Financial Aid Disbursement for Summer Term
The start dates of summer term courses affect financial aid disbursement, in regard to both the timing of when you receive these funds and the amount of funds you can receive.
It is also important to know that if you are eligible for Federal Pell Grant funding, you must be registered in all your courses by the 5th day of summer term to receive those funds. Course registrations that occur after the 5th day of summer term are not counted toward Federal Pell Grant eligibility. The 5th day of the summer 2024 term is May 17, 2024.
Timing
Financial aid is processed throughout summer term. When your financial aid is ready, at least one of your courses must have already begun or must be scheduled to begin within the next 10 days in order for the University to apply federal & state aid and student loans to your account charges and issue a payment to you for the excess funds, if any. For example, if at least one of your classes begins on the first day of summer term (May 13) and your financial aid is ready to be processed, those funds will be included when the earliest process date for summer term occurs (May 18), and if the total financial aid exceeds your student account balance, the direct deposit payment to you will be scheduled to occur on the earliest disbursement date for summer term (May 24).
The following table is provided to further illustrate this concept:
| If at least one of your courses begins by: | The earliest possible date your financial aid can be applied to your account is: | The earliest possible direct deposit date for excess funds (if any) is: |
|---|---|---|
| May 13, 2024 | May 18, 2024 | May 24, 2024 |
| June 10, 2024 | June 4, 2024 | June 7, 2024 |
| July 8, 2024 | July 2, 2024 | July 5, 2024 |
Amount
Your financial aid budget, also known as Cost of Attendance, includes tuition and fees as well as amounts for textbooks and living expenses. The full length of summer term is 10 weeks. When you are enrolled in courses that span the entire length of summer term, your financial aid budget will reflect amounts that cover the full 10-week time period; enrollment in courses that span less than the full 10 weeks (short courses) will result in a review of your overall financial aid budget. This may affect the amount of aid you are eligible to receive; you will be notified if any adjustments are required.
Important note about dropping/withdrawing from courses: If you drop/withdraw/stop attending any of your courses during summer term, you may be affected by regulations that require the University to reverse/reduce all or part of your financial aid. The amount of financial aid reversed will depend on your attendance plans during the rest of the term.
If you are enrolled in any summer term courses that have not yet begun at the time you drop/withdraw/stop attending another summer term course, you must confirm your planned attendance in the future course(s). Without written confirmation from you indicating that you plan to attend a future course in the term - even if you are registered for that future short course -- the University is required to determine a financial aid reversal amount that assumes you will not be attending short courses that have not yet begun.
Therefore, it is imperative for you to complete the appropriate step to communicate your plans:
- If you still plan to attend a course you are currently registered for that has not yet begun, you must provide confirmation of your planned attendance by sending an email from your University email account to the Campus Hub at campushub@mnsu.edu. In the email, indicate your name, Tech ID or Star ID, and the name of the course(s) you will be attending that start later in the summer term. If this email is not provided to the Campus Hub prior to the first day of the future course(s), the University will assume you are not attending the future course(s) and your financial aid may be reduced.
- If you no longer plan to attend a short course that has not yet begun, drop that course through the E-services registration site. Please note that dropping a course may also affect your financial aid eligibility.
Students can receive disbursements in one of two forms:
Direct Deposit – Recommended (quickest and most secure method)
To receive disbursements as a direct deposit, provide current bank account information through e-services. The bank routing number and account number will be required. The University recommends students review direct deposit authorization routinely to ensure bank account information is current.
Check
Checks are mailed to student permanent address on file for those without a current direct deposit authorization.
