Financial Aid 101 When

Financial Aid

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Financial Aid

When do I receive the money?
You can receive a disbursement of financial aid funds only after the Office of Financial Aid has received your application record in electronic form, and has determined that this record is correct and final, accurately reflecting all changes,

corrections and updates, and accompanied by all required supporting documentation.

When these conditions have been met, you will receive a Pell Factsheet telling you when you will receive your PELL disbursements. If you have been awarded other grants or self-help aid from CUNY, you will receive an award letter detailing the types and amounts of this additional assistance, along with disbursement information. When your Direct Loan request is processed, you will be sent a Disclosure Notice with anticipated disbursement dates.

TAP and PELL funds are usually credited to your student bill once you register for classes each term. TAP funds are not disbursed directly to you but are paid directly to the college to cover your tuition. Student loan funds may also be credited to your tuition bill if you have requested or have been awarded these funds.

Ordinarily, disbursements of PELL take place once each semester during the week set aside for the major PELL distribution. You can expect a Fall payment in October and a Spring payment in March according to the following Financial Aid Disbursement Schedule. If you don't make the deadline for the major PELL distribution, you will usually be able to receive a late disbursement of PELL. Other grants, loans or scholarships not utilized for tuition or fees will be issued to you after the add/drop registration period according to the above payment schedule.

	Student financial aid is awarded with the expectation that you will attend school for the entire period for which your financial aid was intended. To receive any financial aid payments, you must actually begin attendance in your classes. The college uses attendance information reported by your instructors to determine whether or not you have actually begun attendance.
If you register for classes but do not begin attendance, your financial aid may be cancelled. If you receive a disbursement of financial aid funds for any class you have never attended, you will be liable for repayment of those funds and must return the payment immediately to the college.

Before releasing any grant or loan funds to you or crediting your tuition bill with these funds, we will verify your enrollment status with the college registrar. Your enrollment status will be measured at the end of the add/drop period to determine your final eligibility for a PELL Grant payment. However, for other grants and student loans, your enrollment status will be rechecked at the point the payments are actually made regardless of when in the semester you are receiving it.

Learn more about how enrollment and attendance may affect your eligibility for aid payments in the Grants and Loans sections of this web site.
What if I need more help?