How is financial aid disbursed?
A. Financial aid is disbursed by semester. Half of your financial aid will disburse at the beginning of fall semester and the other half spring semester. St. Olaf grants and scholarships automatically disburse before the bill is sent in July, as long as you have completed and returned the necessary verification and tax forms found in your black financial aid folder. Federal and state grants disburse at the start of each semester, if your award has been finalized. All loans, federal or private (e.g. Stafford, Perkins, SELF, PLUS), will disburse at the beginning of each semester if you have completed the appropriate loan applications and the loan has been approved by the lender.
Once you complete all of the steps required to receive federal aid, your Stafford loan will be disbursed to our office on your pre-determined disbursement date. It will take our office approximately 3 days to complete the required processes necessary prior to applying the funds to your student account. All other financial aid will also be applied directly to your student account on or around your disbursement date. Depending on your program of study, your financial aid will be disbursed either once per semester or over the course of the semester.
For students who register through Gator Registration and meet all disbursement requirements, their financial aid disbursement will occur one week prior to the first day of classes. Otherwise, remaining financial aid checks are disbursed twice weekly throughout the semester, approximately 5 to 10 days after all requirements are met. At the time of disbursement, the Bursar’s Office will deduct any obligations owed to the University for fees, tuition, housing, short-term loans, or other charges before any balance is sent to the student. Balance funds can be electronically deposited into your personal bank account; otherwise the Accounting office will mail a balance check to you at your address on file with the Registrar’s Office. Direct deposit is a safer way to receive your balance funds. Sign up at https://faweb.sfsu.
All financial aid proceeds, including student loans, will be credited directly to your student account. The awards will be used to pay all outstanding bills owed to the college for the semester, based on prior approval. If you have a credit balance after all outstanding obligations have been met, you will be issued a refund check. The amount of financial aid that you are eligible for is determined by your enrollment at the end of the third week of classes. Students will not receive financial aid for classes that are dropped during the refund period. Refund checks will not be available until after that time.
