How long does it take for funds to post to my student account?By : Kim Murphy | January 14, 2020
Once the federal student aid (FSA) award process is complete, your FSA disbursements will be scheduled.
Generally, your FSA funds will be disbursed in two installments during your academic year and/or loan period. When awarded, these funds will typically be scheduled to disburse in two separate and substantially equal payments. If you are at the end of your program, your awards may be handled differently.
“Disbursed” means the University has credited FSA funds to your student account to pay allowable charges for the academic year. Allowable charges at University of Phoenix include tuition and electronic course materials fees.
You are eligible to receive your first disbursement of FSA when the University confirms you are enrolled in courses for the payment period and are eligible to receive the funds. You become eligible to receive an FSA disbursement for the second payment period when you successfully complete one-half the weeks of instructional time AND one-half the credit hours in the defined academic year (AY).
Changing your schedule, dropping courses or failing courses could affect the timing of and/or your eligibility for the second disbursement.
Before FSA funds are disbursed, the University will determine and document your continued eligibility for funds. The eligibility requirements include, but are not limited to, enrollment in classes, posting of attendance, and meeting satisfactory academic progress (SAP).
Typically, funds will disburse to your student account within three business days of the scheduled release date. Delays can happen, however, if eligibility issues arise. The Financial Services department will work to resolve any delays as quickly as possible.
If you change your course schedule, break attendance, fail to attend classes as scheduled or fail to meet SAP, disbursement dates may change, and funds could be canceled.
If you have questions, please contact Financial Services at firstname.lastname@example.org or 888-346-8679. I can also be reached at email@example.com.