Disbursement of Financial Aid (Policy FA-2)

Policy:

Students must have a complete financial aid file before any financial aid can be disbursed.

Procedure:

Financial aid is disbursed to the student’s Clarkson College account at the beginning of each semester or as soon as funds are available. Students must meet all eligibility requirements for each award before funds can be disbursed.  

Federal student loans, grants, and non-federal financial aid funds received by Electronic Funds Transfer (EFT) or paper check will be applied to the student’s account within 14 days of receipt of the funds. Federal funds can be applied to a student’s account up to 10 days prior to classes starting. Financial aid will be applied to tuition, fees, on-campus housing charges (if applicable), and bookstore charges (if applicable) before funds are released to the student for other educational expenses.  

If the financial aid received exceeds the semester charges, the student will receive a refund. If a balance remains after financial aid is received, the student must pay the outstanding balance by the tuition payment due date.