Financial Aid Refunds

In general, once your financial aid award(s) has been finalized (all requested forms received, verification completed, enrollment verified, and default status reviewed), your semester award amount(s) (excluding Federal Stafford Loans and Federal College Work-Study) will be credited to your account beginning the second week of the semester. Federal Stafford Loans will also be credited to your account once loan proceeds have been received and all other eligibility criteria have been satisfied. Federal College Work-Study funds are disbursed bi-weekly to the student in the form of a payroll check based on the number of hours worked during the pay period.

Covering Direct/Indirect Costs
Financial aid which exceeds the amount the student owes to the University for direct costs will be disbursed to the student in the form of a refund check to cover non-institutional educational costs such as books & supplies, off-campus housing and transportation. These refunds will be available starting the second week of the semester if you have satisfied the eligibility requirements for each award.

Please Note: Even though refund checks will be available starting the second week of the semester, your student financial aid refund check could be delayed if you meet one or more of the following: your federal and/or state aid has not been finalized, your Master Promissory Note (MPN) was filed late, and/or your MPN or "Free Application for Federal Student Aid” (FAFSA) is delayed at AES/PHEAA and/or federal processor due to missing or incorrect information.

Revisions, Cancellations, and Payments
California University reserves the right to review, revise or cancel a financial aid award at any time due to:

1. a change in your enrollment status at California University and/or a change in your financial aid eligibility;
2. failure to comply with policies, procedures, or laws pertaining to these programs; and
3. the availability of federal, state, and University funds for each program. You will be notified of any revision and/or cancellation. Students who fail to meet the financial aid requirements may be required to repay all or a portion of the assistance used during any affected semester(s).

The Return of Title IV Federal Aid and University Refund Policies will provide you with additional information regarding the policies for students who withdrawal from the University.