Text:
Increase font size
Decrease font size

Disbursement FAQ’s

  1. What are the requirements for disbursement?
  2. How are refunds determined?
  3. How are refunds delivered to a student?
  4. What is the timeframe for disbursement?
  5. Must I accept my financial aid awards in order for them to disburse?
  6. Can I use my financial aid to pay a balance I owe from a prior year?
  7. How can I defer my bill?

 

.

1. What are the requirements for disbursement?
  • You must be registered for the correct number of hours before the beginning of the semester in order for aid to be disbursed in time to ensure refund availability.
  • You must also be in academic good standing and meet all Federal and Institutional requirements.
  • If your award includes a Federal Loan and you are a first-time borrower, you will need to complete federal loan entrance counseling and a federal loan master promissory note before the loan money can be disbursed.
  • If your award includes a UNC Loan, you must complete an ECSI promissory note before the loan money can be disbursed.

Back to Top

 

.

2. How are refunds determined?
Financial aid funds are credited to the student’s account at the Cashier’s Office and applied to the student’s bill. When the entire bill is paid, the student will be issued a refund of any remaining aid. Normally, financial aid provided by the Office of Scholarships and Student Aid (i.e., Federal funds, UNC scholarships and grants) transfers automatically to the students’ accounts; however, resources awarded to you from outside of our Office (e.g., private scholarships and/or loans, departmental awards, etc.) may not arrive and be credited to your student account as quickly. Students should visit the Cashier’s Office site and follow the instructions there for viewing your bill and all credits posted to your student account.

Back to Top

 

.

3. How are refunds delivered to a student?
Direct deposit allows the Cashier’s Office to electronically deposit your financial aid refund to your personal checking or savings account. It is the fastest method to make your refund available to you. The Cashier’s Office requires students expecting a refund use direct deposit.  Visit the Cashier’s Office site for information and instructions to sign up for direct deposit, and for additional payment and disbursement information.

Back to Top

 

.

4. What is the timeframe for disbursement?
Once you have met all of the requirements for disbursement, your financial aid funds will be electronically sent to your account at the Cashier’s Office. If you have met all requirements prior to the start of the semester, and you are to receive a refund, you may expect your refund to be available the first week of class each semester. If all requirements are not met until after the beginning of the semester, your financial aid disbursement will be delayed. Therefore, It is very important to make sure all requirements are met before the semester begins.

Back to Top

 

.

5. Must I accept my financial aid awards for them to disburse?
You do not need to accept scholarship or grant money. These funds are automatically accepted and will pay to your student account if you meet eligibility requirements.  If you wish to decline any portion of your financial aid award, please contact our office.  If you have been offered federal loans and/or UNC loans, you will need to log in to your Connect Carolina account and accept them. If you are a first-time borrower of a federal loan, you are required to complete a master promissory note (MPN) and entrance counseling before the first disbursement of your loan can be made. If your award includes a UNC Loan, you must complete an ECSI promissory note before the loan money can be disbursed.

Back to Top

 

.

6. Can I use my financial aid to pay a balance I owe from a prior year?
Financial aid covers only the academic year for which it is intended; if you owe from a previous year, you must make other arrangements to pay this portion. Financial aid cannot cover prior academic year charges. You must pay any previous balance and any amount not covered by your financial aid. Some private lenders may allow students to borrow loans for past due balances, you would need to contact private lenders to inquire.

Back to Top

 

.

7. How can I defer my bill?
1.) Log in to the ConnectCarolina Student Center.

2.) Look at the Finances Section and select Request Deferment from the drop down box.

3.) Click/check the box for Financial Aid Deferment AND the Statement of Understanding and then click submit.

4.) There will be a confirmation screen after you hit submit, click OK. You must request the deferment before the due date on the billing statement.

◦The new due date will be displayed in the Account Activity section of the Student Center.

◦Once the new due date is less than 30 days away, the balance will show as DUE NOW instead of FUTURE DUE.

Back to Top