How does Cal Poly receive my financial aid and apply it to fees?
Cal Poly uses Electronic Fund Transfer (EFT) for importing from lenders most all loan funds…Stafford, PLUS, and alternative. This enables loan money to be transferred electronically right into the student’s Cal Poly account, along with grants and in-house scholarships. The system then uses the financial aid funds on the student account to pay charges, such as registration, housing, and course fees. Whatever amount remains is then disbursed to the student either in a by Direct Deposit or check. Each time a disbursement occurs, an email is sent out, alerting the student of this activity and referring him/her to the Student Account & Payment Info channel accessed through the Money Matters tab (on my.calpoly) to view the amount of the disbursement and the type(s) of financial aid which created it.
