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(2) Anticipated Aid, Disbursements, and Residual Funds

by wbpart01 last modified Mar 27, 2012 09:26 AM

Anticipated Aid

Grants, scholarships, and accepted federal loans are considered anticipated aid towards settling your bill with the Bursar's Office. For example, if you were notified of a Stafford Loan offer, you must accept that Stafford Loan on ULink. Your account listed under Tuition, Fees, Payment Options on the Student Services tab on ULink will reflect this as anticipated aid (along with other aid such as grants and scholarships).

Aid Disbursement

Once the Student Financial Aid Office completes a final review of your eligibility, we will disburse all available financial aid funds to the Bursar's Office beginning the week before classes start. The Bursar's Office will then post that aid to your account. Disbursed financial aid that exceeds your balance owed the university is considered residual funds. (Note: Some financial aid awards are restricted to payment of specific charges only and overawards are not refundable.) Some financial aid programs (such as the KY KEES, TEACH Grant, Robert Byrd) have later disbursement dates. Subsequent disbursements of available financial aid to the Bursar's Office are scheduled to occur at least twice a week.

Financial Aid from most federal and state aid programs is based on a student's enrollment as of census date each semester. Census date is the last day to drop at 100% tuition credit. Waitlisted courses are not included in a students enrolled hours. After the published census date, aid adjustments are made for the term and no other adjustments will be made for enrollment changes. Students have the right to appeal to the Financial Aid Office for unusual circumstances causing a late add. To ensure, proper posting of your financial aid awards, please be sure you are registered for the correct number of hours as of census date.

HigherOne

The University of Louisville has contracted with HigherOne, an outside company that specializes in student refund payment services. All residual funds are delivered to students through HigherOne. With HigherOne, you can request direct deposit of your residual funds to a free HigherOne checking account with a debit card or direct deposit to your personal bank account. We recommend that you set your preference at HigherOne as a direct deposit to either (1) a free HigherOne checking account or (2) your personal bank account called an ACH transfer. Students whose personal bank accounts are with a bank without Louisville area branches should consider a direct deposit to a free HigherOne checking account because of several HigherOne ATMs located on campus.

Financial Aid Advance

Two days before classes begin, the Financial Aid Advance form can be requested on ULink and printed by eligible undergraduates, graduate students, and law students. It is listed under the Financial Aid section on the Student Services tab. If you have any questions, you may contact our office to determine your eligibility for the financial aid advance. The maximum advance is $450 of your anticipated financial aid funds if your funds have not disbursed.

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FAFSA Code: 001999

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