Disbursement is when funds are disbursed or credited to a student’s account at the University of La\u00a0Verne.<\/p>\n
Financial aid that exceeds the amount the student owes to the University for direct-costs will be refunded to the student in the form of a refund check or direct deposit to cover non-institutional educational costs such as books and supplies, off-campus housing and transportation. If eligibility requirements for each award have been satisfied, these disbursements will take place the second week of the semester after the add\/drop period for the majority of our\u00a0 programs.<\/p>\n
Psy.D. and Ed.D.\u00a0 receive their disbursement 7 days before the start of the semester.<\/p>\n
If eligible, a refund check or Direct Deposit will be generated\u00a0within 14 days of the date\u00a0<\/strong>your student account goes into a credit status. Checks are mailed to your mailing address. Please\u00a0click here<\/a>\u00a0if you need instructions on how to set up a Direct Deposit account.<\/p>\n A student who is eligible for a refund due to excess financial aid and who used a credit card to pay any and all of their tuition and fees, may have a refund processed to their credit card up to the amount of the payment. This policy applies to all credit card transactions, regardless of the order of payment. Any credit over the amount paid by credit card will be processed through direct deposit or paper check.<\/p>\n Students must meet eligibility requirements before financial aid is disbursed. Eligibility requirements include, but may not be limited to the following; registered for classes, maintaining satisfactory academic progress, enrolled in the correct number of units and satisfying and completing necessary documentation. Financial aid programs are subject to federal, state, institutional, and lenders funding levels. Forms, dates and requirements are subject to change.<\/p>\n As a student or parent borrower, you have the right to cancel the entire loan or any portion (a specific disbursement) of any federal Stafford, Perkins or PLUS loan. Requests to cancel a specific loan disbursement may be submitted prior to the date of crediting to your account or within 14 days from the date you receive official notification from the Student Accounts Office that loan funds have credited to your account. To request cancellation of a loan disbursement, please complete a\u00a0Request to Return and Cancel Loans Form. No interest will be charged and loan fees will be returned to the loan holder.<\/p>\nFinancial Aid Disbursement Schedule<\/h2>\n
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\n Financial Aid Program<\/strong><\/td>\n Timeline of Disbursements<\/strong><\/td>\n<\/tr>\n \n California Programs:<\/strong><\/td>\n<\/tr>\n \n Cal Grants A & B<\/td>\n After the add\/drop period<\/td>\n<\/tr>\n \n La\u00a0Verne Programs<\/strong><\/td>\n<\/tr>\n \n La\u00a0Verne Leo Merit Award<\/td>\n After the add\/drop period<\/td>\n<\/tr>\n \n La\u00a0Verne 1891 Merit Award<\/td>\n After the add\/drop period<\/td>\n<\/tr>\n \n La\u00a0Verne Founders Merit Award<\/td>\n After the add\/drop period<\/td>\n<\/tr>\n \n La\u00a0Verne Trustees Merit Award<\/td>\n After the add\/drop period<\/td>\n<\/tr>\n \n La\u00a0Verne Performance Award<\/td>\n After the add\/drop period<\/td>\n<\/tr>\n \n La\u00a0Verne Named Scholarships<\/td>\n After the add\/drop period<\/td>\n<\/tr>\n \n La\u00a0Verne Grants<\/td>\n After the add\/drop period<\/td>\n<\/tr>\n \n La\u00a0Verne Loan<\/td>\n After the add\/drop period<\/td>\n<\/tr>\n \n Federal Programs<\/strong><\/td>\n<\/tr>\n \n Federal Pell Grant<\/td>\n After the add\/drop period<\/td>\n<\/tr>\n \n Federal SEOG Grant<\/td>\n After the add\/drop period<\/td>\n<\/tr>\n \n Federal Perkins Loan<\/td>\n After the add\/drop period<\/td>\n<\/tr>\n \n Federal Stafford Loan<\/td>\n After the add\/drop period<\/td>\n<\/tr>\n \n Federal Stafford Loan- Ed.D.\/Psy.D.<\/td>\n 7 days before the start of the Semester<\/td>\n<\/tr>\n \n Federal PLUS Loan<\/td>\n After the add\/drop period<\/td>\n<\/tr>\n \n Federal Grad PLUS Loan- Ed.D.\/Psy.D.<\/td>\n 7 days before the start of the Semester<\/td>\n<\/tr>\n \n Federal Grad PLUS Loan<\/td>\n \u00a0After the add\/drop period<\/td>\n<\/tr>\n \n Outside Scholarships\/Awards<\/strong><\/td>\n<\/tr>\n \n Outside Scholarships<\/td>\n Upon receipt of award<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n Notice of Disbursement and Right to Cancel Federal Loans<\/h3>\n