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Financial aid help??????????
My award letter said i was rewarded $2700. I just received $693 into my Higherone account as a refund. The school told me that this is my 1st disbursement..meaning my first payout. So does this mean i will get the rest of the money later or is the $693 all that's left?
3 Answers
- AcheliosLv 79 years agoFavorite Answer
you award letter said $2700
you did not mention if that was $2700 annual or $2700 per semester for Fall & Spring
how much are your tuition & fees? these will be taken out of that money
and, if you charged your books to your fin aid, then the cost of the books will be taken out as well
my guess is that you got $2700 for the semester
and that the total for your tuition, fees & possible books was $2007
giving you the remainder of $693
if my guess is correct, then this is all you will receive this semester unless something else was listed on that award letter that you have not mentioned
your next disbursement would be next semester.. and it will depend on the number of credit hours you take, the amount of your tuition, fees & possibly books
to give you an example, my bf's Fin Aid Award shows he gets $2750 for Fall & $2750 in Spring for his Pell Grant
last spring, he took 12 credit hours (full-time student, so no reduction in Pell Grant amount)
his tuition and fees came to $1950
we rented books from Chegg.com (paid out-of-pocket for books to save over $150)
if he had used his Fin Aid to pay for books, then it would have to be taken into account
his Fin Aid disbursement was $750
he does not use student loans, so he did not get any additional money
- 9 years ago
The federal government requires that disbursements be split evenly over the course of the semester. This may be two, three, or even four disbursements depending on how the school has arranged it to accept your aid. If you have more specific questions as it relates to the disbursement schedule and payouts, contact your lender directly as your financial aid office may not have the information as readily available.
Source(s): 2+ years working for Sallie Mae, a lender, in the financial aid processing department. - 9 years ago
It could be that they split the fall semester disbursement so you might want to call and ask.
Source(s): I'm getting 1238 in September and the other half in November for fall.