Loan Schedules and Disbursements
Financial aid is packaged based on award years. Each award year consists of two trimesters. Within an award year, your Financial Aid will be divided into 4 separate disbursements. Financial aid is disbursed within the parent terms of the trimester only. For Burgundy track students, parent terms are considered the A and the C terms which means that aid will not disburse in the overlapping B term. For Gold track students, parent terms are considered the B and the D terms which means that aid will not disburse in the overlapping C term.
Financial Aid will not disburse unless you have reached at least half time status in the trimester. For graduate students, half time status is 3 credit hours within the trimester. For undergraduate students, half time status is 6 credit hours within the trimester.
Example: If an undergraduate student on the burgundy track takes 6 credits in the "A" term and 6 credits in the "C" term, they will receive one disbursement in the A term and another disbursement in the C term. If a student takes only 3 credits in the A term and 3 credits in the C term, they will receive both disbursements in the C term since that is when they will reach the required 6 credits. If the student were to also take a course in the "B" term, the charges associate with this term will be deferred to the C term due date. Any financial aid that pays out during the C term will go towards the B & C terms. Any cost not covered by financial aid is the responsibility of the student and must be paid no later than 30 days after the start of the C term.
Students can find approximate dates for when their aid should disburse on the academic calendar for their track.
Students should contact Student Financial Services for additional questions regarding their loan schedule as well as disbursements.