Payment of Financial Aid Awards - Financial Aid Guide

Bills are generated by and paid at the Student Accounts Office. If you have been awarded financial aid prior to the receipt of your college bill, anticipated aid will appear on your student account bill. If your financial aid does not appear on your Student Account Statement you can indicate anticipated aid on the back of your bill with the following exceptions:

1. Federal Work Study — cannot be applied to the bill because there is no guarantee that you will earn the entire award.

2. Federal Direct Loans — you must complete a Master Promissory Note (and Direct Loan Entrance Counseling if you are a first time Direct Loan borrower at BSU) before any loan award can be deducted from your bill.

3. Fees will be deducted from your loan. See the Direct Loan website for current fees.

Write the amount of all aid received on the back of your bill to reduce the amount you owe. If you have been awarded more aid than required to cover your bill, you will be refunded this amount by the Student Accounts Office, and it can be used to meet other educational expenses. Excess funds on your account are usually not available until after the drop/add period.

Students who are receiving enough aid to cover billed expenses, and who are expecting a refund of excess cash may request a book voucher from the Student Accounts Office at the beginning of each semester.

If you withdraw from the university during the semester, you may not be eligible for your entire financial aid award. (See the “Refund Policy” section.)

Last Modified: December 8, 2011