The Financial Aid Office authorizes fund disbursement in accordance with all statutory provisions of or applicable to Title IV of the HEA. Students will be notified when loan funds will be disbursed to their student accounts no earlier than 30 days prior and no later than 30 days after the anticipated disbursement date. The notification will include the amount of the disbursement, the right to cancel all or part of a loan, and the time frame in which to do so.
Prior to funds being authorized for disbursement, the following items will be checked for completion and recorded:
- Satisfactory academic progress
- Enrollment at least half-time
- Loan promissory note(s)
- Required financial aid counseling session(s)
- Student has reviewed financial aid offers on the Financial Aid Portal, and has either accepted/reduced/declined each federal student loan offer.
- Funds will be disbursed directly to the student’s account in PowerCampus by the Finance Office up to five days prior to the first day of class. Any credit balance will be released to the student (EFT Direct Deposit) as soon as possible, but no later than three days after disbursement. Federal student loans require at least two disbursements of equal amounts. Loan funds will be disbursed at the beginning of each semester, or at the beginning and midpoint if the student is only attending one semester.