How and when will my financial aid be paid, applied, or disbursed to my account?
Your financial aid will be applied to ALL University fees and charges. Federal financial aid may be applied to allowable charges only (incidental fees, general fees, off-campus fees, textbook rental fees and on-campus room and board charges) provided you notify SFS by email at email@example.com. If choosing this option you are responsible for paying any other miscellaneous charges on your account by cash, check or credit card. You may cancel or modify this authorization at any time.
If all of your paperwork has been submitted and processed, you are enrolled in the required number of hours and meet all program criteria aid is disbursed as follows:
- Federal Stafford and Federal Direct Loans
No earlier than 10 days prior to the beginning of the semester.
- Institutional Scholarships (those based on mid-term grades and/or performance criteria)
The week of or week Immediately following the date requirements are fulfilled and our office is notified.
- State Grants and Scholarships
Determined by the state but usually occurs within the first few weeks of the semester.
- All Other Federal, State, Institutional Aid (not student employment)
Beginning the second week of the semester.
- Student Employment
Paid directly to you through a paycheck or direct deposit on a bi-weekly cycle.
To sign up for direct deposit for payroll, please complete the Direct Deposit Authorization Form for payroll, and return it with your completed Student Work Referral paperwork to Student Financial Services.
- Summer Session Aid
If enrolled in pre-Sessions, second week of this session (loans). First and second week of eight-week session (loans and all other aid).
Aid is disbursed on a weekly basis for students who become eligible after the semester begins.
When will I receive a refund if my aid exceeds my charges?
Refunds are processed beginning the end of the second week of the semester. Refunds can be directly deposited to your checking or savings account or sent by check to your permanent home address. Refunds will continue to be processed on a weekly basis throughout the semester.
You may sign up for direct deposit by selecting Refund Direct Deposit under the Account Summary Option of your student portal. You may access your account summary at http://portal.semo.edu.