FINANCIAL AID PUBLICATIONS

STUDENT FINANCIAL AID HANDBOOK

2011– 2012

Chapter Five

HOW WILL YOU RECEIVE THE FUNDS THAT YOU HAVE ACCEPTED?

Funds are electronically wired to the University and posted to your student account for programs such as the William D. Ford Direct Loan Program and alternative loans. Funds for which the University receives allocations, and in turn award to its students, are posted to student accounts through the University's automated system. This pertains to programs such as the Federal Perkins Loan, Health Professions Student Loan, Loan for Disadvantaged Students, Scholarship for Disadvantaged Students, Primary Care Loan, Disadvantaged Student Fund, Federal Pell Grant, Supplemental Educational Opportunity Fund, Tuition Aid Grant and Educational Opportunity Fund. Some programs have specialized payment procedures such as the Armed Forces Scholarship Programs and the National Health Service Corps.

In all cases, after funds are applied to tuition and fees, remaining balances not needed to satisfy university charges will be refunded. Refunds will be processed by the Business Office wither by check or direct deposit to the student's own checking or savings account. Contact your campus cashier for further information on how financial aid is credited to your account and when/how refunds are generated.