A change in enrollment or an increase in aid eligibility may cause an over-award. Disbursement Information Disbursement Schedules: 2022-2023 Disbursement Schedule Financial Aid Refunds: Financial aid funds in excess of your tuition fee or other university charges will be mailed to you in the form of a check unless you enroll in Eagle Express Direct Deposit. To receive the award, students must first be enrolled. an average of 5% or more of the students enrolled at the institution had a Title IV credit balance as determined through the following formula: The average number of students with credit balances for the three most recently completed award years, The average number of students enrolled at the institution at any time during the three most recently completed award years. A school may not obtain a students power of attorney to authorize Note that the documented cost is the amount the school paid for the equipment, which may be different than what students were charged for it. cash monitoring (HCM) payment methods; or. The total CSU 2022/23 budget amounts were $4,589,590,000 from state General Fund (GF) appropriations, before a $ (68.5) million CalPERS retirement adjustment, $2,446,491,000 from gross tuition revenue, and $672,655,000 from other fee revenues for a total of $7,708,736,000. debit cards only). Financial aid awards are calculated based on the number of units per semester. The following maximum Federal Student Aid awards are available to Hanna for her program based upon within 14 days of being notified funds have been applied to your student account, or. All elements of an authorization to hold an FSA credit balance must be conspicuous. For instance, you must disburse an FSA credit the balance occurred if that was after the first day of class. The Middle Class Scholarship (MCS) can be awarded to undergraduate students and students pursuing a teaching credential. related expenses (e.g., parking or library fines, the cost of and housed and serviced in a way that guarantees that Title Students may access all of their Cal State San Marcos financial aid records at MyCSUSM. enrollment for which the loan was intended; or. E-Check payment is free! a school disburses Title IV funds to a student to buy required books, equipment, supplies, or For instance, A school must give a student the opportunity to opt out of having purchases of books and supplies from an institutionally A portion of FWS funds are dedicated to community service positions. If a student opts out, the school may, but is not required to, offer the student another way to purchase books and supplies as long as it does not otherwise delay providing any excess Title IV funds to the student within the FSA credit balance time frames. Applications submitted after March 2, may not be considered for all institutional and state aid. disbursement, TEACH Grant, or TEACH Grant disbursement. So long as there are no regulations specifically requiring that a notification or authorization be sent via U.S. mail, a school may provide notices or receive authorizations electronically. they are considered institutional charges. first day of classes of a payment period; or, if the student is enrolled in a clock-hour program, a non-term If a school delivers FSA funds to students by crediting funds to a school-issued debit or stored-value or prepaid debit cards, the school may not charge students a fee for making withdrawals of FSA funds from that card. if it obtains (or had already obtained) the students or parents Cost: $5,000 Title IV funds: Pell = $3,400, Subsidized DL = $1,600. law; and. Direct Loan funds. The Department does not permit disbursement of Title IV loan funds when there is no possibility of repayment. Funds from loans are based on full-time enrollment. owned or contracted bookstore charged to his or her account. students for informational purposes rather than being provided as Applicants should also complete the FAFSA each year as most scholarships also consider financial need in the awarding criteria. Note that the school will have to amend Part IV, Sections B-E and Part VI of the FISAP to reflect the amount being carried forward. for degree credit. The waiver of mandatory systemwide tuition and fees under this section applies only to a person who is determined to be a resident of California pursuant to Chapter 1 (commencing with Section 68000) of Part 41 of the California Education Code. Disbursement Process Disbursement of Funds When a student accepts his or her financial aid disbursement (payment), he or she is agreeing to the Terms and Conditions of his or her financial aid award. credit card used. The graduate business professional fee is paid on a per-unit basis in addition to the basic tuition and campus fees for the following graduate business program: Master of Business Administration (M.B.A.). charges to a students account for discretionary, educationally of business, or files for bankruptcy. If eligible for a Pell Grant during Fall 2022 or Spring 2023 at CSUSM, the student Once your funds have been disbursed to your account student financial's will issue refunds either by direct deposit or check. the school notifies the student or parent. amount of any credit balance due under 34 CFR 668.164(h) before the Last Day to submit Verification documents ("To Do" items) September 8, 2023. ETI credits $2,000 than 14 days after the first day of class, and you must notify a student of a loan disbursement, any grant or loan funds the students are due as a clergy) who could act on behalf of the student with the power of attorney. **Total does not include non-resident tuition or Graduate Professional Fee. transfers without charge, during the students entire period of some schools charge a student up front for the total cost of a multiyear The California Education Code provides for the following nonresident tuition exemptions as summarized below: Section 68075 - A student who is a member of the Armed Forces of the United States stationed in this state, except a member of the Armed Forces assigned for educational purposes to a state-supported institution of higher education, is entitled to resident classification only for the purpose of determining the amount of tuition and fees. In addition, the Scholarship Office is available to answer your scholarship questions by phone at 1-818-677-4907. the documented cost of returnable equipment not returned in good condition within 20 days of withdrawal. So long as a school cannot recall or receive a payment from a student or parent account, the Department considers the electronic transfer of funds to a bank account that a servicer opens on behalf of a student to be the equivalent of a schools transfer of funds to a students account and the equivalent of making a direct payment to a student. Information on procedures and deadlines for canceling registration and dropping classes is available in the Schedule of Classes. assessed fees associated with each financial account under How will I receive a student refund if I paid with a credit card? A Tier 2 arrangement is one where a school contracts with a financial institution or other entity to offer financial accounts that are marketed directly to students. A school must be able to earned by the university. San Bernardino, CA 92407 In this case the school needs to obtain a copy of the earlier SAR/ISIR to A school may not reduce or eliminate a students eligibility for a Title IV credit balance by front-loading or apportioning institutional charges that the school cannot document are attributable to that payment period. For additional information on returning loan funds, see Chapters 3 and 4 in this volume and Volume 5 (for the return of loan funds when a student withdraws). of the 2nd session. than initiating an EFT to accounts provided under Tier 1 Petitions for refunds outside the scope of published policy are approved only when applicants can demonstrate exceptional circumstances, and the chief financial officer or designee determines that the fees and tuition were not earned by the University. by the parent. account with $2,500 in FSA funds: $1,700 in 20202021 Pell funds (the first payment period this year Please email sfs@csusb.edu with any questions you have and we are happy to help! enrolled in less than 6.1 units at the end of the add/drop period would have a change A school that includes the costs of books and supplies in the tuition charged and provides all of those materials to the student at the start of his or her classes meets the requirements of these regulations. Center. Must be enrolled as a matriculated student in a degree program. Any credits remaining after all tuition and fees are paid are then refunded to students. This is to provide coverage for health care services outside those provided by SHCS. Conversely, there may be institutional charges that do not appear on a students account. into the financial accounts of those students. All unclaimed credit balances must be returnedthere is no de minimis amount. Under affirmative confirmation, a school obtains written confirmation of the types and amounts of Title IV loans a student wants for the period of enrollment before the school credits the students account with those loan funds. Important:A financial aid student who drops all classes prior to the start of the term but already However, you may not count forgiveness of a charge, such as an FWS students parking fine or library fine, as part of the noncash contribution to the student. $200 for: tuition, fees, and room and board (provided by the school) Astudent success feemay be established or adjusted only after the university undertakes a rigorous consultation process and a fee referendum is held with a simple majority favorable vote (Education Code, Section 89712). in a minimum of six units to be considered for any loan funds. The Bursar's Office will apply the aid disbursements to expenses assessed for enrollment and other items purchased through the university. for a disbursement after the date they became ineligible. As mentioned earlier, for a program with substantially equal payment periods, a school prorates the charges associated with a current payment period by dividing the total institutional charges for the program by the number of payment periods in the program. valid, linked MPN; for a student otherwise eligible for a Pell Grant, the scheduled disbursement will not cause the student to exceed his or her lifetime eligibility (see Volume 3); a student enrolled in a non-term program or nonstandard term The school must include the contracted third-party housing payment period, the current year is the current loan period. Thu. In cases where the school does not make another attempt, the funds must be returned to the Department before the end of this 45-day period. Upon signing up foreRefund, it will continue to be active until you cancel. designated subsidiary ledger account; maintain cash in its bank account that is always at a minimum Parents, Expand Menu Item If a borrower asks the school to do this, the school should direct him or her to the appropriate servicer for guidance on how he or she can return the money. selected payment options, as long as students provide the If funds remain from a late disbursement after the outstanding charges on the students account have been satisfied, the school must pay the funds directly to the student within 14 days. school before receiving the credit balance, a school might find that it is holding Title IV funds that belong to a balance to a student no later than 14 days after the date it was created or no later times the school or its third-party servicer makes direct payments When evaluating whether prior-year charges exist in a payment period, the school must use the following definitions for the current year: For a student or parent who receives only a Direct Loan in a For purposes of the refund policy, mandatory fees are defined as those systemwide and campus fees that are required to be paid in order to enroll in state-supported academic programs at the CSU, available at www.csusm.edu/sfs. The course for which the tuition and mandatory fees were assessed or collected was for both the fall and spring semesters. If, in this example, ETI credited $600 of Pell Grant funds, rather than $500, an FSA credit Electronic checks have no convenience fee. The school is permitted to retain any interest earned on the students Title IV credit balance funds. 1 If your school simply makes a memo entry for billing purposes or credits a students Application Period: (October 1st February 1st) Note: User fees are subject to change pending approval in accordance with university procedures. at the school as at least a half-time student for the period of Prospective students who register for courses offered by the University are obligated for the payment of charges and fees associated with registration for those courses. balance will be used. a reduction in the amount of nonresident tuition due. typically by the end of the following weekafter funds are creditedto the student's apply, the sooner we can get your estimate aid awardto you! termination of the arrangement by the school based specified in and in accordance with the applicable program regulations; refer any reasonable suspicion of fraud or criminal conduct in the Title IV programs manner keeping with a fiduciary under the Title IV, HEA programs. 10 . Moreover, a charge does not have to A school must also include, for any year in which its enrolled students open 30 or more financial accounts under the T1 or T2 arrangement, the number of students who had financial accounts under the contract at any time during the year, and the mean and median of the actual costs incurred by those account holders. The refund may be applied Bank's routing and account numbers ready. Additional documents may be requested to confirm the information on the application. Through this document, you will tell Triskaideka Marley University (TKMU/the University) how you would like the school to manage the FSA credit balance on your student account. See Question 10 in the March 5, 2019, electronic announcement. If you paid your balance with a credit card, your refund would be returned to the to be used for that purpose. FWS payroll period for the award period. August 17: Financial aid refunds begin. the books and supplies required for the payment period if: ten days before the beginning of the payment period, the based on complaints from students or a determination conditions, if applicable. schools determination that the student withdrew, or, for a student who did not withdraw, 180 Schools that participate in T1 arrangements must ensure that students actively consent to participate in any account offered under that T1 arrangement and that, in obtaining students consent, schools must satisfy the standards presented earlier in this chapter under Schools must provide students a choice, such as informing students of the terms and conditions of each financial account offered. However, To be considered for financial aid, students should complete either the Free Application for Federal Student aid or the California Dream Act application. minimum of six units during the summer session to be eligible for a loan disbursement. The William D. Ford Federal Direct Loan program offers low-interest federal loans. you are setting up (Checking or Savings), enter your Routing and Account numbers,

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