<p>If I am getting $1,000 in excess financial aid and the disbursement date is September 14, does that mean I will get all of that money on that exact date?</p>
<p>Not usually. It will take several days to process and cut a check (or deposit into your account if you have direct deposit). If you are getting a check there is also a chance your bank will hold the funds for a while. Wells Fargo once held my Fin Aid for 11 days before I started direct deposit into my credit union.</p>
<p>I meant do you get all of the money at once?</p>
<p>Okay, I’m assuming you are talking about federal aid and on a semester system. This is how it works at my school:</p>
<p>If the $1000 extra is for the whole year then you would get a $500 disbursement on September 14, and another $500 in the spring. If the $1000 is what is in excess for the fall, and you are going to be there in the spring as well (i.e. you have $1000 for fall and also some disbursement for spring), then you will probably get the full disbursement on September 14. If you are only enrolled for Fall, then you will get $500 on September 14 and another $500 later in the semester.</p>
<p>For the Fall Quarter I will have $1000+ financial aid in excess. Ok so I will receive all of the money at once.</p>
<p>Check with your school. They all seem to have different methods. For instance my daughter has one state grant that is not disbursed until the add/drop period has passed. Her initial refund came before the State grant was disbursed to her so that $500 was not in her initial check but came some time later. My son did not actually know he was awarded that grant last semester and it also was disbursed later at his school. As he was unaware he even had that grant he did not go and get the check (her school pays it into your bank account, his you have to go get a check) and it was mailed to him after the semester was over. A pleasant surprise. His school also waits longer to disburse federal loans than hers does (I think because they have a higher % that drop out). </p>
<p>So every school varies. Check with your own school to be sure, especially if you need to know when the $$ is arriving to pay for other expenses.</p>
<p>Remember, too, that work study is not paid to you up front. You earn it in a paycheck if you get a work study job (not “given” to you - you need to get it).</p>