Disbursement Process
Disbursement refers to the process of applying Title IV (grants, loans, and work-study programs) directly to the student account at the institution to cover institutional charges such as tuition, fees, and other authorized expenses. A Title IV disbursement is made once per payment period. The payment period is the academic term for a student enrolled in a credit-hour program. Financial aid disbursement begins the third week of the semester and continues each week thereafter. During the first week of classes, students must confirm academic engagement in each course. This is done by either the student completing an academic activity established by the faculty member or by the faculty physically taking attendance. Also, before disbursing FSA funds, the school determines and documents that the student is eligible to receive the type and amount of FSA funds it expects to disburse.
Disbursement Requirements:
- Before any Title IV aid can be disbursed, FNU must confirm that the student:
- Has a valid Institutional Student Information Record (ISIR) on file
- Is enrolled in an eligible program and registered for the required number of credits
- Has begun participation in the classes on which their Title IV aid was based
- Meets Satisfactory Academic Progress (SAP)
- Has no unresolved conflicting information or verification
- Has completed required documents, including a valid Master Promissory Note (MPN) for loans and entrance Counseling for first-time borrowers
- For a student eligible for a Pell Grant, the scheduled disbursement will not cause the student to exceed their lifetime eligibility.
Once funds are disbursed to the Office of Student Account, the disbursement record is posted to the student’s ledger. Students can view each disbursement's information by logging into “My FNU” portal under "My Account". Charges appearing on the student's account will be deducted at that time. Any remaining financial aid will be processed as a refund with the exception of any Federal Direct PLUS Loan for Parents, which will be disbursed to the parent at their mailing address. If charges remain on the account after disbursements, or if subsequent charges are made to the student's account, it is the student's responsibility to ensure they are paid.