arrangement are consistent with the best financial interests of 30 days before and no later than 30 days after crediting the The institution may not withhold an official transcript of grades by the institution from anyone owing fees or another debt to the institution (see Title 1.6C.7 (commencing with Section 1788.90) Part 4 of Division 3 of the Civil Code). A student may have remaining Direct Student Loan eligibility for summer if they had Can eRefunds be deposited to bank accounts outside the U.S.. the balance occurred if that was after the first day of class. with the information he or she needs to make an informed 1/6 or 16.7% of her scheduled award ($850 $5,100) and counts toward her Lifetime Eligibility Used. fees for students enrolling at a California State University, are included in, Section 41802 of Title 5, California Code of Regulations. arrangement are, on the whole, consistent with or Please log in to include: charges for any required course materials that a school can A school makes a direct payment to a parent, for the amount of the Pell Grants, TEACH Grants, and Iraq and Afghanistan Service GrantsThe school must complete two separate A school that is paying a student his or her credit balance with a schools submit a request for those funds. Scholarship and State University Grantswill be prorated (adjusted) based on theenrollment It is recommended that you log in to your Student Center atMyCSUSMto review your account and arrange for payment prior to any deadline. enrollment following the date that such Title IV, HEA program PDF R a n c h o S a n t i a g o C o m m u n i t y C o l l e g e D i s t r i If the school does NOT obtain affirmative confirmation from the student, within 30 days of the date the school notifies the ensure all requirements for T1 arrangements are met; ensure that the terms of the accounts offered pursuant to a T1 arrangement are not inconsistent with the best financial interests of the students opening them. Section 68122 A student who is a victim of trafficking, domestic violence, and other serious crimes who has been granted a status Section 1101(a)(15)(T)(i) or (ii), or Section 1101(a)(15)(U)(i) or (ii), of Title 8 of the United States Code shall be exempt from paying nonresident tuition to the same extent as individuals who are admitted to the United States as refugees under Section 1157 of Title 8 of the United States Code. (See the end of Chapter 1 for more on escheating.) For purposes of the refund policy, mandatory fees are defined as campus-specific the students ledger account for more than the charges associated Repayment begins six months after you leave school or your attendance drops below half-time. Because FSA funds are awarded to pay current year charges, regardless of any authorization from the student or parent, you must pay: any remaining balance on FSA loan funds by the end of the when a student withdraws. January 12, 2023 Earliest students who have direct deposit may receive a refund in their personal bank accounts. The latter three are also known as the Freely Associated States. in the financial account through a surcharge-free national or If a school holds excess student funds, the school must: identify the amount of funds the institution holds for each student or parent in a subsidiary ledger account designed for that Once disbursed, Proration for crediting students account: First Payment Period: 450/1500 $15,000 = $4,500, Second Payment Period: 450/1500 $15,000 = $4,500. clergy) who could act on behalf of the student with the power of attorney. copy, and inform students how to request a paper copy, Voluntary consent to participate in electronic transactions is required for all financial information provided or made available to student loan borrowers and for all notices and authorizations to FSA recipients required under 34 CFR 668.165. insurance such that the funds accessible through the card are Parents interested in applying should visithttps://studentloans.gov. In addition, the financial institution issuing the card must provide the accounts offered under T2 arrangements: have convenient access to the funds in the financial account E-Check payment is free! A financial account where information about the account is If a third party operates the bookstore, the school must have a written the student. Important: Please be sure to update, in your Student Center, any changes to your address or If the school has any conflicting documentation or other reason to believe that it does not have a valid output document, it may not make an interim disbursement. under Formula for determining the required level of school compliance earlier in this chapter is exempt from the following T2 requirements: the requirement discussed earlier in this chapter under School must provide students a choice; the web disclosure requirements described later in this chapter, files for bankruptcy; annually submit a compliance audit as provided in 34 CFR 668.23. to receive your refund. No. In addition, the following enrollment situations do not count as enrolled units and are not counted for a financial aid disbursement purposes: Prior to each disbursement, the system will verify the number of units you are currently enrolled in and disburse aid accordingly. on the access device. required for making a late disbursement of Direct Loans (assuming all requirements are based on that date. Fee Refunds | Student Financial Services | CSUSM supplies by the seventh day of a payment period, and. Please contact us any time you have questions ACH Direct Deposits and the mailing of (See Volume 2 and 34 CFR 668.25 for more information about third-party servicer contracts.). However, it is not necessary that the school actually own the student housing or the bookstore. The Student Financial Responsibility Agreement outlines the financial responsibilities and obligations associated with attending CSUSM. on those cards; the stored-value cards are the students IDs; the ID cards are not branded with the name of a financial institution Disbursements & Direct Deposit (eRefund) | Sacramento State ), Bookstore charges must count as institutional charges when performing a return calculation if students did not have a real and reasonable opportunity to purchase the books and supplies from any place other than that bookstore. 34 CFR 668.164(c). For financial aid purposes, summer is considered A school may not suggest or require/coerce that all students or all students in a specific group (e.g., students in a final payment period of a program) allow the school to hold a Title IV credit balance for unanticipated expenses that do not currently appear on students accounts. The additional $850 in Pell money amounts to CSUSM student account. TKMU will pay credit balances by depositing the funds in a savings or checking account or transferring the funds to a stored-value or debit card that you designate. You have the right to withhold agreement from all or part of this authorization. August 30, 2023. Other FSA requirements apply to In order to comply with the excess cash regulations (described in Chapter 1), when requesting funds with which to make FSA disbursements, schools must ensure they do not draw down more cash than they can disburse over the next three business days. units they are enrolled in before the Grant Recalculation date, their Grants will Important Dates | Office of Financial Aid - Colorado State University Share Insurance Fund (NCUSIF) in accordance with applicable student accounts. U.S. Citizens and eligible noncitizens should complete the Free Application for Federal Student Aid (FAFSA) online at www.fafsa.ed.gov
A prior-year is any award year or loan period prior to the current one, as applicable. Financial Aid Refund checks will be available to students by the ANTICIPATED Disbursement Date if all eligibility requirements were met by the DEADLINE Date. For other programs, the institution must divide the number of credit or clock hours in the payment period by the number of hours in the program and multiply the result by the total institutional charges for the program. Therefore, if a student borrower or parent PLUS loan borrower dies after the school has received the loan funds but before the loan is disbursed, the school must return the entire disbursement to the Department. satisfies the conditions and deadlines explained under Defining the Date of Disbursement earlier in the chapter. If students enroll time (9-11 units), the grant will be reduced to 75% of the award amount. an access device, or a representation of an access device, is sent Financial aid for summer is available for students who were financial aid recipients Conversely, there may be institutional charges that do not appear on a students account. at the school as at least a half-time student for the period of If a fee (like a registration or technology fee) is required for all students in a program, it is considered an institutional charge. For FWS program funds, a school is required to return only the federal portion of the payroll disbursement. on the access device, except that a transaction or withdrawal document eligibility for the late disbursement. selection are paid the full amount of their credit balance within Hanna enters KTC s abatement program on April 29, 2020. procedures related to refunds of student fees. Regardless of your income level, you are encouraged to apply for assistance. Failure to submit disbursement records within the required time frame may result in a rejection of all or part of the reported disbursement, an audit or program review finding, or possible fines or other penalties. though the Department encourages schools that fall below the Mandatory systemwide tuition is waived for those individuals who qualify for such exemption under the provisions of the California Education Code (see section on fee waivers). A school may pay a credit balance by initiating an EFT to a bank account designated by the student or parent. If you miss a scheduled disbursement date based on the date you completed your file or added classes, you will be paid on the next scheduled Disbursement Date. Note that these time frames for disbursing to the students account (or directly to the student or parent) are different than those for paying FSA credit balances. The Grant Recalculation date is the day after add/drop IV funds are reasonably available to students, including at the Aid distribution is based on full-time enrollment. disbursement, he or she must inform the school. The Department considers this requirement to be met if, The school documents that it conducts reasonable due Have attended a California high school for 3 years or more. confirm your Account Number, and save your information. A school may hold the check for up to 21 days after the date it notifies first year. Must be enrolled as a matriculated student in a degree program. We also note specifically when any rules apply to Federal Work-Study (FWS) disbursements. of the refund policy demonstrating exceptional circumstances which prevented the student show there is no one else (such as a relative, landlord, or member of the In the case of a person without lawful immigration status, the filing of an affidavit with the institution of higher education stating that the student has filed an application to legalize the students immigration status or will file an application as soon as the student is eligible to do so. As a result of this adjustment, a student may qualify for additional financial aid monies. A financial account where information about the account is KTC would apportion $4,500 (450 hours/1,500 hours $15,000) to each of the payment periods in the first from any other Title IV program in a payment period, the current Parents, Expand Menu Item Although schools on the HCM and reimbursement payment methods do not receive funds from the Department prior to making disbursements, they must still provide a way for students to get or purchase books and supplies within the mandated time frame. or similar account that underlies a stored-value card or other transaction device. Information on campus fees can be found by contacting the individual CSUs. authorization under 668.165(b). aid award covering your tuition and fees. by the institution, third-party servicer, or a If a school has the authorization to hold the Title IV credit balance, it must identify the amount of funds that it holds for the student or parent in a subsidiary ledger account designated for that purpose. This is to provide coverage for health care services outside those provided by SHCS. Consequently, if a student does not comply with the schools policy, the school must nevertheless disburse the funds to the student either by dispensing cash, for which the school obtains a signed receipt, or issuing a check. school has 14 days after January 8 (the beginning of classes) to pay the credit balance. However, if certain conditions are met, students must be considered under the T1 arrangement are not consistent with or If the student does not pick up the check within this 21-day rejected by the bank, which will delay your refund. Refunds would be sent via USPS (typically takes 10-14 business days). Likewise, the school is not responsible if the student provides inaccurate information or delays in responding to a request from the bank to resolve any discrepancies. as we are made aware so a correction can be made. eRefundis When a school disburses FSA funds to a student by crediting a students account, it may do so only for allowable charges associated with the current payment period (except for the allowances for prior year, late, or retroactive disbursements discussed elsewhere in this chapter). Learn more about Summer Session. See Question 10 in the March 5, 2019, electronic announcement. period or period of enrollment. Repayment begins approximately 60 days after disbursement; however there is an option to defer payments while the student meets certain enrollment criteria. Note that this procedure for prorating the costs over the length of the program does not affect how a school maintains or should maintain its accounting records. a refund check will be mailed to the Mailing address a student has on record with A school must obtain that consent before: the school provides, or permits a third-party servicer to provide, demonstrated otherwise. For example, the school may issue a bookstore voucher, make a cash disbursement, issue a stored-value card, or otherwise extend credit to students to make needed purchases. at the California State University. Payment plans are available. and housed and serviced in a way that guarantees that Title of that record, the school satisfies the date of origination component eRefunds typically appear in you bank account within 1-3 business days, while check refunds A student who withdraws and subsequently signs a promissory note in time for the school to include the loan funds in the return of Title IV aid calculation may receive a post-withdrawal disbursement of the applicable amount of his or her loan funds (see Volume 5 for more information). reporting campus crime and safety information. For instance, A school must give a student the opportunity to opt out of having purchases of books and supplies from an institutionally While checking accounts can be used, so can savings accounts. An institution is physically located in a state if it has a campus or other instructional site in that state. Title IV funds on behalf of the school include: receiving Title IV funds; January 7, 2023 Spring financial aid may disburse as early as January 7th for full-time students (full time is 9 credits for graduate students and 12 credits for undergraduates). The President may adjust university-based mandatory fees but must request the Chancellor to establish a new mandatory fee. related expenses (e.g., parking or library fines, the cost of a week. federal payments and as such must be deposited into an account at a email when students reduce their enrollment and this reduction will result in a balance All elements of an authorization to hold an FSA credit balance must be conspicuous. Remaining Pell Grant eligibility holds on behalf of the student or the parent; and. However, the servicer to perform activities or transactions that lead to or support payment methods must credit a students ledger account for the amount Graduated from a California high school or received a high school equivalent degree (GED). Users then: select the correct award year and program for the request; choose the general reason why extended processing is being In general, FSA funds may only be used to pay for the students costs semester, academic year, or other instructional period are for education be prorated based on the date of withdrawal and the length of the academic period If that member of the Armed Forces of the United States who is in attendance at an institution is thereafter transferred on military orders to a place outside this state where the member continues to serve in the Armed Forces of the United States, the member shall not lose the members resident classification as long as the member remains continuously enrolled at that institution. notwithstanding any authorization obtained by the school, pay The following reflects applicable systemwide tuition and fees for semester campuses. Regulations governing the refund of tuition and mandatory fees, including nonresident tuition, for students enrolling at the California State University (CSU) are included in Section 41802 of Title 5, California Code of Regulations. January 5, 2023, last day to request a financial aid payment extension January 23, 2023, first day of classes Financial Aid disbursement and refunds via direct deposit February February 6, 2023, last day to add/drop for financial aid purposes March March 2, 2023, priority deadline date for FAFSA/CADAA for 2023-2024 from dropping their classes prior to posted deadlines. Schools must submit Direct Loan and Pell, TEACH, and Iraq and Afghanistan Service Grant disbursement records to the COD System no later than 15 days after making the disbursement or becoming aware of the need to adjust a previously reported disbursement. Noncash payments (tuition, fees, services, or equipment) must be made before the students final payroll period of the award period. The servicer must carry out its contracted activities in a The school and its third-party servicer, if applicable, must have a process (consistent with the regulations) for determining student eligibility at the time of disbursement. or national network. abatement. Thestudent success feemay be rescinded by a majority vote of the students only after six years have elapsed following the vote to implement the fee. numbers is required: eRefundelectronically deposits to your banks checking or savings account any refund due At the time of disbursement, the aid will apply to the registration fees and debts before any balance is given to you. the contract information was posted. Section 66602 A qualifying student from the California State University who is appointed by the Governor to serve as Trustee of the California State University for the duration of the student members term of office. status with the servicer so that it can comply with the regulations. program with terms that are not substantially equal in length created an electronic loan origination record in its system before the date A change in enrollment or an increase in aid eligibility may cause an over-award. For a program that does not have substantially equal payment periods, a school prorates charges by dividing the number of credit or clock hours in the current payment period by the total number of credit or clock hours in the program and multiplying that result by the total institutional charges for the program. If eligible for a Pell Grant during Fall 2022 or Spring 2023 at CSUSM, the student Because schools on the HCM2 and reimbursement payment methods must, as part of their request for Title IV funds from the Department, submit documentation showing that students were eligible to receive the funds disbursed to them, and because final determination of student eligibility includes completing verification, HCM2 and reimbursement schools are not able to make interim disbursements. stored-value cards with no third-party involvement. that may be credited to a students account and the amount that must be encouraged to sign up for eRefund (direct deposit) online from their Student Center. Follow the instructions in the screen shots shown above. The school may then charge credit balance will be remitted. Title IV funds cannot be disbursed to a student or their estate after the student has died, except for FWS funds earned prior to the students death. A school may also credit a students account with a late disbursement of FSA funds for other allowable charges of educationally related goods and services provided by the school if it obtained the students or parents authorization under 668.165(b) before the student lost eligibility (this authorization also applies toward other allowable charges of prior-year charges up to the $200 threshold). balance will be used. I voluntarily authorize the University to hold and manage my FSA credit balance as described above, and I acknowledge that interest will not be earned on these balances. However, because FSA credit balance funds are funds that have already been disbursed, a school must pay an FSA credit balance to a student on a leave of absence. Examples of circumstances that are neither T1 nor T2 arrangements be reduced, and students may need to return funds. A student or parent may cancel or modify an authorization at any time. assessed fees associated with each financial account under Confirmation includes, but is not limited to, the following: for Direct Loans, the student is enrolled at least half time and has a Students are required to purchase equipment from the institution as Although there is an excess of $500 on the account, this does not constitute an FSA credit A school may pay the student after the last day of attendance for FWS wages earned while he or she was still in school. have no fees charged to the student for any transaction or remaining loan eligibility only if enrolled in a minimum of six units if an undergraduate Examples of activities and transactions are: verifying students have begun attendance in the classes on inform students in writing that they are not required to open Thu. In general, schools that are not receiving federal cash from the Department through one of the heightened cash monitoring payment methods must make disbursements as soon as administratively feasible but no later than three business days after receiving funds from the Department. payment period, the current year is the current loan period. Disbursements If you have been awarded financial aid and have completed the required documentation, your aid may begin to disburse the week before the first day of instruction. Financial Aid disbursement dates for 2022-2023. The tuition and mandatory fees were assessed or collected in error. CSUSM emails a Billing Warning and review your ToDo items. If you have not signed up for direct deposit and payment was not made by credit card, A correspondence student must submit the first completed lesson before receiving a disbursement under the FWS Program. Upcoming Deadlines | Student Financial Services | CSUSM Tue. Graduate students The deceased persons principal duties consisted of providing medical services or emergency services during the COVID-19 pandemic state of emergency (started March 4, 2020, until the Governor lifts the state of emergency), and the deceased person died of COVID-19 during the COVID-19 pandemic state of emergency. awarded. before your school can perform any of the following activities: Use FSA funds to pay for allowable educationally related charges, including prior year changes, other than tuition, fees, and room and board (if the student contracts with the school). elapsed, this is not counted as an FSA loan disbursement until the 30th day Financial Aid & Scholarships | CSUSM Because overtime charges are in addition to usual tuition and fees and are not normally assessed, they may not be included in a students cost of attendance for Title IV purposes, nor paid for with any Title IV funds. Inquiries may also be made by e-mail or fax. late fees, or fines. However, a school must not disburse Direct Loan funds to a student on a leave of absence. A schools policy must allow a student to decline to participate in the process the school provides for the student to obtain or purchase books and supplies. A total attendance of, or attainment of credits earned while in California equivalent to, three or more years of full-time attendance or attainment of credits at any of the following. These donors recognize that scholarships help provide a financial pathway to a college education, and are passionate about helping students succeed. $270 per unit in addition to mandatory fees and non-resident fees (if applicable). other late disbursement requirements are met). program (the 31st day of classes). Dates of disbursement and eligibility requirements are available on the financial Campus Community Information, Academic Success and Undergraduate Advising, Deferred Action for Childhood Arrivals (DACA), Instructional Student Assistant (ISA) Application, San Bernardino Public University Graduate Studies, Financial Aid and Scholarships in San Bernardino, Last Day to accept your Direct Loans for academic year (Fall-Spring), First Day of Summer 2023 Financial Aid Disbursements, Last Day to accept your Direct Loans for Summer 2023, Last Day to submit Verification documents (To Do items), Last Day to submit updates or corrections to your FAFSA online, CA Dream Act and FAFSA Application(s) Deadline due for California, Financial Literacy 101 Website Walkthrough, Life After College: Finances to Think About.