Disbursements and Payments

The Shiloh University Financial Aid Office (SU FAO) determines student eligibility for financial aid based on their FAFSA information, their financial need, and their course registration. After eligibility is determined, the SU FAO produces an award notification, which the student reviews and agrees to.

After an award notification is accepted by the student, the University Billing Office is responsible for disbursing financial aid, producing monthly University account statements, and collecting payments.

Prior trimester tuition charges must be paid before students can register for successive trimesters and before financial aid funds can be released. Refer to the information below for more information or explore our frequently asked questions page.

Disbursements

After an award notification is accepted by the student, the University Billing Office begins the aid disbursement process. First, an estimate of your approved federal financial aid, as well as trimester tuition and fees, will be disclosed to the student via their monthly account statement. Any scholarships or grants received will also be reflected on the account statement. Note that if part of your aid includes scholarships and grants, they will be used before any loans to pay for tuition and fees.

Account statements are generated within 3 working days of the first of the month. Tuition for the fall trimester is billed in August, spring trimester in December, and summer trimester in April.

During the first week of classes, the University will receive the federal student aid and credit it to the student’s account. After federal student aid and/or scholarship funds have been applied to a student’s tuition and fees, all excess funds will be paid out to the student to the student/parent via their preferred method.

If financial aid does not cover any educational charges in full, the net amount will be due to the University from the student. Educational charges include tuition, library fees, and course materials. Any charges that fall outside the federal definition of educational charges will not be withheld from the student’s federal loan funds.

If you have questions on how financial aid funds were applied to your account statement or when you will receive a financial aid refund, contact the University Billing Office.

Excess Funds Disbursement — Direct Deposit

The University’s preferred excess funds disbursement method is by direct deposit. Students or parents wishing to have excess funds deposited to the financial institution account of their choice will need to complete and return the appropriate deposit authorization form:

Private Scholarship Funds

Students receiving privately funded scholarships (e.g. Rotary Foundation, local hometown organizations, etc.) will need to work closely with the University Financial Aid Office to assure that funds are used properly. It is important that any requirements or expectations set by the private scholarship donor or organization are met in a timely manner. Scholarship funds received will also have an impact on student financial need calculations.

Unless otherwise stipulated by the scholarship donor, scholarship funds will be disbursed (during the award year indicated on the scholarship notification) in three even amounts corresponding to the Fall, Spring, and Summer trimesters. Scholarship funds will first be applied to educational expenses (tuition and fees) and any excess funds then paid to the student.

At the time of initial application of the scholarship funds, the University Financial Aid office will verify that the student has enrolled for the number of credit hours required by the donor (as indicated on the Scholarship Check Submission form referenced below). After initial scholarship eligibility criteria is confirmed, it is the responsibility of the donor to verify continued enrollment. If a student withdraws from the University or reduces their enrollment credit hours after scholarship funds have been credited and/or disbursed, the donor is responsible for recovering any unearned funds.

Submitting Scholarship Checks

All scholarship checks must be submitted with a Scholarship Check Submission form to ensure proper and timely processing. After receipt of this form, the donor will be sent the University’s private donor scholarship letter which outlines our policy on processing and disbursing private donor scholarship funds.

If the scholarship donor requires a copy of the student’s financial account statement or verification of enrollment, students are encouraged to share the relevant official documentation with the donor. If a donor requires independent verification, they are encouraged to contact the Financial Aid Office at financial-aid@shilohuniversity.edu.

Payments

The University Billing Office is the centralized billing and collection point for student accounts. On a monthly basis, all financial activity for the previous month including any amount due, is disclosed to the student via an account statement. Account statements are generated within 3 working days of the first of the month. Tuition for the Fall trimester is billed in August, Spring trimester in December, and Summer trimester in April.

In addition to stating tuition and fee charges, account statements will include an estimate of your approved financial aid that is being credited to the tuition and fee charges on your account. If part of your aid includes scholarships and grants, they will be used before any loans to pay for tuition and fees.

If financial aid does not cover any educational charges in full, the net amount will be due to the University from the student. Payment is due in full by the date specified on your account statement. You are obligated to pay your full balance by the due date regardless of delay, reduction, or cancellation of financial aid. Students will not be allowed to register for successive trimesters until their current term tuition has been paid in full.

Acceptable payment options include check or credit card (via the University’s secure payment terminal available within the online classroom).

Return of Federal Student Aid Funds

For current financial aid recipients, dropping or withdrawing from a course may require that a portion of Title IV aid received be returned to the Federal Student Aid Department. The University Financial Aid Office determines the return of Title IV funds percentage based on the official last date of attendance (either the date a student formally withdraws, or the date determined per the University’s unofficial withdrawal policy).

Institutions are required to determine the percentage of Title IV financial aid “earned” by the student and to return the unearned portion to the appropriate aid program. This calculation is done according to the Return of Federal Student Aid Funds Process described below. This same percentage is also used to calculate the return of unearned institutional scholarship dollars. If the contracted charges are adjusted downward by the Registrar’s Office after the withdrawal was finalized, any credit balance will go towards the student’s University bill or be refunded directly to the student.

A loan repayment grace period for Federal Unsubsidized and Subsidized Stafford Loans will begin on the day of the student’s withdrawal from the University. Students should contact their lender if they have questions regarding their grace period or repayment status.

Return of Federal Student Aid Funds Process

The return of financial aid funds policy follows these steps:

1

Determine the percentage of the enrollment period completed by the student.

If the calculated percentage is equal to or greater than 60%, the student has “earned” all aid for the enrollment period and no adjustment in financial aid occurs. E.g. if the student attended classes through at least day seven of week nine, they “earned” all aid.

Days Attended ÷ Days in Enrollment Period = Percentage Completed

2

Apply the percentage completed to the Title IV aid awarded to determine the student’s eligibility for financial aid prior to the withdrawal.

Total Aid Disbursed × Percentage Completed = Earned Aid

3

Determine the amount of unearned financial aid to be returned to the appropriate Title IV financial aid program.

  • If the aid already disbursed equals the earned aid, no further action is required.
  • If the aid already disbursed is less than the earned aid, a late disbursement will be made to the student.
  • If the aid already disbursed is greater than the earned aid, the difference must be returned to the appropriate Title IV aid program.
4

Distribute the responsibility to return funds between the institution and the student.

The return of federal financial aid is based on the type of financial aid disbursed and occurs in the following order:

  • Direct Unsubsidized Stafford Loan
  • Direct (Subsidized) Stafford Loan
  • Direct Graduate PLUS Loan (for graduate students)
  • Direct PLUS Loan (for parents of undergraduate students)
  • Pell Grant

If the type of financial aid the student is responsible for returning is a loan, the student is not required to immediately repay the amount since the grace period for the loan (generally 6 months) is invoked. Occasionally, a loan must be fully cancelled and the loan amount will appear on the student’s account statement.

If the type of financial aid the student is responsible for returning is a grant, the student will incur a charge on their account statement. Federal return of funds regulations require that the student only repay one half of the grant amount that is unearned. Any refund or repayment obligation will be clearly outlined for the student in writing and will also appear as a charge on the account statement.

 

Return of Military Tuition Assistance (TA) Funds

For current TA fund recipients, dropping or withdrawing from a course may require that a portion of TA funding aid received be returned to the government. The University Financial Aid Office determines the return of TA funds percentage based on the official last date of attendance (either the date a student formally withdraws, or the date determined per the University’s unofficial withdrawal policy). If the calculated percentage is greater than 60% the student has “earned” all aid for the enrollment period and no adjustment in financial aid occurs. E.g. if the student attended classes through at least day one of week ten, they “earned” all aid.

Return of TA funds table:

  • Before trimester start – 100%
  • Week 1 of Trimester – 80%
  • Week 2 of Trimester – 70%
  • Week 3 of Trimester – 60%
  • Week 4 of Trimester – 50%
  • Week 5 of Trimester – 40%
  • Week 6 of Trimester – 30%
  • Week 7 of Trimester – 20%
  • Week 8 of Trimester – 15%
  • Week 9 of Trimester – 10%
  • Week 10-15 of Trimester – 0%

The University will return the unearned aid to the applicable military branch. The student will then incur a charge on their account in that amount. Any refund or repayment obligation will also be clearly outlined for the student in writing. If the student stops attending due to a military service obligation, the University will work with the student to identify potential solutions for the paying for the returned portion.

Any portion of funds paid by the student will be refunded to the student according to the refund policy.

 

Return of University Scholarship Funds

For current scholarship fund recipients, dropping or withdrawing from a course may require that a portion of scholarship funds received be returned to the University. The University Financial Aid Office determines the return of scholarship funds percentage based on the official last date of attendance (either the date a student formally withdraws, or the date determined per the University’s unofficial withdrawal policy). If the calculated percentage is greater than 60% the student has “earned” all scholarship funds for the enrollment period and no adjustment in scholarship aid occurs. E.g. if the student attended classes through at least day seven of week nine, they “earned” all scholarship funds.

Return of scholarship funds table:

  • Before trimester start – 100%
  • Week 1 of Trimester – 80%
  • Week 2 of Trimester – 70%
  • Week 3 of Trimester – 60%
  • Week 4 of Trimester – 50%
  • Week 5 of Trimester – 40%
  • Week 6 of Trimester – 30%
  • Week 7 of Trimester – 20%
  • Week 8 of Trimester – 15%
  • Week 9 of Trimester – 10%
  • Week 10-15 of Trimester – 0%

The student will incur a charge on their account statement in the amount to be returned. Any repayment obligation will be clearly outlined for the student in writing and will also appear as a charge on the account statement. If a student re-establishes scholarship eligibility in a successive trimester, that award amount may be applied to the overdue balance in addition to educational charges for that trimester.

Any portion of funds paid by the student will be refunded to the student according to the refund policy.