Ohio Administrative Code › Title 3341 - Bowling Green State University › Chapter 3341-3 - Graduate and Under-Graduate Policies › Section 3341-3-39 - Disbursement of student financial aid- undergraduate

Current through
			 all regulations passed and filed through July 1, 2024
(A)
								Policy statement
			 and purpose
This is a policy about financial aid
				disbursement. Student financial aid
http://www.bgsu.edu/admissions/scholarships-and-financial-aid.html
(B)
								Policy
With the exception of federal work
				study, some departmental scholarships and all outside scholarships, financial
				aid processed by student financial aid (SFA) will automatically be disbursed to
				students' bursar accounts, provided that their application is complete and they
				have met the requirements for each aid type. Title IV funds can be disbursed up
				to ten days prior to the first day of classes for a term. The student is
				awarded aid for the entire academic year; however, the aid is disbursed
				proportionately each term.
Prior to the beginning of the term, any
				confirmed financial aid for that term will be listed as anticipated aid
				(estimated payment) against a student's university charges. The student will
				then be asked either to pay the balance of the charges or make payment
				arrangements. Information about BGSU's installment payment plan and other
				payment arrangements will be included with the bursar statement.
If a student is offered student loans,
				both a master promissory note and entrance counseling must be completed online
				at studentLoans.gov. Private scholarship checks received by the university will
				be directly applied to the student's bursar account (unless otherwise specified
				by the scholarship donor). Once SFA is notified of a private scholarship, it
				will be listed as part of the student's aid package.
When the semester begins, anticipated
				aid will be changed to disbursed aid on the bursar account, provided the
				student is registered for the appropriate number of credit hours and has met
				individual program requirements. Federal financial aid will first be used to
				pay university housing and meals, instructional, general, and non-resident
				fees, and special course fees. Some forms of aid, especially federal student
				aid, are restricted as to what portion of the bill they can pay. Allowable
				charges for federal aid include, for example, the instructional and general
				fees. Other miscellaneous charges, such as the legal fee or parking fee may not
				be covered. We encourage students to review their bills regularly, and contact
				the office of the bursar with any questions.
If the student's aid exceeds the direct
				costs billed by the university, the difference is refunded to the student to
				assist with other educational expenses such as books, supplies, transportation,
				etc. The office of the bursar issues the refund within fourteen days unless
				there is a signed agreement on file to hold excess aid for a future session
				billing.
Additional information can be found
				at
http://www.bgsu.edu/admissions/scholarships-and-financial-aid.html
Date: February 2nd, 2015