Financial aid balance
Financial Aid Awards are designed for the needy students based on the demonstrate need of FASFA. Financial Aid Awards are disbursed as per the predetermined terms and conditions. Disbursements of Financial Aid will be made electronically to your University student account,which you have mentioned in FASFA form. Stduents are required to register ON time to gain minimum number of credits required by your Financial Aid Award program(s).
And also complete all the necessary paperwork, which can prevent you from holding the disbursement of your Financial Aid Amount. When the award amount is disbursed to your student account, it can be utililise for tuition, fees, and on-campus room and Housing expenses. If the issued amount is less than the required amount, then your account will shows the due remainder. If your aid amount is greater than total expenses, your account shows a credit balance.
Financial Aid expenses will be varies from term to term. But the current financial aid amount will not pay the due amount of earlier term. As per the Federal government rules and regulations, Financial Aid amount will be useful to pay only some charges until you request them to pay institutional charges. Financial Aid Amount will not authorize to pay the charges of long distance telephone, late registrations, late payment fees, library fines, and aviation training. The balance amount will be paid credit card, cash, money order, cashier's check and certified check.
Financial Aid Balance claiming procedure:
If a student is not received Fall Semester checks, they are advised to intimate Office of Admissions and Student Financial Aid. Otherwise their spring semester Financial Aid will be cancelled. Fall Semester Financial Aid Balance Checks will be disbursed through mails during the first week of classes. Financial Aid Awards are determined on the basis of full time enrollment. If a student enrolls as a part time, then the award amount will be adjusted accordingly. Financial Aid Balance Checks are mailed to the address given by you at the Registrars Office.
The Financial Aid Office and Student Accounting Services Office is works closely to timely delivery of aid amounts to the students. A credit balance check is the amount of money, usually from financial aid, that remains after all of a students charges are paid in full.If a students receives credit balance,he need to register the number of credits for which your financial aid is calculated and also exhibit your student account to show the accurate charges related to Cost of attendance to the concerned term. Credit balance reimbursement will done if you have been met the criteria.
Credit Balance Funds Method:
When a student account is overpaid then Credit Balance Funds will be created to reimburse the students. The way of refunding will be through:
1. Credit Card Payments credited back to the credit card.
2. Direct Deposit for Graduate and Professional Students only. Direct Deposit funds are transferred to directly to the student's bank account.
3. Credit Balance Checks created for all other accounts are disbursed by the Office of Assistant Treasurer