Aid Disbursements and Refunds
Disbursement of Aid
Federal grants, loans, and institutional grants and scholarships are posted directly to students’ ledger accounts at WCU. Award amounts are generally disbursed equally over all payment periods in an academic year, with disbursements scheduled for the 1st week of each semester or trimester. (Note that undergraduate semesters are made up of two ten-week modules or terms, and for these programs, federal , state, and institutional grants and loans will be disbursed during the first week of each twenty-week semester in which the student qualifies for aid).
All awards are reviewed for accuracy prior to disbursement. Disbursement of aid will be delayed if the student’s financial aid file is incomplete, has unresolved conflicting eligibility data, or if the student’s attendance in class has not been appropriately documented.
Federal Work Study wages are paid bi-weekly directly to students based on hours worked and are not deducted from the student’s tuition bill.
California state grants are disbursed onto student accounts as funds are approved by the California Student Aid Commission and received by the school.
Chapter 31 and Chapter 33 veteran’s education benefits are paid directly to the University by Veteran’s Administration based on enrollment certifications processed by the campus Financial Aid Office each term.
Financial Aid Credit Balance Refunds
Financial aid awards are applied first to tuition, fees, required supplies, and any books purchased using an MBS voucher. If the total of federal funds exceed charges for the term, a refund check will be sent to your, (or your parent's, in the case of a parent PLUS loan) official mailing address, unless you have provided written authorization for WCU to retain the funds for your next term. WCU provides an Authorization to Retain Funds form that can be used to communicate this preference. Authorizations may be granted or rescinded at any time during your program by completing a new form or otherwise providing written instructions to the Financial Aid Office.
Credit balance refunds due from an excess of aid will not be processed until charges are posted at the end of the second week of the term, and sufficient aid awards have been applied to create a credit balance. Students expecting a refund check to cover living expenses should have at least one month’s worth of living expenses available prior to the start of classes to cover expenses until the refund check arrives by mail.
Right to Cancel Federal Loans
Student and parent borrowers have the right to cancel the entire loan or any portion (a specific disbursement) of any federal direct loan. Requests to cancel a specific loan disbursement may be submitted prior to the date of crediting to your account or within 14 days from the date you receive official notification from WCU that loan funds have credited to your account. Official notification will be posted to the student’s secure online student portal, or in the case of a parent loan, mailed directly to the parent’s address.
To request cancellation of a loan disbursement, please contact the Financial Aid Office. No interest will be charged and loan fees will be returned to the loan holder.
Repayment AFTER the Designated Time Period
You cannot cancel your loan disbursement if the designated time period described above has already passed. Instead, you can repay the loan disbursement directly by contacting the loan holder. The borrower will be responsible for any interest that may have accrued and/or any loan fees.