My college has a 2 week drop/add period where students may or may not enter all of their classes. After that period when course load has been identified, grants are pulled. Loans are pulled on day 1 for continuing students, day 31 for first year, first time borrowers. All disbursements are checked for eligibility to ensure that students became at least half time students. Having a process to receive funds timely and confirm eligiblity has helped my college avoid findings and get students their funds.
I know at our school they have a process in place and no pre pull. How long should it take from the point the loans are certified for COD to reflect pending and then disbursed then how long from that point for it to hit the account?
Also I am running into a lot of students from other colleges that have pending disbursements in COD. What is the process a school should take and the timeline when a student graduates or withdrawals? How should one go about getting the disbursements cancelled so they may enroll with another campus?
We wait 30 days on all programs to allow a trail period.
Are all of your disbursements held for 30 days or only your first time borrowers? What about the disbursement of your Federal Pell Grants or Campus Based Funding? Do you delay all funds in order for a trial period of enrollment? The answer is so brief that it is difficult to tell why your campus delays the student funding.
Some additional comments would be beneficial to the discussion process.
Sincerely,
Chyrl
30 days after the school year start
Kim,
Based on your answer to the FA Disbursement process at your campus it appears you have a schedule to insure the timely and accurate delivery of FA to your studnets. It is important to have a schedule for evaluation of the students' eligibility.
Sincerely. Chyrl Ayers
Pell grant should be requested 1 week after they begin classes and Direct Loans 30 days after their first day is when you should request those funds.
