The school is permitted to retain any interest earned on the students Title IV credit balance funds. deadlines. pickup and provides the specific location. credit balance will be remitted. California Dream Act-eligible students, should complete the Dream Act application online at www.csac.ca.gov/ In most cases, the total charges a school assesses the student in a An authorization must clearly explain how the school will carry out an activity, but it does not need to detail every aspect pertaining to the activity. if the school does NOT obtain affirmative confirmation, no conditions associated with each account are provided; may provide, for the benefit of the student, information about available financial accounts (other than those provided in Tier 1 and Tier 2 arrangements) that are checking, savings, or similar accounts insured by the Federal Deposit Insurance Corporation (FDIC) accounts or National Credit Union Share Insurance Fund (NCUSIF). A school must make any post-withdrawal disbursement required by the provisions of 34 CFR 668.22. credit card used. functions associated with processing direct payments of Title IV funds phone numbers to ensure CSUSM can get your refund check delivered to a current address If funds remain from a late disbursement after the outstanding charges on the students account have been satisfied, the school must pay the funds directly to the student within 14 days. threshold to comply voluntarily with those requirements; ensuring the terms of all accounts offered under a T2 the contract information was posted. If a student or parent cancels an authorization to hold excess Title IV funds, the funds must be paid directly to the student or parent as soon as possible but no later than 14 days after the school receives the notice. students account with Title IV, HEA funds to pay for housing and for Schools should always use G5 to return Title IV funds. for a disbursement after the date they became ineligible. requested from the reason code dropdown menu; provide an explanation for the request; and. Where do I find the routing and account information for my checking account? student under the return of Title IV funds rules. Students should then log in toMyCSUSMto review their Financial Aid Shopping Sheet for a preview of what their potential The school must include the contracted third-party housing notwithstanding any authorization obtained by the school, pay 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. A school located in a state that makes direct payments to students by EFT and that enters into an arrangement described later in this chapter under Tier One and Tier Two Arrangements must establish a **selection process* under which students choose one of several options for receiving those payments. August 17: Financial aid refunds begin. To be eligible for a disbursement of aid, you must meet all disbursement requirements. financial institution associated with the third-party All documents must be submitted within 10 days of their request to ensure timely awarding. on students account ledger, and signing the enrollment agreement features and fees associated with financial accounts under T1 regional or national network; conducting point-of-sale transactions in a state (assessed their classes on their behalf. We are available to service students in the student center in Bayramian Hall Monday-Friday from 10:00 a.m. - 2:00 p.m. Financial Aid staff are also available to answer your questions by phone at 1-818-677-4085. Aid is available based on financial need, academic merit, or both. Prospective Students, Expand Menu Item financial account. published deadlines. Disbursements of Pell Grant, Cal GrantA, CalGrant B, Middle Class International students desiring additional information should contact the Office of Admissions and Recruitment. A school may not originate a Direct Loan for a loan period in which the student is no longer enrolled on at least a half-time basis, even if the student is otherwise still enrolled at the school. to 50% of her scheduled award (see Volume 3, Chapter 3). The Federal Pell Grant is dependent on enrollment status and eligibility. conducting a balance inquiry or withdrawal of funds at an has an arrangement with a book publisher or other entity Failure to follow formal withdrawal procedures may result in the assignment of failing grades, an obligation to pay fees, and the behalf of the student, FWS funds that would otherwise be paid directly Undergraduates and Teacher Credential candidates must be enrolled Under affirmative confirmation, a school obtains written confirmation of the types and amounts of Title IV loans a student wants for the period of enrollment before the school credits the students account with those loan funds. The following guidelines demonstrate how funds are distributed based on a student's enrolled units. More information about education benefits offered by VA is available at the official U.S. government website at http://www.benefits.va.gov/gibill. 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 another source, those costs must be classified as institutional charges. Financial aid for summer is available for students who were financial aid recipients during the preceding Fall 2022 or Spring 2023 semesters. Educational Opportunity Program (EOP) Grant. Registration Fees. IV credit balance, the school must pay the balance directly to the student A charge does not have to appear on a students account to be considered an institutional charge. Title IV* funds and/or Cal Grants), are applied to a student's account for allowable institutional charges. The conditions and limitations for a post withdrawal disbursement are the same as for all other late disbursements though there are additional requirements. not include a Social Security number, in whole or in part; a password, PIN code, or other shared secret provided by the the Finances section of your Student Center. August 25 after the students have started classes, so it has 14 days after August 25 to pay the responsible for ensuring that any personally identifiable information at the school for the award year. : Please be sure to update, in your Student Center, any changes to your address or diligence reviews at least every two years to ascertain During the first four weeks of the semester, disbursements are scheduled to run twice Your school may use any type of payroll period it chooses, provided students are paid at least monthly. Consideration for summer assistance applies to regularly matriculated students (students In addition, for a Direct Loan or an award under the TEACH Grant Program, the school must have originated the loan or grant prior to the date the student became ineligible (see below). A portion of FWS funds are dedicated to community service positions. under the T1 arrangement are not consistent with or Title IV credit balances; ensure that student options for receiving direct payments are Of course, though a school must in such cases offer the disbursement, a student or parent is never required to accept it. schools name, logo, mascot, or other affiliation and is marketed To get your first financial aid refund Student body association fees support a variety of cultural and recreational programs, childcare centers, and special student support programs. Student Financial Services is keeping this page up to date with frequently asked questions during our remote operations. You have four options for making a payment: Failure to pay in full by published due dates may result in any of the following: Student Financial Services can help! Mailed refund checks typically take 5-10 business days for processing. If the student reduces the Recipients must also meet financial requirements. Title IV funds are provided to a student to pay current charges for the payment period or period of enrollment, not those that might accrue later at some undefined time. Please contact us any time you have questions use current-year funds to satisfy prior-year charges of not more than The "Remaining Balance" in your Account Summary will reveal the exact amount you are Parentthe parent borrower of a Direct PLUS Loan. and the June 16, 2017, electronic announcement, which has more Note that schools are prohibited from charging students a fee for delivering FSA funds. aid award covering your tuition and fees. [34 CFR 668.164(m)(3)], A school must include the cost of housing as an institutional charge in any return calculation required when an eligible recipient ceases to be enrolled prior to the end of the payment period or period of enrollment. It may take up to 14 days from the date CSUSM processes the refund for the credit a refund check will be mailed to the Mailing address a student has on record with At the time of disbursement, the aid will apply to the registration fees and debts before any balance is given to you. For audits and program reviews, schools must have documentation (e.g., canceled checks, bank statements) showing that students received disbursements in the amount charged to the FWS Program. The Department considers that Title IV funds are disbursed on the date that schools (a) credit those funds in their general ledger or any subledger to a students account or (b) pay those funds to a student or parent directly. Please see instructions below. disbursement, TEACH Grant, or TEACH Grant disbursement. Pay online using American Express, MasterCard, Discover, or VISA. acknowledges that they are necessary for the program. (See Volume 3, Chapter 2, for additional information.). credit balance will be remitted to you. The school must also maintain, at all times, cash in its bank account at least equal to the amount that it holds for students. 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. A school may not require or coerce the student or parent to provide an authorization, and it must clearly explain to the student or parent how to cancel or modify the authorization. account; issuing a check for that amount payable to and requiring 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. Financial Aid Disbursement Schedule 2021-2022 * Updated 05/13/2022 Eligibility requirements differ among the various financial aid programs. However, equal to the FWS funds being held for students; and. Cal Grant Community College Transfer Entitlement Awards. The timing of a loan or TEACH Grant notification varies depending on whether a school obtains affirmative confirmation from a student that he or she wants a loan or accepts the grant. that enables it to make those books or supplies available to and T2 arrangements); must provide a URL for a webpage on which the terms and Please email sfs@csusb.edu with any questions you have and we are happy to help! assessed fees associated with each financial account under A school must return A school that had at least one student with a Title IV credit balance that was not used during the preceding fall or spring terms. statements or invoices showing the estimated amount of FSA funds that students are branding that does not promote particular accounts, A lease permitting the operation of an on-campus branch or on campus Once your funds have been disbursed to your account student financial's will issue refunds either by direct deposit or check. On April 29, 2020, the school credits Hannas account with $5,300: $2,550 in 20192020 Pell Grant funds, first year. scholarships@csusm.edu. include: charges for any required course materials that a school can Tuition and Registration Fees Due - Spring Semester. For more information or questions, please contact the System Budget Office in the CSU Chancellors Office at (562) 951-4560. If a school did not make a disbursement to an enrolled student for a payment period(s) he or she completedfor example, because of an administrative delay or because the students ISIR was not available until laterit may pay the student for all prior completed periods in the current award year or loan period for which the student was eligible. The person who qualifies for this waiver must enroll as an undergraduate student at a CSU, was a resident of California during the COVID-19 pandemic state of emergency, and the annual income (including the value of parents support) does not exceed the maximum household income and asset level for an applicant for a Cal Grant A award, as set forth in Section 69432.7. Please log in to or parent, initiate an EFT to the students or parents bank account, or will access through a prepaid card must: must meet the requirements for pass-through deposit or share $200 for: tuition, fees, and room and board (provided by the school) For students to receive a late disbursement, these conditions must have been met before they lost eligibility [34 CFR 668.164(j)(2)]. The tuition and fees were assessed or collected in error; The course for which the tuition and fees were assessed or collected was canceled by the University; The University makes a delayed decision that the student was not eligible to enroll in the term for which tuition and mandatory fees were assessed and collected and the delayed decision was not due to incomplete or inaccurate information provided by the student; or. the student. Disbursements begin: one week before the start of the semester, and disburse twice a week through Census and continue weekly thereafter. Financial Aid Disbursement Dates Your school defines your payment schedule, and will disburse money based on those timelines. for loan assistance. (contact your School Participation Division). The restrictions for such an authorization are the same If your school has lost contact with a student who is due a Title IV We recommend that you set up e-Refund to avoid disbursement delays. See the The final amount will be based on the number of students eligible for the MCS statewide and the funding allocated by the State Budget. Prospective students who register for courses offered by the University are obligated for the payment of charges and fees associated with registration for those courses. payment period for which he or she received Title IV With written authorization from a student, a school may hold, on Important Dates Financial aid awards are based on the student's enrollment at the time of disbursement. not make a second disbursement of FSA funds to students who are not making satisfactory academic progress, except that students on probation or warning may receive a second disbursement if they completed the clock hours or credit hours associated with the first period. remaining loan eligibility only if enrolled in a minimum of six units if an undergraduate last payment period in the award year for which they were For a second or subsequent disbursement, students successfully completed the a Title IV credit balance. before the first day of classes of a payment period, that credit is not considered A school is not required to pay a credit balance that is less than $1.00. They should not return Direct Loan funds to EDs federal loan servicers directly. A school that does not offer or use any financial accounts under Note that the school will have to amend Part IV, Sections B-E and Part VI of the FISAP to reflect the amount being carried forward. Questions? Confirmation includes, but is not limited to, the following: for Direct Loans, the student is enrolled at least half time and has a Fri. Class Schedule Available - Summer 2023. the end of the award year for 22-23 and eligibility is based on any remaining eligibility in that program from sources other than those provided or disbursement, any grant or loan funds the students are due as a purpose; and is not shared with any other affiliate or entity except for holder of the card with all of the consumer protections, and must comply For purposes of the refund policy, mandatory fees are defined as campus-specific When a payment period is in two award years (that is, when it begins before July 1 and ends on or after July 1), the student is paid for compensation earned through June 30 with FWS funds allocated for the first award year and for compensation earned beginning July 1 with FWS funds allocated for the following award year. You will need to have your the last payment period in the award year for which the funds were awarded. A change in enrollment or an increase in aid eligibility may cause an over-award. received a refund due to overpayment may still owe a debt to the university if the https://csusm.academicworks.com/, In addition to our CSUSM General Scholarship Application, students may also apply for external scholarships offered by other community members. semester, academic year, or other instructional period are for education In the information a school provides to students when it informs them they are due a late disbursement, the school may include information about the advantages of keeping loan debt to a minimum. processed while the student was enrolled but before the student listed the However, a school may send a student an access device that is The order in which these funds were receiving an access device; or. See Chapter 4 of the Application and Verification Guide. or parent before it requests funds through G5 or the Department for both the fall and spring semesters. without obtaining the students or parents authorization; and. or obtain a financial account or access device offered by or period for which the loan was intended. No later than 60 days following the most recently completed award year, schools that offer accounts under a T1 or T2 arrangement must disclose conspicuously on their website in a format established by the Department the contract(s) establishing the arrangement except for any portions that, if disclosed, would compromise personal privacy, proprietary information technology, or the security of information technology or physical facilities. The university President may adjust the student body association fee only after the fee adjustment has been approved by a majority of students voting in a referendum established for that purpose. a week. However, a school must not disburse Direct Loan funds to a student on a leave of absence.