What is an aid disbursement?
A disbursement is the payment of federal student aid funds to the student by the school. Students generally receive their federal student aid in two or more disbursements.
What does anticipated aid mean?
Financial aid that has been awarded but has not been received and credited to your account is anticipated. Anticipated aid allows you to pay the amount due for tuition and fees less the amount expected in aid. …
What are 4 types of financial aid assistance?
There are four main types of financial aid: loans, grants, scholarships, and work-study. In a given financial aid package, a student may qualify for multiples types of aid depending on how much financial need they (and their family) demonstrate and their academic merit.
Is financial aid refund free money?
If you receive a refund from unused federal student loan money, you’re free to keep it, but remember you’re still borrowing that money. You will need to pay any federal loan money refunded to you, with interest, starting six to nine months after you graduate.
Why does my Pell Grant say anticipated?
An anticipated financial aid credit is a credit that is expected to post to your student account at a future date. Anticipated financial aid credits are based on what our office has on record., in other words, aid that is already viewable by you in the SFS Self-Service Portal.
What does anticipated balance mean?
The anticipated balance is the balance that an account will have at some point in the future, assuming no additional withdrawals or deposits occur.
What is the most common financial aid?
Federal grants and loans are among the most common forms of financial aid. However, many other options are available. Work-study programs allow students to work part-time to earn money for their education.
Where does financial aid go when it is disbursed?
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. 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.
What happens when student aid exceeds the cost of attendance?
When the total of all aid received by the student exceeds the student’s cost of attendance budget, awards in the package will be adjusted (cancelled or reduced) in order to eliminate the overaward. Loans will be reduced before any reduction is made to any other awards.
What happens if I drop out of UW financial aid?
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. If you are a first time borrower at the UW with a Stafford, Unsubsidized or Graduate PLUS loan, you will be required to complete Entrance Counseling before your loan can be disbursed.
What happens if you withdraw from student aid?
If you withdraw during the quarter, you may have to repay some of your aid. If you do not officially withdraw but fail to pass any classes, you will be considered to have unofficially withdrawn and may have to repay aid. A withdrawal may affect your future aid eligibility.