Disbursement Process

THE DISBURSEMENT PROCESS

Students receiving financial aid can expect to receive their aid in any of the following methods:

When the student accepts his/her award, the award will be credited to the student’s account to pay for educational expenses 10 days before the first day of classes.
Stafford Loan funds will be credited to the student’s account 10 days prior to the first-class day for students who have successfully completed the required counseling session and master promissory note. If a student is a first-time freshman borrower, the funds will not be received until 30 calendar days after the first-class day.
Financial aid cash disbursements: Any credit remaining in the student’s account after all tuition/fees and all educational expenses have been paid will be disbursed during the week prior to the first-class day. Direct deposit can be set up via the student’s ASSIST account so that any disbursements are deposited into the student’s bank account. If direct deposit has not been set up, any disbursements will be mailed to your mailing/billing address on the system. Changes of address can be made via your ASSIST account.

Changes in class schedule or enrollment status may cause an adjustment or cancellation of your awards, which will require you to pay a balance or return funds.

DISBURSEMENT METHODS

Disbursement Federal Direct Loans

Students who will be eligible for Federal Direct Loans (subsidized, unsubsidized loans and PLUS loans should be aware that:

First-time borrowers will not receive loan proceeds until 30 days after the start of the term.
Completion of Entrance Loan Counseling and an approved Master Promissory Note (MPN) will be required for all loan applicants before any loan funds are disbursed.
Student loans require students to be enrolled at least half-time (6 hours).
For a student enrolled in one term, student loans will be disbursed in two equal disbursements (usually at the beginning of the term and at the term mid-point).

If a student is not automatically awarded a Direct Loan, he/she may submit an additional Financial Aid Request available online.

Disbursement for Students Enrolled in the Finish at UT Program

For students enrolling in Distance Learning via Finish at UTR and who list UTRGV as their Home institution, financial aid funds will be disbursed to after the census date. Students are responsible for contacting their Host Institutions to make payment arrangements.

Disbursement for Students Enrolled in a Study Abroad Program

Enrollment in a program of study abroad approved for credit by UTRGV may be considered enrollment at UTRGV for the purpose of applying for federal student aid.

Students who apply for financial assistance for study abroad should apply in the same manner as if they were planning on being in residence at UTRGV. A study abroad student must file a FAFSA and must be participating in a program that is pre-approved to be a financial aid eligible program. This is determined by the agreements that are set up by the Office of International Programs for each specific program. Students should verify with both the Office of International Programs and the Financial Aid Office to determine if the program they are interested in is an eligible program for financial aid purposes.

To be considered for Title IV funds, the study abroad applicant is expected to meet all financial aid application priority deadlines, to adhere to other financial aid deadlines, to meet all the eligibility requirements for Title IV awards and be making Satisfactory Academic Progress and meet minimum enrollment requirements for financial aid programs.

The study abroad applicant should also note that if awarded an institutional or outside scholarship, these awards may result in a reduction or cancellation of financial aid.

Financial aid funds will be disbursed the week before the first day of the program for the respective semester. As a result, students will need to make payment arrangements with their respective study abroad programs.