How and When Financial Aid is Disbursed

The process of posting financial aid typically begins after the first week of classes for Session One, Session Four and Session Seven. Session Seven (Summer semester) begins the award year.   Financial aid is paid only after enrollment is verified.  If the enrollment status has changed, the disbursement of financial aid may be delayed.  For example, if your award is based on full-time enrollment (12 hours for undergraduates and 9 hours for graduates) and you are enrolled part-time, your aid may be delayed.   ANY change in enrollment MAY affect financial aid.   Please contact your financial aid counselor immediately if your enrollment status changes.

Most financial aid awards credit the student’s account.  These awards include, but are not limited to funds from the following sources:  Federal Pell Grant, Federal Supplemental Education Opportunity Grant (FSEOG),  College Access Program (CAP), Kentucky Tuition Grant (KTG), Kentucky Educational Excellence Scholarship (KEES), TEACH Grant, Spalding University scholarships, Perkins and Nursing loans, Federal Direct PLUS Loans, and Federal Direct Stafford Loans.  You will receive a financial aid award letter detailing what you have been awarded for the academic year.  You have 14 days to sign and return the award letter.  Award letters not returned within 14 days are considered accepted.  If you are a new Federal Direct Stafford loan borrower you are required to complete an Entrance Counseling Session and sign your Master Promissory note.  If you have been awarded a Perkins loan or a Nursing loan you will receive instructions as to when and where to complete the process for receiving those funds.

Some financial aid awards do not credit to student accounts.  Federal work study awards are paid directly to the student.

Any financial aid resulting in a credit balance will be mailed to you by the Bursar within 14 days.

You must file a FAFSA (Free Application for Federal Student Aid) each year.  Please file as soon as possible after Janyary 1st to ensure maximum financial aid eligibility.  Also remember to check renewable scholarship deadline dates if applicable.