Aid "Disbursement" to your Student Account
With the exception of Federal Work Study and some scholarships, financial aid processed by Averett's Financial Aid Office will automatically be disbursed to your student account, provided that your application is complete and you have met the requirements for each aid type.
Outside Scholarship checks received by the University will be directly applied to your student account (unless otherwise specified by the scholarship donor). Once the Financial Aid Office is notified of an outside scholarship, it will be listed as part of your aid package.
Prior to the beginning of the fall and spring semesters, any confirmed financial aid will be listed as an anticipated payment against your University charges. You will then be asked either to pay the balance of the charges or make payment arrangements.
If you are offered student loans, Averett will notify you if a student loan promissory note is required. The first semester you borrow a Federal Stafford Loan at Averett, you must completean entrance interview on line.
When the semester begins, your anticipated aid will be changed to disbursed aid on your student account, provided you are registered for the appropriate number of credit hours and have met individual program requirements. Financial Aid will be used to pay charges for tuition, fees, room and board for payment of other educational expenses such as, but not limited to books, supplies, etc. If disbursement of aid is more than enough to pay your student account charges, a refund can be processed in the amount of the credit balance from the Student Accounts Office following the start of classes.