded for each payment period. Pell Grant funds are awarded for each payment period within the Award Year.

Students must be making Satisfactory Academic Progress and all required documents must have been submitted to the Financial Aid Office before any disbursement can be made. The University reserves the right to make multiple disbursements within each payment period to align with the timing of charges being assessed.

Tuition and fees are charged to the account after the seven-day drop/add period and for which they have demonstrated participation in the course. More than one course may be taken at the same time, and therefore charges are accrued simultaneously.

Students must complete ½ of the semester credits AND ½ of the instructional weeks in the academic year before a subsequent payment period’s disbursement of aid can be credited to their account.

Responsibility for Disbursement of Funds

Federal regulations require a clear and distinct separation of functions between the team authorizing FSA payments and the team disbursing FSA funds..

The Student and Financial Services Team  ensures the accurate and appropriate awarding of aid. The Student and Financial Services Team  also verifies the student’s eligibility and enrollment status at the time of disbursement. The results of the review are then forwarded to the Accounting Team for funds to be either credited to the student’s account or returned to the funding program.

The Accounting Team has the responsibility for disbursing and posting loan, grant, and scholarship funds to the appropriate student’s account. The Accounting Team credits the student’s account within three business days of receipt of the funds.