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7.7.2 Financial Aid Distribution

Policy

The Financial Aid Office processes all financial aid applications. When completed, reviewed, and approved, the aid is applied to the student’s account.

There are three types of financial aid.  They are loans, employment, and money that does not need to be repaid like grants, scholarships, and waivers:

  • Waivers are specified as to the session and the specific charges that can be paid.  This type of aid enters the Campus Solutions (CS) system as soon as allowable charges exist.  Any amount of the waiver that exceeds allowable charges will be adjusted to match the allowable charges.
  • Grants and Scholarships are specified as to the session, to specific charges that can be paid, and align with the scholarship or grants stipulated rules.  This type of aid enters the Campus Solutions (CS) system as soon as the funds are received.  Any amount of the scholarship or grant that exceeds allowable charges maybe refunded to the student (see the Refunds policy).
  • Loans can typically pay for any charges that occur on an account.  This type of aid enters the Campus Solutions (CS) system as soon as the funds are received.  This aid is applied to appropriate charges based on the established rules, and in some cases, the excess may be refunded to the student (see the Refunds policy).
  • Federal work study is employment and a type of financial aid.  Students eligible for federal work study receive a paycheck for hours worked.  These funds are disbursed through the Payroll office.

Grants, scholarships, and loans apply to the student's account and may be released no sooner than the Friday before the first day of classes.

Initiating body: Vice President for Finance and Planning

Contact: Student Accounts (309-438-5643)

Revised on: 04/2017


2017-08-18T10:33:44.718-05:00 2017
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