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What is the difference between the Financial Aid Office and Bursars Office?

April 26, 2017Bursar financial aid Office

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What is the difference between the Financial Aid Office and Bursars Office?

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The Financial Aid Office grants awards and approves loans based on the eligibility of the student. They determine the type and amount of each award or loan which is contained in the official award letter sent to students. The Financial Aid Office credits the funds to the student accounts after the borrower (student) has completed the application and endorsed the promissory note and other documents. The Loan Disbursing Department of the Bursar’s Office administers the refund when the student is properly registered for sufficient credit hours and completed all other requirements for loan eligibility.

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The Financial Aid Office determines a student’s eligibility for financial aid, makes an award and disburses the financial aid to the student’s account. The Bursar’s Office is responsible for the billing and collections of tuition and fees and processing refunds.