Disbursements

Questions Concerning Disbursements
Occasionally, you will have questions relating to your financial aid disbursements. The following is a guide to assist you in determining which Office to contact:

• The date your financial aid disbursements will be/were released to the Bursar's Office.
• Why your financial aid has been reduced/canceled.
• Why you must return funds already disbursed to you.

The Bursar's Office when you want to know:

• When your check will be mailed.
• What charges were paid with your financial funds.

Disbursement Procedures:
Financial aid funds are disbursed by the Bursar's Office. If you are in compliance with award conditions, the Financial Aid Office will release your financial aid funds to the Bursar's Office immediately following the add/drop date of each semester and weekly thereafter. Tuition and fees, housing charges, and other allowable charges will be deducted from your scheduled financial aid including Stafford Loan funds. A check for any remaining award funds will be mailed to you, to the address on file with the Registrars Office. If your Stafford Loan is paid via check from your lender, you are responsible for paying all applicable charges. It is recommended that you set aside sufficient funds at the beginning of each term to cover expenses such as books, room, meals, etc. while financial aid disbursements are processed.

If you received student loans, use the NationalStudent Loan DataBase (NSLDS) to check on your existing loan information.

Stafford & PLUS Loan Disbursement Requirements:
The U.S. Department of Education has specific disbursement requirements applicable to the Stafford (Subsidized and Unsubsidized) and PLUS loans. If you are receiving assistance from one of these programs, please read the following information carefully to determine if one of the following conditions apply to you:

• At the time of disbursement, you must be enrolled and attending at least half time to receive a Stafford or PLUS check. If your enrollment has dropped below half time after the first week of classes and before the disbursement of the loan proceeds, the funds will be returned to the lender. Any future disbursement(s) for the same loan period will be canceled. You will still be responsible for all University charges that have not been paid.


• The university can hold Stafford loan funds for up to 13 days while waiting for you to meet all eligibility requirements. It is to your advantage to fulfill all requirements as soon as possible to ensure funds are not returned to the lender.


• If you are a graduate student, you must be enrolled in at least six graduate level credits to be eligible for a graduate level loan amount.


• PLUS (Parent Loan for Undergraduate Student) checks are made co-payable to your parent and the University. The Bursar's Office will mail the check to your parent with the instructions for endorsing and returning it to the University. When the Bursar receives the endorsed check, all allowable university charges will be deducted and a check for the difference (if any) will be sent to your parent.

Federal PLUS for Grad + Professional Students
The Federal PLUS Loan for graduate and professional students is a loan in addition to the Federal Stafford Loans students apply for. It does not reduce the eligibility for the Federal Stafford Loan. The amount borrowed by the applicant is limited to the cost of attendance minus other financial aid including Federal Stafford Loans.

Borrowers must have applied for their annual loan maximum eligibility under the Federal Subsidized and Unsubsidized Stafford Loan Program before applying for a Federal PLUS Loan for graduate and professional students.

• Borrower must complete the FAFSA.
• Graduate student must be enrolled at least half-time and meet satisfactory academic progress requirements Refer to our website under Terms and Conditions: www.finaid.fiu.edu
• Borrower must be a U.S. citizen, U.S. national, or permanents resident.
• Borrower must first apply for annual loan maximum eligibility under the Federal Stafford Loan program
• Borrower must meet credit requirements