- Created by Decker, Lana, last modified by McSherry, Rebekah Marilyn (Student Financial Services) on Sep 20, 2023
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- 10.0.0.0 Financial Aid Disbursement Policy
- 11.1.0.0 2022-23 Financial Aid Satisfactory Academic Progress Policy
- 11.1.0.0 2023-24 Financial Aid Satisfactory Academic Progress Policy
- 12.1.0.0 2023-24 Financial Aid Withdrawal Policy
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- 3.2.3.0 2022-23 Financial Aid Repeat Coursework Policy
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- 3.2.7.0 2023-24 Courses in Program of Study CPOS
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- 3.5.4.0 2023-2024 Financial Aid General Scholarship Rule Policy
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10.0.0.0 Financial Aid Disbursement Policy
Policy Information
Issuing Office
Financial Aid
Affected Parties
Students
Policy Language
All financial aid is disbursed 21 days following the student meeting the necessary enrollment requirement, depending on the type of aid received.
Policy Rationale
This policy is in place to ensure the proper use and disbursement of aid. It also helps combat potential financial aid fraud.
Definition of Glossary Terms
Disbursement: The process in which the school pays funds directly to the student's school account from either internal or external aid sources, which is different from a refund. Aid sources include scholarships, grants, loans and other aid.
Procedural Information
Procedures
Each aid disbursement is set up to disburse to a student’s account 21 days following his or her enrollment requirement for the type of aid being received. Checks and holds are in place in Banner to ensure this policy is correctly implemented.
Sanctions
None specified
Exceptions
Exemptions are not considered funds and therefore will show as a payment or discount toward an account prior to the 21 day disbursement timeframe.
Initial Approval Date
7/1/2014
Date of Last Review
3/15/2023
Date for Review
3/15/2024 (Annual)
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