left over financial aid money

<p>Hey guys! I will have about $1700 left over after I'm done paying for everything. How exactly does UVa transfer this money over to students? Is it by check? Also, when will they do this: right at payment or later on in the semester?</p>

<p>[U.Va&lt;/a&gt;. Financial Aid - Disbursement of Funds](<a href=“http://www.virginia.edu/financialaid/disbursement.php]U.Va”>http://www.virginia.edu/financialaid/disbursement.php)</p>

<p>The bottom of the page deals with excess funds/refunds.</p>

<p>I just got out of a meeting concerning this. </p>

<p>When you have left over money they will refund it to you by mail (they’ll send you a check or by direct deposit). They reccommend DD, so make sure you set up an account with the University!</p>

<p>You can expect your funds by August 16th and they’re supposed to last you for the entire Fall semester.</p>

<p>Good Luck!</p>

<p>coolpg, Where did you get the August 16 date? I only have a couple weeks left at my jobs and I won’t have enough money for September rent, I’m in a tight spot if I don’t have my financial aid refund in time :&lt;/p>

<p>Well I just attended a workshop on Wednesday about financial aid and they told us that we would receive all refunds on the 16th. Here’s an email I sent awhile back:</p>

<p>"Hello,</p>

<p>After looking at my cost of attendance on SIS I realized that my financial aid award completely covers all expenses. With this being the case, would I have to go through QuikPay@UVA to pay my dues (using the grants and scholarships I received) or will the University’s financial aid department handle it? Thank you for your assistance!</p>

<p>Sincerely,
coolpg"</p>

<p>They responded with:</p>

<p>"Dear coolpg,</p>

<p>Thank you for writing to us at Student Financial Services regarding your aid. Your aid will be automatically applied to your account and disbursed on August 16. Grants are automatically accepted in SIS. To initiate your loans you will need to accept them in SIS and then visit <a href=“http://www.studentloans.gov%5B/url%5D”>www.studentloans.gov</a> (for direct loans) or <a href=“http://www.mycampusloan.com%5B/url%5D”>www.mycampusloan.com</a> (for Perkins loans) to do your Master Promissory Note and Entrance Counseling. I would suggest you check your account on August 17 to determine if you have any amount due after the aid is applied. This will let you know if you need to make an individual payment.</p>

<p>Please let us know if we can be of further assistance, and thank you again from Student Financial Services."</p>

<p>I know that doesn’t directly answer your question, but the faid office also refunds us on that day! If you still have any questions, you could always email them directly. </p>

<p>When I was in the workshop the director of the faid office showed us where on SIS we could find the refund date, but I forgot it! Blek!</p>

<p>Good Luck</p>

<p>brishe, if rent is an issue, not that it’s a good idea of getting in the habit of using them, but students who have financial aid in excess of tuition can take an emergency loan of up to $500 due at the end of the following month. All you have to do is walk in the financial aid office and you can leave with a check ten minutes later. BIG WARNING: They do not deduct this from your financial aid when it disburses so you must remember to repay it when you get your money because owing money to the University leads to all kinds of problems with registration, records, and graduation.</p>

<p>Thanks for the information! Worst case scenario, my parents are always willing to help me out, but I’ve been supporting myself for a couple years so I’m in the habit. But that’s really great that they have that!</p>

<p>You can also get an Honor Loan from the Dean of Students, up to $600 (and you don’t have to have financial aid for this) – go to the second floor of Peabody for details</p>

<p>I still have not recieved my excess funds and I set up a direct deposit; should I contact financial aid office of just wait a few more days?</p>

<p>You just need to check your SIS and under Activity you will see when your refund is issued.</p>

<p>I e-mailed UVA’s Financial Aid Service about this earlier this week and this is their response:</p>

<p>Greetings from Student Financial Services,</p>

<p>Thank you for contacting Student Financial Services.</p>

<p>Please be advised the Direct Deposit takes around 2-3 weeks to be set-up.</p>

<p>The processing of refunds will begin around August 19th. If you have direct deposit set up with the University, your refund will be deposited into that account. If you did not set up direct deposit, the University will send the check to your current mailing address on SIS.</p>

<p>Direct deposit refunds are typically posted in 3-5 business days from the date you receive your notification of the refund. Paper checks typically take around 2 weeks to be processed.</p>

<p>Please contact us should you have further questions, and thank you again from Student Financial Services.</p>

<p>Sincerely,</p>

<p>UVA Student Financial Services</p>