Associate Registrar Lora Volden answers, 'Where's my money?'

Things are hopping at the UC, helped a great deal by the fact that unbeknownst to us they began construction on our sidewalks again.  It may be faster, easier, and safer to park in the front parking lot (across from Lazy Boy & Peppercinis) and walk through the mall to get to us.

Most of the individuals coming in have questions regarding financial aid.  We have found that almost all questions can be answered through the fabulous financial aid website. Check out the FAQ link at the bottom of the page.  Below are the three biggest questions that we have seen over the past couple days:

My financial aid is more than my tuition bill, what happens to the extra money?
If the total of your financial aid (grants, scholarships, loans, etc.) is greater than the amount of your bill, you will receive a refund.  You may enroll to have your refunds sent to your bank account by setting up a direct deposit via UAOnline.  If you do not set up direct deposit, a refund check will be mailed to the address you have on file with UAA.  It is therefore very important to update your address via UAOnline if and when you move.

Just like excess financial aid can not sit in a student's account for use in a future semester, excess financial aid can not typically be used to pay for previous balances, per Federal Regulations, unless that balance occurs within the same award year.  If you owe an outstanding balance, contact the Office of Student Financial Assistance for the best advice on available options.

How do I know if my refund has been direct deposited?
You can check to see if your financial aid refund has been directly deposited via UAOnline.  To do so:
    •    Login to the secure side of UAOnline.
    •    Select the "Personal Information" Tab.  S
    •    Select "Financial Information"
    •    Select "Direct Deposit Services"
    •    Select "Review your direct deposits"
    •    Select the fiscal year from the drop down menu that you wish to view and then hit "Display"
    •    Each direct deposit that has been applied to your bank account will be listed.  The "Process Date" is the date the money was deposited.

Where's my refund? I was told my financial aid would disburse today but I don't have my check/direct deposit.
First of all, the disbursement date for financial aid is the date that UAA can request the money and apply it to your student account.  It is not the day that you should expect to receive a refund.  The earliest UAA can legally request a disbursement of your financial aid is ten days before the start of each semester.  UAA then has to process your financial aid and request a paper check be mailed or direct deposit be issued to your bank (if you've set up a direct deposit).  This processing generally takes between 5 and 7 business days.  Therefore, if you are confident your financial aid is in order before the scheduled and published disbursement date (ex. you have no outstanding paperwork to be completed, you are admitted, in good SAP, etc.), you should expect to see your refund NO EARLIER than the first day of class.