Students who wish to receive FSA at AMU must be in an established FSA Academic Year. The academic year is a 32-week period made up of two, consecutive 16-week semesters.
Generally, FSA will be packaged for a full academic year and funds are considered disbursed once they post to the student’s account. FSA funds will pay directly to the school and be applied to the student’s account and all allowable charges.
At a minimum, all FSA funds disburse in at least two installments over the course of the academic year. The frequency of federal student loans disbursements will vary across categories of student borrowers.
Depending on student eligibility and funding type, FSA funds will disburse as outlined below.
Pell Grants must be spread out in disbursements over the course of a program of study to help meet the student’s cost in each payment period (16-week semester) the student attends during the applicable award year.
Students who are notified of their confirmed Pell Grant award prior to the semester are initially awarded based on their anticipated enrollment intensity for each semester of the academic year. However, disbursements made for each semester are based on actual enrollment intensity at “census” (the Monday after start).
Pell Grant disbursements are made approximately 3 weeks after the start of courses in each semester and funds are applied directly towards allowable, semester charges.
Be aware that:
- Adding registrations after census will not increase Pell Grant disbursements.
- Any decrease in credit hours, change in enrollment, or failure to successfully complete a semester, could result in the loss of some or all FSA funding, in accordance with Federal Student Aid provisions.
- Any changes to the FAFSA data as the result of verification or required corrections made by Financial Aid Services may result in an adjustment to the Pell Grant.
Standard Disbursement for an Academic Year (2 total installments – one per semester) Generally, Federal Direct Loans will be packaged for a full academic year. For students who fall into one of the following categories, the disbursements will occur in two equal installments over the course of their academic year, one per 16-week semester (term).
- Alumni returning to the university for another program
- Students returning to take courses who have previously earned credit at the university
- Graduate and doctoral students
Funds will disburse approximately 3 weeks after the start of courses, with the exception of first-year, first- time loan borrower for which funds will disburse no sooner than 30 days after the start of their first course. Students must be enrolled at least half-time to receive Federal Direct Loans.
BE AWARE THAT:
- Students must be enrolled by the census (2ND Monday) of each semester to be considered for any FSA disbursement(s).
- We encourage students to have all planned courses registered by census, even if courses begin later in the semester or the student changes their schedule later.
- Federal Direct Loan borrowers must be half-time to receive loan disbursements
- Students must maintain all eligibility requirements at the time of disbursement to receive FSA funding. It is the student’s responsibility to review all financial aid policies and the student handbook.
Standard Disbursement for a Single-Semester Loan (2 total installments per semester)
In certain scenarios, a Federal Direct Loan may be packaged for a single 16-week semester versus an entire academic year, such as when completing a program in one semester or transferring from another school.
In accordance with disbursement standards, any loan(s) packaged for a single-semester will disburse in two equal installments as follows:
- Disbursement #1: 50% of the eligible loan funding will disburse approximately 3 weeks after the start of the first course.
NOTE: If you are a first-year, first-time loan borrower, disbursement will be approximately 5 weeks after the start of their first course. - Disbursement #2: The remaining 50% of the eligible loan funding will disburse approximately 11 weeks after the start of their first course.
Multiple Disbursements for an Academic Year (4 total installments – two per semester)
For undergraduate students who fall into one of the following categories, disbursements will occur in four equal installments over the course of their academic year, two per 16-week semester as outlined below.
Students with no Previously Earned Credits at the University: Students who have not earned credits at the university at the time of their FSA academic year creation.
- Disbursement #1: 50% of the eligible loan funding will disburse approximately 3 weeks after the start of their first course.
Disbursement #2: The remaining 50% of the eligible loan funding will disburse approximately 11 weeks after the start of their first course.
First-Year, First-Time Federal Direct Loan Borrowers with no Previously Earned Credits at the University
- Disbursement #1: 50% of the eligible loan funding will disburse approximately 5 weeks after the start of their first course. Disbursement #2: The remaining 50% of the eligible loan funding will disburse approximately 11 weeks after the start of their first course.
An FSA Credit Balance (commonly referred to as a “refund”) occurs when the amount of FSA received exceeds allowable, outstanding, charges, regardless of pay type. Learn more by reading the Help Center Article on Federal Student Aid (FSA) Credit Balance Refunds.
Questions related to the disbursement or eligibility requirements may be directed to [email protected] or 855-731-9218.