1. As a financial aid student, you will receive a statement from the Business Office listing tuition and fee charges, estimated financial aid applied, and the balance that you owe.
  
2. For those aid programs allowing purchase of books and necessary supplies, you may use any remaining funds by authorizing the crediting of books and supplies at the Edison Bookstore. Your total charges may not exceed the semester’s amount of aid. Book charges to a financial aid account may not be made until ten days before classes begin. All charges must be made within the Bookstore’s charging period.
  
3. For those aid programs, which allow living expenses, the difference between the semester award and the total charges will be issued to the student. The Pell Grant living expense check will be based upon the number of credit hours being taken at the end of the third week of the semester, which is the Pell “lock in” date. If you apply by the priority deadline and are determined eligible, the Business Office will mail this check to you by the end of the 9th week of the semester. If you apply late and are determined eligible, you will receive your check at the end of the 14th week of the semester, or you will receive a retroactive payment in the subsequent semester based upon credit hours successfully completed.
  
4. Student loan checks are mailed by the lender to the Student Financial Aid Office on the date noted on the borrower’s disclosure statement (approximately 30 days into the semester for first-year/first-time borrowers and 15 days into the semester for other borrowers). Prior to releasing checks, the Student Financial Aid Office must verify that there have been no changes in enrollment or aid awarded since initial determination of loan eligibility. Any changes or lack of attendance may result in the borrower becoming ineligible and the check being returned. If a student’s 6 credit hour loan eligibility rests on late-start classes, the check disbursement date will fall after the 100% refund period of the late-start classes. If you owe for tuition, books or supplies, you may pay what is owed and the loan check will be turned over to you. Or you may endorse the loan check so that the amount owed can be deducted, in which case a refund check will be mailed to you within 14 days.