Federal regulations require institutions to apply payment of financial aid to outstanding student account balances no more than ten days prior to the start of classes.
This means if a semester begins on the 26th of August, the earliest financial aid can be applied to a student’s tuition and fees balance is August 16th.
Regulations also require a student’s financial aid eligibility be checked before any financial aid is applied to a student’s balance. This means if grades for the previous semester are not yet on the system, financial aid cannot pay for the new semester.
After financial aid payment is applied, the funds are taken over by the Office of Student Business Services (SBS). This office will send refunds to students the first week of classes. It is the student’s responsibility to ensure SBS has the correct mailing address and the correct bank account information.