Students who live off-campus or have high personal expenses often rely on this refund to fund their month-to-month costs. The Initial Credit to Your School Account Most traditional grant and loan funds are sent directly to your educational institution rather than to your personal bank account.
How Financial Aid Is Disbursed Step by Step
Grants: Timing and Conditions While the disbursement process is similar across programs, there are distinct differences between grants and loans. When managing external scholarships, the rules vary significantly; some send the check directly to you, requiring you to pay the school, while others forward the funds automatically.
The process moves money from the government or a private lender through your school and directly to your tuition bill. It is important to note that you must complete entrance counseling and a Master Promissory Note before loan funds can be released.
How Financial Aid Is Disbursed Step by Step
Disbursement from private lenders can be slightly delayed while they verify enrollment with the school. Your school issues a paycheck, usually bi-weekly or monthly, based on the hours you log.
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