With the exception of Federal Work Study, financial aid processed by the Office of Financial Aid will automatically be disbursed to the studentís student account, provided his/her application is complete and the student has met the requirements for each type of aid. The Office of Student Accounts will automatically deduct incurred costs (tuition, fees, lab costs, and other authorized charges such as books and supplies, etc.) out of the financial aid that is credited to the studentís account. Any remaining financial aid is refunded to the student once the funds are available. With the exception of Federal Direct Parent PLUS Loans for which the parent has requested the refund, refunds will be issued via the Owens Higher One card and will be delivered in the manner the student chooses:
For more information on the Owens Higher One Card, please see the Office of Student Accounts website.
Private scholarship checks received by the College will be directly applied to the studentís student account unless otherwise specified by the scholarship donor. When the Office of Financial Aid is notified, it will be listed as part of the studentís aid package as an "outside scholarship".
If the studentís Federal Direct Stafford Loan is for only one semester, the loan will be issued in two separate disbursements within the semester. The second disbursement will be provided after half of the semester has been completed. New freshman Federal Direct Stafford Loan borrowers should note that federal regulations require the first disbursement of a Federal Direct Stafford Loan to be delayed until 30 days after the start of classes.
All Federal Direct Stafford Loan borrowers are required to be enrolled, have attendance verified in and maintain at least six credit hours at time of disbursement.