Payment and Your Student Account: Refunds and Financial Aid Advances
- The date the balance occurred on the student’s account, if the balance occurred after the first day of class of a payment period, or
- The first day of classes of the payment period if the credit balance occurred on or before the first day of class of that payment period.
- If you have a refund or an advance in process, you will be notified through your SAIC email address.
- In exceptional situations, a “balance owed” may be created on your account if a financial aid advance or refund has been processed and adjustments are made to the award package at a later date, due to changes in enrollment and/or eligibility for aid. Payment arrangements for any balance owing should be made with the Office of Student Financial Services.
- You may be issued a refund earlier if you have a credit balance prior to the end of add/drop due to the disbursement of alternative or federal loans.
Financial Aid Advances
- Have completed the necessary steps to receive all financial aid funds (including loan funds if applicable)
- Have a financial aid award based upon the actual number of hours for which they are enrolled
- Do not have an outstanding balance from previous terms
- Submit their request after May 15 for the summer semester, after August 15 for the fall semester, after December 15 for the winter semester and after January 15 for the spring semester