Key dates and deadlines. Financial aid generally begins disbursing one week prior to the first day of the quarter. To have your aid disbursed, you must have been awarded and have accepted your aid, not have any holds on your aid, if you are borrowing loans have completed required entrance counseling and signed promissory notes, and are registered for the minimum required credits.
If these conditions have been met, aid will disburse first to your University student account to pay your tuition, U-PASS, late change, and other university fees. Financial aid funds will not pay the late tuition payment fee and this fee requires a separate payment. If the amount of your aid is greater than the charges on your student account, the difference will be sent to your bank account via direct deposit.
If you are not signed up for direct deposit, an aid check will be automatically mailed to your local address on file. Please check your address information on MyUW and update it if necessary. Aid checks may take up to 10 business days to reach you by mail; signing up for direct deposit will allow you to receive your funds quickly and safely. Financial aid funds disbursed via direct deposit or paper check are available for you to use for your educational expenses—books, housing, food, transportation, or personal expenses.
Financial aid is disbursed to you directly at the start of the quarter so you can purchase books or other educational materials before classes begin for the quarter. The easiest and quickest way to sign up for direct deposit or to confirm your direct deposit status is through your Financial Aid Status under Student Finances in MyUW.
If you are not able to access this site, contact Student Fiscal Services. If you have any holds on your aid, it will not disburse. If you have been asked to provide documents or information or have been told that the Financial Aid Office is reviewing your eligibility, follow up with them as soon as possible.
You can tell what aid is available to you, what has been disbursed and whether or not there are any holds on your aid by using the Financial Aid Status Service in MyUW under Student Finances. Generally, if you live in UW Housing, there are some HFS charges added to your University student account at the start of each quarter. Your financial aid will pay these initial charges, but that may not be all that you owe to HFS.
Before spending any aid sent to your bank account through direct deposit, check the HFS website to determine the balance you owe them.
You can also view the amount of the aid that applied to your housing charges on MyUW. If you are enrolled in Professional and Continuing Education PCE courses, you are generally billed through a separate system. Your financial aid will pay any PCE charges before any remaining aid is sent direct deposit. You must be registered for a full-time credit load 12 credits for undergraduates and professional students; 10 credits for graduate students in order for aid, except Stafford and PLUS Loans, to be disbursed.
If you have been awarded aid as a less than full-time student see the Financial Aid Office for minimum credit load information. After the start of classes, if you drop below full-time enrollment, aid already disbursed to pay charges on your account will not be canceled; however, no additional aid will be disbursed to you. If you drop below full-time before the start of classes and aid has been disbursed to you, you will owe a repayment of aid.
Generally students who borrowed through the Federal Direct Stafford Loan Program last year and signed a promissory note will not be required to sign a new promissory note for a Federal Direct Stafford or Unsubsidized Stafford Loan this year. You are required to sign your promissory notes even if you expect your entire loan to be used to pay charges on your University account.
If you borrowed a GPLUS in the previous year usually you do not have to sign a master promissory note again. If your loan is approved, funds will disburse to your student account. Once your loan has been awarded each academic year, you need to accept, decrease, or decline your loans in LionPATH.
Keep in mind that we typically award for both Fall and Spring together, so you are accepting the total amount for the year. If you are a returning student, this option will be available once you have been awarded in mid-June. Click here for more information about how to accept, decrease, or decline your awards. In most cases, you will only need to complete these items once during your college career. You can complete these requirements at any time once you have been accepted to Penn State.
Once these items are completed on studentaid. Federal regulations require Penn State to confirm whether or not you have taken credits at another institution during the most recent academic year. If you have not used federal aid in the most recent academic year, you will not have to take any action. Once the updated information loads in 8 - 10 days, the hold will automatically be removed from your record.
If you have used federal aid in the most recent academic year, or if you have aid pending at another institution you should be in contact with that school to cancel the aid at the Common Origination and Disbursement COD System federal database. We will manually review your record, make any aid adjustments if necessary, and remove the hold. This hold will not interrupt the awarding of financial aid or scheduling your courses; however, it will prevent your aid from disbursing until the review of your record is complete.
You will receive an email from our office, which explains what documentation must be provided if you are selected for verification. Follow all directions, and respond quickly to this request to avoid a delay in the processing of your aid. Parental signature is required on the verification documents for dependent students. Your To Do List Item will show as "Received" once the information is received, reviewed, and then manually updated by our office.
This is not automatically updated when you upload the item s.
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