How do I know how much financial aid I am getting? Your financial aid “package” is determined after you file a FAFSA, (www.fafsa.ed.gov) and we receive the electronic record from the Federal Department of Education. The final product, your financial aid award letter, will be sent to you by e-mail. Normally we begin sending award letters to new freshmen and transfer students by the first week in April, sooner if the new Federal regulatory changes are available to update our data system. For returning students, we generally must wait for Spring grades to be posted before preparing award letters.
When will I receive my financial aid? If you are registered for a full time class load and you have satisfied all outstanding financial aid requirements, all your aid should pay into your student account the following Tuesday after the first week of the start of Fall (and Spring) semester classes. Florida student aid will not pay if you haven’t registered for a minimum of 12 credit hours; Federal loans will pay with a half-time class load. If you are a returning student whose grades did not pass Beacon Satisfactory Academic Progress standards last semester, your appeal letter must be reviewed and approved before financial aid will pay into your student account.
Normally, Fall semester is when most problems occur because it is the first semester in the new FAFSA Aid Year, there are more students with requirements documents to review and there is always human procrastination prompting people to avoid addressing their requirements until the last minute. Take care of those requirements early and avoid the extra stress when classes begin.
Note: Even though financial aid was deposited in your account and has paid tuition, campus room and board, you will not have access to any remaining balance until after the second week of classes. The first week of each semester is the period when students can drop classes or withdraw and receive a full tuition refund. Consequently, you must plan for funds other than financial aid during that week to cover any expenses that are not charged directly to your student account.