Federal and state financial aid and scholarships are disbursed during the fall, spring and summer of the academic year within the first three weeks of the semester. If disbursement criteria are met, financial aid is disbursed to your student account on the third Friday of each semester. This assumes that you have been awarded and have accepted your financial aid, have signed all required promissory notes for your loans and were registered for the minimum required credits.
Financial aid disbursed to your student account pays your tuition and other university fees including late charges. If the amount of your aid is greater than the charges on your student account, the difference will be refunded to you by Student Financial Services. Student Financial Services is responsible for processing refunds from a student's account once financial aid has been applied. If you have questions about your bill, or your refund, please contact Student Financial Services.
Students who receive money from Federal Work-Study programs are paid wages for the hours worked during the pay period. These funds do not go toward paying student tuition and charges. Federal Work-Study funds are paid out through a regular paycheck which comes from the Human Resources Department.
There are several ways in which your aid may be delayed. Here are the most common reasons:
- You may be required to complete Entrance Counseling and sign a Master Promissory Note (MPN) for your Ford Direct Loans. You would have been notified of these requirements via an email to your FPU Campus Cruiser email account.
- Dropping classes (below 12 for undergraduates, 9 for graduates). All students are assumed to be full-time unless they notify Financial Aid in writing that they will be less. If you are not enrolled at full-time and have not notified us, your aid will not disburse.
- Registering late for classes.
- Having unsatisfied requirements with your financial aid file that you have not completed.
If you have an eRefund account set up, your refund will be directly deposited to your bank account. You can sign up for the eRefund through the Online Payment Center in the eRefund section. This is the quickest, most efficient way to receive your refund.
You are responsible for managing your Financial Aid experience, so be sure to check MyFPU frequently and review any emails you receive from us as they may include requests for additional information or action. Call, email, or stop by if you have any questions, we are here to help you!
Loan Cancellation Notice
Any loan(s) disbursed to your student account will apply towards your university charges first. Please note the disbursed amount reflected is the NET amount after the Direct Loan Servicer has deducted the required loan fee(s). You have the right to cancel all or a portion of your loan(s) within 14 days of being notified funds have been applied to your student account, or within 14 days after the start of the semester, whichever is later. If you do wish to cancel or reduce any part of your loan(s), please contact the Student Financial Services office for further guidance.