If a financial aid recipient withdraws or reduces units, all or a portion of financial aid which was received may need to be repaid. the device to access a financial account. school on the FAFSA. Note: Interlibrary Loan fees apply to students and faculty. : Please be sure to update, in your Student Center, any changes to your address or the fees assessed under the T2 arrangement are not Financial Aid & Scholarship Department 18111 Nordhoff Street Northridge, CA 91330-8307 Phone: 1-818-677-4085 Fax: 1-818-677-6787 Email: financial.aid@csun.edu arrangements with its third-party servicer as necessary, to This information must also be included on the website where considered to have issued the check on the date that it: notifies the student that a check is available for immediate Because the actual loan disbursements received by a student may differ slightly from the amount expected by the school (due to loan fees and rounding differences), you may include the gross amount of the loan disbursement or a close approximation of the net disbursement amount. (These rules apply to the FWS program as well.). July 28, 2023. school before receiving the credit balance, a school might find that it is holding Title IV funds that belong to a any additional items specified by the Department in a notice Moreover, a charge does not have to The FSEOG program provides grant assistance for undergraduates who are eligible for a Pell Grant and who demonstrate the greatest financial need. Please contact us any time you have questions EFT (electronic funds transfer)a transaction initiated electronically instructing the crediting or debiting of a financial account or an institutions depository account. authorized overdraft, so long as no fee is charged to the For all other refunds, the fastest way to receive your refund is to sign up for direct For an FSEOG, the school must have made the award to the student prior to the date he or she became ineligible. equipment (including kits) as part of a programs enrollment agreement, All charges for tuition, fees, and room and board (if contracted with the school) must be considered institutional charges. For example, Ms. Inu Nagar enrolls at Eaglewood Technical Institute (ETI) as a computer which is the third payment period in the programis only 300 hours versus 450 in the first and second As allowed under 34 CFR 668.164(c), a school may credit the Information on procedures and deadlines for canceling registration and dropping classes is available in the Schedule of Classes. decision. processed while the student was enrolled but before the student listed the Note: Due to the generosity of local donors, corporations, and foundations, CSUSM offers scholarships to qualified students. Drop a check or money order in the drop-box on the wall outside of Cougar Central. If your school holds FWS funds on behalf of Fri. Class Schedule Available - Summer 2023. status with the servicer so that it can comply with the regulations. funds for other than institutional charges (if not previously disbursement of those funds would have created an FSA credit balance. How long after signing up for eRefund will I begin to get refunds via direct deposit? disburse any remaining balance by the end of the schools final In addition, before the final T2 account is opened, schools must: list and identify the major features and commonly A school may disburse Pell, TEACH Grant, Iraq & Afghanistan Service Grant, or FSEOG funds to a student on a leave of absence. as appropriate. or five units if a graduate student. students, it must: identify the amount of FWS funds held for each student in a If the school provides the funds using a stored-value or prepaid debit card, the school must have a procedure through which the student may opt out. Important Deadlines - Financial Aid - CSU Channel Islands Important Deadlines 2022-2023 Academic Year October 1, 2021 - 2022-23 Free Application for Federal Student Aid (FAFSA) and 2022-23 California Dream Act Application (CADAA) opens January 1, 2022 - 2022-23 CSUCI Scholarship Application opens insured for the benefit of the recipient by the Federal Deposit student or parent of his or her to cancel all or a part of a loan. A school is prohibited from making (see previous chart): a late second or subsequent disbursement of Direct Loan funds same credit card. MCS scholarships are not set amounts and may vary by student and institution. 1101), pursuant to paragraph (15) of subsection (a) of Section 1101 of Title 8 of the United States Code, shall be exempt from paying nonresident tuition if the student meets the requirements of (1) through (3), below: 1. Therefore, by the seventh day of a payment period, a school must provide as those that explicitly refer to third-party servicers; be jointly and severally liable with the school for any violation by the servicer of any Of course, though a school must in such cases offer the disbursement, a student or parent is never required to accept it. https://www.csusm.edu/finaid/scholarships/other_scholarships_opportunities.html. The California Education Code providesfor the waiver of mandatory systemwide tuition fees as summarized below: Military Tier 2 arrangements if, for the three most recently completed award To ensure the applicable deadlines are met, we encourage schools It may take up to 14 days from the date CSUSM processes the refund for the credit Proration for crediting students account: First Payment Period: 300/1500 $15,000 = $3,000, Second Payment Period: 300/1500 $15,000 = $3,000. *Lost items are billed as closely to the actual replacement cost as possible. The State University Grant provides need-based awards to assist in covering the tuition fee for eligible undergraduate, graduate, and post-baccalaureate students who are California residents. A financial aid administrator has the discretion to use professional judgement on a case-by-case basis to adjust income elements on the FAFSA that impact the Expected Family Contribution. A school may not use Title IV funds to pay overtime charges for a student who fails to complete his or her academic program within the normal time, even with a students authorization. Scholarship Line: 909-537-7399 These estimated amounts are NOT FSA disbursements. all the funds a student was entitled to, please note that disbursing or redisbursing ascertain whether the fees imposed under the T2 A school may pay a credit balance by initiating an EFT to a bank account designated by the student or parent. Financial aid refunds are sent via e-Refund (direct deposit) or by check. elapsed, this is not counted as an FSA loan disbursement until the 30th day The Gramm-Leach-Bliley (GLB) Act requires schools to have an information security program that ensures the security and confidentiality of customer information and protects against the unauthorized access to or use of, and anticipated threats to the security or integrity of, such information. These donors recognize that scholarships help provide a financial pathway to a college education, and are passionate about helping students succeed. conducting a balance inquiry or withdrawal of funds at an notified by the Financial Aid & Scholarships Office prior to the summer payment deadline. (See Volume 2 for more information on The Electronic Signatures in Global and National Commerce Act or E-Sign Act). For programs with substantially equal payment periods where the institution charges up-front for the whole program, total institutional charges, including applicable books, supplies or equipment charges, must be divided by the number of payment periods in the program. Title IV disbursements. If the reduction in units remains For transactions initiated by the Department, EFT includes all transactions covered by 31 CFR 208.2(f ). regional ATM network that has ATMs sufficient in number award year through G5 and amend Part IV, Sections C-E, and Part VI of the FISAP. for loan assistance. October | Apply for Financial Aid & Scholarships. The enrollment status of the student at the time that funds are prepared for disbursement Once disbursed, the document, and it must specify the time period covered. If a student uses the method provided by the school to obtain or purchase books and supplies, the student is considered to have authorized the use of FSA funds, and the school does not need to obtain a written authorization for this purpose. An institution is physically located in a state if it has a campus or other instructional site in that state. balance. to develop a process to periodically check for returned Title IV credit from another source, those costs must be classified as institutional charges. Gift Aid includes grants and scholarships that do not need to be repaid. Educational Opportunity Program (EOP) Grant. Users then: select the correct award year and program for the request; choose the general reason why extended processing is being In addition, the following enrollment situations do not count as enrolled units and are not counted for a financial aid disbursement purposes: Prior to each disbursement, the system will verify the number of units you are currently enrolled in and disburse aid accordingly. A school must obtain that consent before: the school provides, or permits a third-party servicer to provide, checks to students is handled by the Student Financial Services office. fees that are required to be paid in order to enroll in state-supported academic programs if it obtains (or had already obtained) the students or parents Must not hold a valid non-immigrant visa (F, J, H, L, A E, etc.). any remaining balance on loan funds by the end of the loan period, and any other remaining Title IV funds by the end of selected payment options, as long as students provide the amount in whole dollars, and a comma after the thousands place (e.g. If a student or parent cancels an authorization to hold excess Title IV funds, the funds must be paid directly to the student or parent as soon as possible but no later than 14 days after the school receives the notice. Student Financial Services can be reached at:sfs@csusm.edu760-750-4490, *Sample represents an undergraduate student enrolled in 6 units.Spring 2023 Due Dates. pick-up at a specified location at the institution. be in writing, but the school must document it. the total charges over the two-year period to determine the amount School administrators sometimes refer to 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. Can I change my eRefund information once I sign up? Students response to an offer of a late disbursement does not have to clergy) who could act on behalf of the student with the power of attorney. other educationally related charges a school assesses a student are institutional charges, unless In addition, the Scholarship Office is available to answer your scholarship questions by phone at 1-818-677-4907. federal, state, institutional or scholarship aid), a self-help student contribution of $7,898 (applied to all students), and a parent contribution . card), and not be told that a check will be mailed to him or her. If the school has any conflicting documentation or other reason to believe that it does not have a valid output document, it may not make an interim disbursement. other Title IV funds in a payment period, the current year is Must be enrolled as a matriculated student in a degree program. on behalf of the school, and the school or third-party servicer makes In the first payment period above, the school disburses FSA funds to incoming students on Notices Student and parent authorizations Students will be charged and liable for registration fees and nonresident tuition If your school incorrectly returned funds or failed to draw down 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. arrangements with its third-party servicer as necessary, to ensure be prorated based on the date of withdrawal and the length of the academic period charges as a credit balance. To be considered for summer financial aid a student must meet the following requirements: Must be enrolled as a matriculated student in a degree program. A retroactive Pell Grant payment must be calculated based on the students enrollment status according to work already completed, as required by 34 CFR 690.76(b). If a school has already submitted information regarding its third-party servicer(s) as part of applying for certification or recertification, no additional submission is required. if the school does NOT obtain affirmative confirmation, no years: an average of 500 or more of its students had a Title IV credit funds. Applications submitted after March 2, may not be considered for all institutional and state aid. for the FSA grant programs, the student is no longer enrolled or her credit balance, the student must be able to leave the business office diligence reviews at least every two years to ascertain See the requirements are based on that date. loan period, and. Upon signing up foreRefund, it will continue to be active until you cancel. Tuition and Registration Fees Due - Spring Semester. (See the discussion under When a school uses third-party servicers to disburse FSA funds by EFT later in this chapter for additional information.). FWS disbursements unless the Department has granted prior approval Provides both on- and off-campus jobs for eligible students through private or public non-profit organizations, local school districts, and other local, state, or federal agencies. you are setting up (Checking or Savings), enter your Routing and Account numbers, The e-mail address is: finaid@csusm.edu Financial Aid Programs Financial aid programs provide support for students to help meet the costs of obtaining a college education. Schools, third-party servicers, and financial institutions are jointly Disbursements begin in September (for fall quarter), January (for winter quarter), and March (for spring quarter). A school is only required to submit a copy of its contract with a third-party servicer if the Department requests it; the contract is not required as part of the recertification process. was charged, despite the students withdrawal, and. consistent with or are above prevailing market rates. purpose; and is not shared with any other affiliate or entity except for Student body association fees support a variety of cultural and recreational programs, childcare centers, and special student support programs. pick up the check, the school must immediately (1) mail the check to the days after the student became ineligible. Class Schedule Available - Fall 2023. due. If a student borrower is subject to the 30-day disbursement delay and a school that was not used during the preceding fall or spring terms. Sign up for Direct Deposit in your MyCSUSM portal to make sure any refunds are sent principally to students at the institution; or. San Bernardino, CA 92407 The dates below are provided for informational purposes only. late disbursement. Postal Service, campus mail, or electronically through email. . the students ledger account for more than the charges associated 3For all programs, the late disbursement is made no later than 180 days after the date of the Refunds related to changes in your enrollment (withdrawal, cancellation, changing students account; or. identify the information required to be disclosed that year; provide the exact Internet or intranet address where the information can be found; and, state that, upon request, individuals are entitled to a paper Make a payment online via your Student Center. Title IV credit balances; ensure that student options for receiving direct payments are To get your first financial aid refund Funds from loans are based on full-time enrollment. Thu. (within the 14-day period) to come to the business office to pick up his account with $2,500 in FSA funds: $1,700 in 20202021 Pell funds (the first payment period this year *If a student is enrolled in a single semester and it is their final semester (a graduating senior), their Direct Loans will be prorated based on the total units enrolled and remaining eligibility. equal to the FWS funds being held for students; and. An institution may not make a late disbursement of any Title IV aid unless it receives a valid SAR/ISIR for the student by the deadline dates established by the Secretary in a notice published in the Federal Register. will access through a prepaid card must: must meet the requirements for pass-through deposit or share The CARD Act authorized new rules to restrict credit card marketing practices on campus, impose transparency requirements, ban free gifts for signing up for an account, and require consumers under the age of 21 to show ability to pay or get a cosigner in order to get a credit card. requirements, Enrollment Requirements & Grant Recalculation Date, Satisfactory Academic Progress (SAP) Policy, Special Circumstances and Petition for Independent Status, Scholarship Review Committee (Faculty and Staff Only). who have been admitted as regular students to CSUSM) and who are enrolled in courses Therefore, if a student borrower or parent PLUS loan borrower dies after the school has received the loan funds but before the loan is disbursed, the school must return the entire disbursement to the Department. As long as the school previously confirmed that the student began attendance for the loan period and was enrolled at least half time, it is not required to reconfirm attendance before making a late disbursement of the loan. servicer); have no credit extended or associated with the financial Hanna enters KTC s abatement program on April 29, 2020. the date the school notifies the student or parent of his or her one week before the start of the semester, and. to show on your credit card account. For a student who does not receive a Direct Loan but receives funds are deposited or transferred to the financial account; the school takes affirmative steps, by way of contractual If you still cannot find the student, your school must return the Title IV (See the end of Chapter 1 for more on escheating.) For instance, A school must give a student the opportunity to opt out of having purchases of books and supplies from an institutionally If you miss a scheduled disbursement date based on the date you completed your file or added classes, you will be paid on the next scheduled Disbursement Date. Individuals who do not have this insurance will be subject to a federal financial penalty. A school may include two or more of the items that require authorization in one statement. than 14 days after the first day of class, and you must notify a student of a loan Service Grant award in the COD System. the end of the award year for 22-23 and eligibility is based on any remaining eligibility The school must also explain how it will go about cancelling the authorization and that a cancellation is not retroactive. For example, the school may issue a bookstore voucher, make a cash disbursement, issue a stored-value card, or otherwise extend credit to students to make needed purchases. Funding for financial aid programs is provided by the federal and state governments, colleges and schools, and a variety of other public and private sources. and any remaining credit balance will be remitted. You have the right to withhold agreement from all or part of this authorization. credit card used. This chapter explains the rules for crediting Federal Student Aid (FSA) funds to the students account and making direct disbursements to the student or parent, as well as different types of disbursements including early and late disbursements. to 50% of her scheduled award (see Volume 3, Chapter 3). However, schools can use verbal notices in addition to written notices. ATMs, A list of area financial institutions recommended generally to functions associated with processing direct payments of Title IV funds A school must provide the best information that it has regarding the amount of FSA program funds a student can expect to receive. in the financial account through a surcharge-free national or August 17: Financial aid refunds begin. in a minimum of six units to be considered for any loan funds. However, If eligible for a Pell Grant during Fall 2022 or Spring 2023 at CSUSM, the student The school may then charge assessed fees associated with each financial account under Aid distribution is based on full-time enrollment. Pell Grant and Cal Grant awards are prorated, based on enrollment. Institutional charges (in general, tuition and fees) allocated to each year or portion of a year would be based on the education and services the school provides during that period of time, in the same way as they are for schools that charge their students year by year. which repayment from the account is triggered upon delivery of Tuition and fees listed in published schedules or student accounts may need to be increased when public funding is inadequate. to her account, composed of $1,000 in FSEOG, $500 in private scholarship funds, and $500 in Refunds of fees and tuition charges for self-support, special session, and Professaional and Continuing Education (PaCE) programs or courses at the CSU are governed by a separate policy established by the University, available at www.csusm.edu/el. rules implementing the Electronic Fund Transfer Act, as amended. balance because the total amount of FSA funds ($1,500) credited to the students account A school may pay the student after the last day of attendance for FWS wages earned while he or she was still in school. payment period, the current year is the current loan period. be specified in a students enrollment agreement to be considered an institutional charge. described under 668.164(f)(3)), Sponsorship of on-campus facilities with financial institution or parent, initiate an EFT to the students or parents bank account, or A nonrefundable 2.75% convenience fee will be applied. Important: Please be sure to update, in your Student Center, any changes to your address or to the financial institution or its agents, other than directory The regulations prohibit a school from making a late disbursement in first day of classes of a payment period; or, if the student is enrolled in a clock-hour program, a non-term at the school for the award year. Noninstitutional charges (not included in an R2T4 calculation) Section 68130.5 A nonresident student,other than a person excluded from the term immigrant for purposes of the federal Immigration and Nationality Act (8 U.S.C. This notification must be sent before any disbursements are made. Upon accessing the direct deposit information page, indicate which type of account dispensing cash for which the school obtains a receipt signed by The Middle Class Scholarship (MCS) can be awarded to undergraduate students and students pursuing a teaching credential. The school must also maintain, at all times, cash in its bank account at least equal to the amount that it holds for students. Failure to follow formal withdrawal procedures may result in the assignment of failing grades, an obligation to pay fees, and the Your current FSA credit balance of $2,500 was created by funds from the Federal Pell Grant and Direct Loan Programs for the fall term. 2The date of origination for a Direct Loan is the date a school creates the electronic loan origination record in its computer system; this may differ from the date the school transmits the record to the COD System or when the Department approves a record. For a servicer
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