Definition of Disbursement and Disbursement Methods

A disbursement may be defined as the application of any aid source to the student account, including, but not limited to, Title IV funding, Veteran’s benefits, State Grants, Private Loans, and institutional grants and scholarships. 

The disbursement policy allows for consistent application to student accounts that have scheduled and awarded funding. The policy outlines the process for funding when the student falls outside of the standard disbursement timeline. 

Students who elect to use Title IV Funding will be subjected to eligibility reviews at multiple checkpoints in the funding period. These checkpoints are implemented to ensure proper adherence to the policy and regulation. Students must meet eligibility requirements in order to receive subsequent disbursements within an aid 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. 

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

Academic Year Definitions:

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

Payment Period Definitions:

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

An academic year consists of two payment periods. Each payment period is equivalent to a semester.

Loan funds awarded for the academic year are equally awarded for each payment period.

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.

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.