Recently the WKU Office of Student Financial Assistance sent email notification to students who have applied for Federal Financial Aid regarding Important Change Regarding Disbursement of Federal and State Grants and Loans.
What is changing?
Beginning Spring 2016, disbursement of federal and state grants and loans will be delayed until after the 100% drop add period. This change also impacts disbursement of Parent Loans.
For Spring 2016, the first set of residuals (for students with credit balances after disbursement of federal and state grants and loans) should be available by February 12th. Please note this is applicable to students eligible for federal and/or state grants and loans whose financial aid packages are complete and ready for disbursement at that time. Disbursement and residuals will be processed on a weekly basis thereafter for late awards and/or adjustments.
What can you do to prepare for this change?
Federal and state grants and loans are available to assist students with the cost of attending college. Prior to disbursement, the anticipated award amounts will be reflected on the student’s account and reduce the total amount due for tuition and fees, on-campus housing and meal plans, books, or any other charges that exist. Any amount not otherwise covered by aid will be due according to the due date indicated on the student’s bill.
Students anticipating a refund from federal and state grants and loans should plan to have enough money for initial expenses for the first three weeks of the semester, or until their aid is processed. Our suggestion is to reserve a portion of your Fall 2015 refund to help cover expenses until your Spring 2016 refund arrives.
Students living off campus and in need of official confirmation (for their landlord) of when residual funds will be available can request such by emailing firstname.lastname@example.org.