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 three (3) days of receipt of the
funds. Federal funds can be applied to a student’s account up to ten (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.

Academic Policies and Procedures