<p>When do you receive excess aid? Is it the same as with aid that is applied towards your tuition? (Quarterly) Or could you get your excess aid monthly to pay for rent if living off campus?</p>
<p>It varies. In our experience with a semester system, the semesters (so 1/2 the year) aid is credited to the bursars account. Any charges (tuition/fees/books etc) are charged to the account. After the add/drop period (2 weeks at my daughter’s school) any excess is paid by check to my daughter and she uses it toward her rent & bills for the rest of the semester. She usually gets the refund about the 3rd week. She does have one state grant whose rules do not allow it to be credited to her bursars account until the week after the add/drop period, so she gets the check for that later. I think it is a month later as they just send bills and refunds monthly as far as I recall, but am not sure. </p>
<p>At my son’s school it is the same except they don’t usually pay the excess until a little later - the 5th or 6th week.</p>
<p>What do you mean by “add/drop period”?</p>
<p>Add/drop period means the time where you can add/drop classes. In the financial aid context, it usually means you can add/drop classes without having your financial aid affected.</p>
<p>But still, different schools have different policies. So make sure you check with your school.</p>
<p>A lot of schools have a period, usually of @ 1-2 weeks after the semester starts, where you can drop a class without if appearing on your transcript and without having to pay for it. So if you start a class and for some reason realize it is not for you you can drop it in the add/drop period. You can also add a class in that period. In our experience (I am sure schools vary) excess aid is not usually paid out before this end of this period as the school does not know for sure how many credit hours you will be signed up for. Once the add/drop period is past there generally is no refund of tuition paid and the class, if dropped, will generally appear on the transcript (possibly as a W for withdrawal, but again depending on the school).</p>
<p>This is from the college’s website:</p>
<p>Debts owed to the University, including fees or housing payments, are deducted directly from payments of financial aid. Remaining funds are then disbursed to the student by the Student Accounts Office. If your financial aid is more than your debt to the University, a check will be prepared and mailed to you at the address listed with the Student Accounts Office (if you have signed up for direct deposit, your aid will be deposited to your checking account) on or around the first day of classes each quarter. If your financial aid does not cover all your debt with the University, you will be expected to immediately pay the remaining balance.</p>
<p>As I said - it varies by each school, so i can only tell you from our experience. Your school sounds like they pay the check a bit quicker than my daughter’s school, and a lot quicker than my son’s. I wonder if they have an add/drop period? Also we do not have to pay any outstanding balance (if there is one) until the 15th of the subsequent month so they give us almost a month from the day class starts to pay. Everyone has to check with their own school for their policies. There seem to be almost as many policies as there are schools.</p>
<p>Is the State Grant Aid your daughter receives part of her excess aid?</p>