demonstrate financial need (for most programs), be a U.S. citizen or an eligible noncitizen, have a valid Social Security number (except for students from the Republic of the Marshall Islands, Federated States of Micronesia, or the Republic of Palau), be registered with Selective Service, if youre a male (you must register between the ages of 18 and 25), be admitted into a degree-seeking program, be enrolled at least half-time to be eligible for, sign the certification statement on the Free Application for Federal Student Aid (FAFSA)at, you are not in default on a federal student loan, and do not owe money on a federal student, and, you will use federal student aid only for education purposes. then the school-issued cards do not fall under the definition of an account with a third-party servicer (Tier 1). August | Awards Disbursed. who is enrolled more than half time, is eligible to receive an additional (year-round) Pell Grant award of up A school may hold the check for up to 21 days after the date it notifies See 34 CFR 668.165(a)(6). A school can make an interim disbursement of certain types of FSA funds to a student selected for verification (including one selected by the school rather than the CPS) prior to verification being completed. machine (ATM) network that has ATMs sufficient in number balance of $100 would be created because the total FSA funds credited to the account requested from the reason code dropdown menu; provide an explanation for the request; and. A school that has such a contractual agreement for housing and books and supplies is viewed as providing the goods and services itself. *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. student, and her total allowable charges for the fall term amount to $1,500. Schools may request an extension to the data submission deadline for Direct Loans or grants via the post-deadline/extended processing request page in the COD System. In doing this, schools should follow these rules: Prominently place first the number of student account holders How do I contact your office? Financial Aid disbursements occur approximately ten days before classes begin for fall and spring (summer varies each academic year) and are posted to your student account as a payment. enrolled in less than 6.1 units at the end of the add/drop period would have a change 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. holder of the card with all of the consumer protections, and must comply Dates web@csusm.edu Academic Calendars Contains semester start dates, end dates & holidays for the current school year Financial Aid Dates & Deadlines Final Exam Schedules Enrollment Information (Select the current term to find information on enrollment dates and times, add/drop dates, withdraw deadlines, final exams, etc.) 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. Recipients must also meet financial requirements. If a student withdraws from school and any of the FSA credit balance in his or her school-issued, stored-value card is unclaimed, the school must return to the Department any unclaimed funds within the time frames specified earlier in this volume under Time frame for returning unclaimed FSA credit balances. whether or not it is assessed to all students at the school. Three or more years of full-time high school coursework, and a total of three or more years of attendance in California elementary schools, California secondary schools, or a combination of both. 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. unless the student has successfully completed the loan period; a late disbursement of Direct Loan funds to a first-year, first time borrower who withdraws before the 30th day of the students program of study, unless the school meets the requirements for a waiver based on low default rates (see Volume 2); and. In the information a school provides to students when it informs them they are due a late disbursement, the school may include information about the advantages of keeping loan debt to a minimum. 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. Deposits can only be made to a checking or savings account number. 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.). Direct Deposit refunds are processed and disbursed by the University within 2-3 business days. A third-party servicer is an individual or a state or a private, for-profit or non-profit organization that contracts with a school to administer any of the schools responsibilities under the FSA programs. If a school credits a students account with its own funds earlier than 10 days ceases to perform any functions prescribed under the contract, or if the servicer A student body center fee must be established upon a favorable vote of two-thirds of the students voting in an election held for this purpose (Education Code, Section 89304). if the insurance is required for all students and the coverage A Title IV credit balance occurs whenever the amount of Title IV To get your first financial aid refund Schools that fall below this threshold but have at least one student To receive a financial aid refund, students must have excess aid after tuition fees have been paid and no pending holds or 2022/2023 To Do List items. Repayment begins approximately 60 days after disbursement; however there is an option to defer payments while the student meets certain enrollment criteria. 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. January 7, 2023 Spring financial aid may disburse as early as January 7th for full-time students (full time is 9 credits for graduate students and 12 credits for undergraduates). fees charged to students in a format that includes a dollar sign, the amount in whole dollars, and a comma after the thousands place (e.g. As a result of this adjustment, a student may qualify for additional financial aid monies. The school must also explain how it will go about cancelling the authorization and that a cancellation is not retroactive. with all of the requirements that apply to a payroll card account under the A school may continue to share information related to enrollment Because the regulations allow schools up to 240 days to deliver a Title IV Credit Balance to a student who left parent directly. be specified in a students enrollment agreement to be considered an institutional charge. However, a school may school that is used to identify the student; and. 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. account; opening a bank account for the student; and. apply to Tier 2 accounts. 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. return the funds to the appropriate FSA program. Charges for books and supplies that are institutional charges would also be prorated. When these are applied against Regulations governing the refund of tuition, including nonresident tuition and mandatory fees for students enrolling at a California State University, are included in Section 41802 of Title 5, California Code of Regulations.For purposes of the refund policy, mandatory fees are defined as campus-specific fees that are required to be paid in order to . dispensing cash for which the school obtains a receipt signed for the various scholarship opportunities administered by CSUSM. is charged for the total costs of an 1,800-clock-hour program at the For annual award amounts and general repayment terms, visit https://www.csusm.edu/finaid/fatypes/programs/index.html, The Federal Direct PLUS Loan program enables parents to borrow for a dependent student enrolled at least half-time. the students ledger account for more than the charges associated Additional documents may be requested to confirm the information on the application. this as a refund; however, it is not the same thing as a refund under the Nonresident Tuition (in addition to basic tuition and other systemwide fees charged to all students) for all campuses: $396 per unit. all the funds a student was entitled to, please note that disbursing or redisbursing students account with Title IV, HEA funds to pay for housing and for Section 68120 Surviving spouse or child of a deceased California resident who was employed by a public agency, or was a contractor or an employee of a contractor, performing service for a public agency, or was a firefighter employed by the federal government whose duty assignment involved the performace of firefighting services in this state. You can change youreRefundinformation at any time by clicking the 'Enroll in Direct Deposit' link in your Student at any time, and that a cancellation is not retroactive. ensure all requirements for T1 arrangements are met; ensure that the terms of the accounts offered pursuant to a T1 arrangement are not inconsistent with the best financial interests of the students opening them. Your school has the option of paying its share of a students FWS wages in the form of a noncash contribution of services or equipment for example, tuition and fees, room and board, and/or books and supplies. Financial Aid Application Timeline. FAFSA and CADA Applications Open - Complete the FAFSA Application | Federal Student Aid or California Dream Act Application to be considered for financial aid for the following academic year. For 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. include: charges for any required course materials that a school can 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. or the school on behalf of or together with the third-party in a refund or what your balance will be after your financial aid applies. to student accounts. The William D. Ford Federal Direct Loan program offers low-interest federal loans. Schools should always use G5 to return Title IV funds. The most important principle to keep in mind is that all tuition, fees, room and board, and The Credit Card Accountability Responsibility and Disclosure Act of 2009 (CARD Act) changed consumer protections available to college students to address concerns about the marketing practices and financial incentives related to contractual relationships between institutions and credit card providers. Students will be notified of any Institutional charges are generally those for tuition and fees, room and board, and other educational expenses that are paid to the school directly. Financial Aid and Scholarships Office Please note that Extended Learning classes may have different refund schedules. at an ATM in a state that belongs to the surcharge-free front represent the costs of education and services that will be provided If a school charges for books and supplies as part of its tuition and fees and a student opts out of that method for providing books and supplies, the school must reduce the students tuition and fees by the amount associated with the books and supplies. by the parent. remains in effect for the entire period for which the student that are eligible for Grants. award year through G5 and amend Part IV, Sections C-E, and Part VI of the FISAP. Cal Grant Community College Transfer Entitlement Awards. Refunds related to changes in your enrollment (withdrawal, cancellation, changing fees that are required to be paid in order to enroll in state-supported academic programs for student loans funds. convenient access to Title IV, HEA program funds in part and By signing up for eRefund (direct deposit), refunds will automatically be If the funds include a Direct Loan, the notice must indicate which funds are subsidized loans, unsubsidized loans, and/or PLUS loans. The Good to Go email totals your tuition, fees, and financial aid and tells you how much you can expect A student will be eligible for a full refund if any of the following scenarios occur: Beginning with the first day of instruction, refunds for complete withdrawals will Community college students who do not already have a Cal Grant may be eligible to receive a Cal Grant A or B Transfer Entitlement award if they have at least a 2.4 grade point average when transferring to a baccalaureate degree granting institution. disbursement of those funds would have created an FSA credit balance. Once your funds have been disbursed to your account student financial's will issue refunds either by direct deposit or check. phone numbers to ensure CSUSM can get your refund check delivered to a current address Tier 1 and Tier 2 arrangements; and. Credit FWS wages to a students account to pay any A school offering accounts under T2 arrangements must ensure that: the financial accounts are not marketed or portrayed as, or The additional $850 in Pell money amounts to through a specific financial institution in order to receive their student or parent of his or her to cancel all or a part of a loan. paid into your bank account of choice and only takes 1-2 days for processing. Class Schedule Available - Fall 2023. Instructional FAQs How can I make a payment? disburse any remaining balance by the end of the schools final Tuition and fees listed in published schedules or student accounts may need to be increased when public funding is inadequate. from institutional charges if all the following criteria are met: There is no up-front charge for the books, supplies, or equipment A school makes a direct payment for the amount of the Title IV program funds a student is eligible to receive (including Direct PLUS Loan funds that the students parent authorized him or her to receive) by: initiating an EFT of that amount to the students financial account, including transferring funds to stored-value cards and debit cards (see the discussion under Paying FSA Credit Balances later in this chapter); issuing a check or other instrument payable to and requiring In addition, the requirement that Title IV loan funds be disbursed by the end of the loan period means that those funds may not be held in anticipation of charges that might be posted to a students account after the end of the loan period. to CSUSM students. The Department considers a school on Heightened Cash all contracts for the marketing or offering of a schools All listed fees, other than mandatory systemwide tuition, are subject to change without notice, until the date when instruction for a particular semester has begun. Students who begin the term as a Full-Time student (6.1 or more units) and end up amount of aid is reduced due to a change in enrollment status. Also, before disbursing FSA funds, the school must determine and document that the student remains eligible to receive the type and amount of FSA funds that it expects to disburse. The conditions and limitations for a post withdrawal disbursement are the same as for all other late disbursements though there are additional requirements. balance; or. March 2 - May 30 | Register for Direct Deposit. See the discussion under Third-Party Servicers Disbursing Credit Balances by EFT and Tier One and Tier Two Arrangements later in this chapter for additional information about working with third-party servicers. Except in the case of loan funds made as part of a post-withdrawal disbursement (see Volume 5 for notification requirements in such cases), when Direct Loan or TEACH funds are being credited to a students ledger account, the school must also notify the borrower in writing (paper or electronically) of the: anticipated date and amount of the disbursement; students or parents right to cancel all or a portion of a loan, loan The following reflects applicable systemwide tuition and fees for semester universities. Graduation from a California high school or attainment of the equivalent thereof. Please enable Javascript for full functionality. In order to academically succeed in a program, a student must be able beginning in May. disbursed in reports or data submissions to the Department. payment methods must credit a students ledger account for the amount Application Period: (October 1st February 1st) Note that these time frames for disbursing to the students account (or directly to the student or parent) are different than those for paying FSA credit balances. A school must obtain that consent before: the school provides, or permits a third-party servicer to provide, that may be credited to a students account and the amount that must be the school-issued stored-value cards; the school itself is holding and is in control of the funds held Therefore, if PLUS Loan funds create a credit balance, the credit balance would have to be given to the parent. Other FSA requirements apply to However, the school may charge for a (See the section on demonstrating a real and reasonable opportunity in Volume 5, Chapter 1.). Foster Youth and therefore not subject to the regulations include: General marketing of a financial institution that does not specify the 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. Section 68121 A qualifying undergraduate student (until attaining the age of 30) who is the surviving dependent of any individual killed in the September 11, 2001, terrorist attacks on the World Trade Center in New York City, the Pentagon building in Washington, D.C., or the crash of United Airlines Flight 93 in southwestern Pennsylvania, if the student meets the financial need requirements set forth in Government Code Section 69432.7 for the Cal Grant A Program and either the surviving dependent or the individual killed in the attacks was a resident of California on September 11, 2001. 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. IV credit balance, the school must pay the balance directly to the student 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. not borrowed the full annual loan limit based on their academic class level (Freshman, same credit card. Students whose families have income and assets up to $171,000 per year may be eligible for a scholarship of no less than 10% and no more than 40% of the mandatory system-wide tuition and fees. schools refund policy or a post-withdrawal disbursement given to a $1,234). Financial aid refunds are sent via e-Refund (direct deposit) or by check. pick-up at a specified location at the institution. They should not return Direct Loan funds to EDs federal loan servicers directly. account for allowable charges at your school or by paying the student or funds. E-Check payment is free! Service Grant award in the COD System. 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 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. communicated directly to students by the third-party servicer within 14 days of being notified funds have been applied to your student account, or. Recipients must be California residents who are admitted to a CSU campus through the Educational Opportunity Program. In addition, the financial institution issuing the card must provide the is delayed due to invalid account information, CSUSM will reach out to you as soon The exact date of a student's financial aid disbursement depends on the specific college he or she attends. The institution may also report the debt to a credit bureau, offset the amount due against any future state tax refunds due the student, refer the debt to an outside collection agency, and/or charge the student actual and reasonable collection costs, including reasonable attorney fees if litigation is necessary, in collecting any amount not paid when due. Tier 1 and Tier 2 arrangements (see the Federal Register of July 18, 2017, for the final suggested format for the disclosure of classes online prior to the first day of the term will eliminate potentially owing In order to comply with the excess cash regulations (described in Chapter 1), when requesting funds with which to make FSA disbursements, schools must ensure they do not draw down more cash than they can disburse over the next three business days. insured for the benefit of the recipient by the Federal Deposit If the FSEOG funds cannot be carried forward to the next award year, the school must return them to the correct Similarly, if a charge is part of an enrollment agreement or any addendum or if the school routinely debits a students ledger account for the amount with the tuition and fees, it is generally an institutional charge. awarded. Questions? Federal regulations require federal aid may only be awarded to an undergraduate, graduate or a professional student once for a previously passed course. A school has the flexibility to choose the method or methods to satisfy this provision based on its administrative needs and constraints or an evaluation of the costs and benefits of one or more methods. a Title IV credit balance. Please see Volume 5 for a discussion of credit balances responsible to pay: To review what amountis owed by due date, click the Charges by Due Date link in schools submit a request for those funds. For example, some schools prepare billing If materials are no longer available for purchase, or for items borrowed from other CSUs (through CSU+), the replacement cost may be $90. However, in no case will TKMU hold an FSA credit balance of loan funds beyond the end of the loan period nor an FSA credit balance of other funds beyond the end of the last payment period in the award year for which the funds were awarded. the contract information was posted. Enrollment Requirements & Grant Recalculation Date, Satisfactory Academic Progress (SAP) Policy, Special Circumstances and Petition for Independent Status, Scholarship Review Committee (Faculty and Staff Only), October | Apply for Financial Aid & Scholarships, January | Deadline for CSUSM Scholarships, March 2 - May 30 | Register for Direct Deposit, July | Course Drop Protection Applied & Look for your 'Good to Go' email. A school may not require a student to take any actions to obtain his or her credit balance. right to cancel all or a part of a loan or grant; or. Funds from loans are based on full-time enrollment. Sec. In the event a student withdraws from a course prior to the Financial Aid Freeze Date, the award will be recalculated and the student may owe a repayment. 34 CFR 668.164(c). All classes have been dropped prior to the first day of the term. phone numbers to ensure CSUSM can get your refund check delivered to a current address inform students in writing that they are not required to open CSUSM Scholarship Opens - One application for the various scholarship opportunities administered by CSUSM. The most common change that would make a student ineligible for a Direct Loan disbursement is if the student has dropped below half-time enrollment, so it is important that the financial aid office have a system to verify the students enrollment status at the time of disbursement. There are 2 basic types of financial aid: gift aid and self-help aid. 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. rejected by the bank, which will delay your refund. In-person at Cougar Central, Monday to Friday, 8:00 am - 5:00 pm (cash, checks and Student Financial Services encourages all students to enroll in direct deposit. They do not need to request post-deadline processing for Pell Grants if they are processing only downward disbursement adjustments. to show on your credit card account. Students are strongly urged to sign up for direct deposit, as it is the quickest way 30 days before and no later than 30 days after crediting the Funding for financial aid programs is provided by the federaland state governments, colleges and schools, and a variety of other public and private sources. her EFC and COA.
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