Disbursements

General Information

If you're new to the college financial aid scene, you may have questions about how funds are disbursed. Here's some general information you might find useful. (Current students: check the Student Portal for more complete information.)

• Most financial aid is credited directly to the student's account each term. Funds are credited only after all requested documentation has been received and verified.
• Perkins Loans require a signed promissory note prior to disbursement. Stafford Loan disbursements are sent directly to the University through electronic funds transfer. Co-payable checks can be sent at the borrower's request. Stafford Loans require a 30-day delayed disbursement for first-time borrowers.
• Campus employment earnings are not credited to the student account.
• Any monies credited to student accounts, not needed for direct institutional charges, will be refunded to students in accordance with federal regulations, provided the student is still enrolled at least half-time.
• Any credit balances remaining on student accounts at the end of a semester will be refunded to the student, provided the student has completed the semester (i.e., not completely withdrawn from the university or dropped to less than half-time status during the semester) and has not requested that the credit balance be retained on the account against future charges.

How Financial Aid is Applied

Most students will have several components to their financial aid packages. Each portion of your aid will be applied to your account in this order:

• Federal and State grants. Michigan Tuition Grant and Michigan Competitive Scholarship funds are applied to the tuition balance only. Indiana State grants are also applied first.
• Pell Grant and Federal Supplemental Educational Opportunity Grant (FSEOG). These may be used to cover campus housing and/or fees and books.
• Other outside funds, such as Vocational Rehabilitation or BIA Awards. Generally, such agencies are billed for the tuition due after all other grant aid has been applied to the student's account. (Some outside awards may have restrictions, such as only covering tuition and books.)
• Student loans are applied as they are received and endorsed, to cover any remaining balance.
• Institutional grants and scholarships. These cover any balance due only after all other aid has been applied.

NOTE: If an outside funding agency specifically requests a different order of application, the campus Financial Aid Processing Center must receive both oral instructions and written confirmation from the agency before authorizing an exception.