Disbursing Financial Aid
The Office of Student Financial Aid and Enrollment Services begins disbursing federal and state aid just prior to the first day of class for each semester. Students must be enrolled for the required number of hours before aid will be disbursed. Remember, you must accept your financial aid awards online using ASAP at www.utsa.edu and have a complete financial aid file (see checklist) before funds will be disbursed to your student account.
Loans are disbursed in accordance with the guidelines governing the individual loan program and UTSA policy. Federal Stafford, PLUS, and Alternative loans will typically be disbursed at the start of each the fall and spring terms.
By choosing a lender from the web-based application process, your loan funds will be electronically applied to your student account. If the loan proceeds are greater than your university bill, the excess amount will be refunded to you by the Fiscal Services Office.
Perkins loans are electronically applied to your student account after entrance counseling is completed and a Master Promissory Note is signed and returned to the Office of Student Financial Aid.
B-on-Time loan funds are also electronically applied to your student account after receipt from the Texas Higher Education Coordinating Board. The Coordinating Board only releases loan funds after the student has completed and returned the B-on-Time Promissory Note to the Coordinating Board.
Designated Disbursement Date:
The earliest any funds will be disbursed to your student account is 10 days prior to the start of each semester. Funds will not be disbursed to your account until you have accepted your award and you have a complete financial aid file. We strongly recommend that you complete your file and submit all documents by July 1, 2008 (2008-2009 academic year) to ensure funds are available early. Funds are disbursed as follows:
- Federal PELL Grant - automatic disbursement begins 10 days prior the start of each semester.
- Federal SEOG Grant - automatic disbursement begins 10 days prior the start of each semester.
- TPEG Grants - automatic disbursement begins 10 days prior to the start of each semester.
- TEXAS Excellence/State Grants - automatic disbursement for the fall semester will begin after September 1st. Disbursement for the spring semester will begin 10 days prior to the start of each semester.
- TEXAS Grant Matching Funds - automatic disbursement begins on census date.
- Scholarships - automatic disbursement begins the first day of class or census date, depending on scholarship type.
- Student Loans - current students disbursement begins 10 days prior to the start of each semester. Entrance counseling must be complete before disbursements will be issued for student loans. The College Access Loans (CAL) will begin disbursement for the fall semester after September 1st. Loan funds are sent by Electronic Funds Transfer (EFT) from the lender in most cases. You will be notified once the funds have been disbursed to your student account. If your student loan funds are sent to UTSA by check, you will be notified to see fiscal services to pick up your check.
- Perkins Loan - automatic disbursement begins 10 days prior to the start of each semester if you have completed the promissory note and entrance counseling.
Availability of Refunds
All of the financial aid and scholarships listed above will be paid towards your tuition and fees and other education charges. Once your billed charges have been paid, a credit will be available on your account. Refund checks are cut and mailed or direct deposited the day after the credit occurs on your account. Please make sure that the address on Banner ASAP is current and correct (Banner ASAP). Fiscal Services will mail checks to your permanent address unless an alternative mailing address exist on your account.
Applying Financial Aid Funds to your UTSACard
If you have financial aid and scholarships that exceed your billed charges, you can apply up to $600 each semester to your UTSACard. Your file must be complete and you must have financial aid in excess of your billed charges in order to apply money to your UTSACard. You can begin applying financial aid to your UTSACard online approximately 30 days prior to the start of each semester. You simply log onto ASAP and select the following options in order: 'Student Services & Financial Aid', 'Fiscal Services', 'Add Money to Your UTSACard with Financial Aid/Loan'. You can then use the applied funds to purchase your books at the UTSA bookstore or any other place Rowdy Dollars are accepted.