The SSL application, along with other documents as required, is returned to the Financial Aid office. The Financial Aid office completes the school portion of the application, certifying the student's enrollment, cost of education, available or expected resources, financial need, academic standing, and other items as required. The Financial Aid office mails the application to the lender. Students should consult the Financial Aid office for information about participating lenders and lender policies. This process allows the lender to directly deposit the loan proceeds into individual student accounts.
Tuition is paid no later than three days after funds are disbursed into student accounts.
The remaining amounts, per individual student directives, are held as credit in their accounts or disbursed as a refund to cover indirect educational expenses. Students have the option of receiving individual checks from the lender if the lender cannot accommodate the electronic certification process or the students require receipt of individual disbursements. Individual disbursements checks are mailed directly to the Financial Aid Office. Each student's enrollment and satisfactory academic progress status is checked. The Financial Aid office then authorizes the Business office to release the outstanding balance on the account to the student unless the student has opted for the Institute to hold the credit balance for budgeting in the next term.