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Financial Aid Disbursement
Crediting Financial
Aid to My Student Account Balance
All
approved loans, grants and scholarships will be applied to
tuition and fees, resident hall rent and food service plans
on your student account. In order to apply aid to student
account balance, the student must be registered for the required
hours to qualify for the aid (i.e., if the aid awarded requires
full time enrollment (as determined by The Office of Student
Financial Aid), the student must be registered full time in
order to apply the financial aid to tuition and fees, resident
hall rent and food service plans). Please note: alternative
loans and some scholarships checks which are mailed directly
to the University from private sources are not available to
apply to charges. Before LOANS are available to apply to tuition
and fees, resident hall rent and food service plans the following
items must be completed by the student:
An award
letter must be returned to The Office of Student Financial
Aid. The student must indicate on the award letter the dollar
amount of the loan they wish to accept.
Promissory notes need to be completed online at
https://studentloans.gov.
Complete the MPN that pertains to the loan you requested. The University of Georgia receives acknowledgment of the signed MPN within 3 to 5 business days.
It is
University policy to deduct unpaid tuition and fees, resident
hall rent and food services charges from available financial
aid awards regardless of the due date on the student account.
It is the student’s responsibility to confirm that their student
account balance has been paid in full. Please access your
student account at MY
STUDENT ACCOUNT.
Changes
in the Hope Scholarship regulations will have an impact on
the amount credited to your student account and/or your financial
aid disbursement.
Financial Aid Disbursement Policies and Procedures
Excess financial aid (loans, grants, including Pell Grant, and scholarships) will be disbursed ten days prior to the start of each term. For summer term the disbursement will be made no earlier than 10 days prior to the start of the earliest registered session within the summer term. In general, disbursements are made if the student is registered for the REQUIRED number of hours, is not on academic probation, and does not have outstanding financial obligations with the University.
Any refund due to the student will be direct deposited into the student's bank account if the student has enrolled for this service. Students may select to receive student account refund(s) and financial aid disbursement(s) if applicable via direct deposit. In order to begin this service, please access your student account, select "my profiles", "payment profile" and add your bank account information accordingly. You will need to check the "refund option" in order to activate the direct deposit feature. Only one bank account may be designated as the direct deposit account.
If you have not enrolled in direct deposit the funds will be mailed to the "Financial Mail" address specified by the student in the OASIS registration system. Consult How do I change my "Financial Mail" address in OASIS? For directions on how to check or change your check mailing address.
Loan checks and some scholarships coming from outside the University will be disbursed to students as soon as they are received and processed by the University, but no earlier than 10 days prior to the start of the term. For summer term the disbursement will be made no earlier than 10 days prior to the start of the earliest registered session within the summer term. Please check with your lender or awarding organization to determine when the funds will be mailed/wired to the University.
Authorization to Use Financial Aid to Pay Student Account
Charges
Financial
aid funds are available to pay tuition and mandatory fees,
residence hall rent and food service plans.
With your permission, the University can apply your
financial aid award to your student account to pay other charges.
Currently these other charges include: housing damage
charges, housing bike lock rental, housing lock change charges,
early check-in charges, student SEVIS fee, parking fines,
parking permits, late fees, reinstatement fees and returned
check charges.
If
you wish to allow the University to use your financial aid
to pay these charges mentioned above, please access Student
Accounts at MY
STUDENT ACCOUNT.
Using Financial Aid to Pay Deferred Charges
Students
who have been authorized for a deferment of tuition and fees,
residence hall rent, food service plans and/or book charges
due to in-process financial aid,
will show a charge on the student account system called
deferred charges. As the financial aid is awarded and completed
processing it will be used to pay the deferred charges on
the student account. Any
balance remaining after the deferred charges have been satisfied
will be disbursed as indicated in the Check Disbursement Policies
and Procedures.
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