The Financial Aid Office (FAO) is responsible for administering the financial aid programs, determining eligibility, awarding financial aid, and transferring/removing awards to/from the Billing/Receivables (B/R) system. The actual disbursement of financial aid to students is a function and responsibility of the Office of the Bursar. Financial aid is generally disbursed the week prior to the start of classes. You should arrive on campus with sufficient funds to purchase books, supplies, and any other items necessary to begin the semester, even if you are expecting financial aid or plan to work on campus.
The Office of the Bursar is responsible for the B/R system and notifying recipients of financial aid disbursements. Notification is provided within the prescribed 30 days before and after disbursement via the student's monthly Statement of Account. Notification includes the amount and date of the disbursement and the recipient's rights and procedures to cancel all or a portion of loans within 90 days of notification. Accounts Payable and the Office of the Bursar handle cash payments and check distribution to students.
Federal Direct Loans, Federal Perkins Loans, grants, scholarships and waivers are directly applied to the student's SIU Carbondale Statement of Account through B/R. These awards/loans are credited to B/R with a disbursement date (effective date) that is no earlier than 10 days prior to the beginning of the enrollment period. Refund checks are first produced beginning one week before the beginning of the enrollment period. Students who drop out/withdraw before the beginning of the enrollment period or who are determined to have never attended, have all their financial aid for the applicable semester removed and returned to the appropriate financial aid program(s).
Earnings from student employment are not credited directly to a student's University account. The payroll process generates a bi-weekly paycheck from information supplied by the employing departments, the Financial Aid office and Central Payroll and entered into the Human Resource Management System (HRMS). Student employees are encouraged to participate in Electronic Direct Deposit (EDD). However, student employees who are unable to participate in EDD will receive their paycheck by mail to the mailing address listed in the payroll system.
When is Aid Disbursed?
Aid disbursements begin one week before the first day of classes in an effort to distribute refunds directly in your bank account by the first day of classes. Further crediting of aid and subsequent refunds are generally processed weekly throughout the semester.
Loans cannot be disbursed until all required documents are received and processed by the Financial Aid Office. A valid Promissory Note (agreement to repay the loan) for the specific loan program must be on file. In addition, students borrowing a Federal Direct Loan and/or a Federal Perkins Loan for the first time at this campus must complete an online Entrance Counseling session.
How is Aid Disbursed?
Unless otherwise noted, all financial aid awarded by SIU Financial Aid Office is disbursed in two installments. One half of the total award is disbursed each semester and applied toward the charges on your SIU Carbondale Statement of Account (tuition and fees, University Housing charges, and/or other University charges.) Any transaction in which a financial aid credit exceeds the University charges for the term will generate a refund. To expedite the receipt of this refund, you should establish and maintain direct deposit to your personal checking or savings account.