If you have been asked to provide documents or information or have been told that the Financial Aid Office is reviewing your eligibility, follow up with them as soon as possible. You can tell what aid is available to you, what has been disbursed and whether or not there are any holds on your aid by using the Financial Aid Status Service in MyUW under Student Finances.
Generally, if you live in UW Housing, there are some HFS charges added to your University student account at the start of each quarter. Your financial aid will pay these initial charges, but that may not be all that you owe to HFS. Before spending any aid sent to your bank account through direct deposit, check the HFS website to determine the balance you owe them. You can also view the amount of the aid that applied to your housing charges on MyUW.
If you are enrolled in Professional and Continuing Education PCE courses, you are generally billed through a separate system. Your financial aid will pay any PCE charges before any remaining aid is sent direct deposit. You must be registered for a full-time credit load 12 credits for undergraduates and professional students; 10 credits for graduate students in order for aid, except Stafford and PLUS Loans, to be disbursed.
If you have been awarded aid as a less than full-time student see the Financial Aid Office for minimum credit load information. After the start of classes, if you drop below full-time enrollment, aid already disbursed to pay charges on your account will not be canceled; however, no additional aid will be disbursed to you.
If you drop below full-time before the start of classes and aid has been disbursed to you, you will owe a repayment of aid. Generally students who borrowed through the Federal Direct Stafford Loan Program last year and signed a promissory note will not be required to sign a new promissory note for a Federal Direct Stafford or Unsubsidized Stafford Loan this year. You are required to sign your promissory notes even if you expect your entire loan to be used to pay charges on your University account.
If you borrowed a GPLUS in the previous year usually you do not have to sign a master promissory note again. If your loan is approved, funds will disburse to your student account. If your credit is denied and you obtain an endorser for your loan, you will need to sign a master promissory note for each GPLUS loan that is endorsed.
As part of the application process, a credit check will be completed. If their credit is denied, endorser options will be presented to them. For more information on the Parent Loan process please see our website at Parent Loans. When completing the application, parent borrowers indicate whether any remaining loan proceeds should disburse directly to the student or to the parent.
Loan proceeds disbursed to the parent borrower are sent automatically via paper check from Student Fiscal Services. Your loan cannot be disbursed until the funds have been received from the lender. You can confirm that the aid has arrived by reviewing MyUW approximately a week before the beginning of the quarter. If your lender sends you notification that your loan has been approved and the disbursement is being processed, you should expect to wait about two weeks for it to be available to you.
If your lender disburses your loan by check, you may need to endorse the loan check in Student Fiscal Services. Financial aid funds cannot pay this late fee and a separate payment is required. If you withdraw before the start of classes, you must repay any financial aid you have received. If you withdraw during the quarter, you may have to repay some of your aid. If you do not officially withdraw but fail to pass any classes, you will be considered to have unofficially withdrawn and may have to repay aid.
You will receive loan funds in two disbursements each semester. First disbursement will occur approximately 30 days after the beginning of the semester. If tuition, fees and bookstore charges are greater than the first disbursement, the student will not receive a refund until the second disbursement of financial aid is received. Second disbursement of loans will be made after the mid-point of the semester.
Because all financial aid funds will not be released until several weeks into the semester, you will need to plan ahead for non-educational expenses such as rent, transportation and child care. You must be attending classes and continue to meet all eligibility requirements to receive a disbursement. Important Note: Any withdrawals or late starting classes may delay refunds.
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