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How Does Financial Aid Pay for My Classes at ������ɫ?

Several steps must be completed before financial aid is applied to your student account and able to help pay for your classes:

1. We must confirm your enrollment status and cost of attendance for the academic year or term, including any second half-term courses.
2. You must establish eligibility by attending all applicable classes within the first three weeks of the term.
3. As a federal student loan borrower, you must complete your Entrance Counseling and Master Promissory Note (MPN) forms at in order for us to disburse those funds.

The Timing of Your Financial Aid Disbursements 

Expect to see your financial aid in your account the week after the add/drop for each payment period:

• Summer 2024 disbursements begin the week of May 13.  
• Fall 2024 semester disbursements begin the week of September 2.
• Spring 2025 disbursements begin the week of January 20
• Summer 2025 disbursements begin the week of May 12.  

What to Know

• Financial aid awards are typically disbursed in two payments during the fall and spring semesters.
• Students attending only one semester will receive one disbursement during that term.
• Aid is first applied to outstanding balances, including tuition, fees, housing, and meal plans. Any remaining balance is refunded to you via check or direct deposit to be used toward other educational expenses.
• For students whose full-time or half-time enrollment is based, in part, on registration for one or more second half-term courses, federal and state aid disbursements may be delayed until the second half of the semester. If a course(s) is dropped prior to the start of the second half-term, awards may be reduced or canceled accordingly.

Reminder: Financial Aid Eligibility Requirements

• Only courses that count toward your degree program are eligible for financial aid. This includes courses that satisfy general education, major, minor, or elective requirements, as outlined in the academic catalog.
• You must be enrolled in at least 6 eligible credits (undergraduate) or 4.5 eligible credits (graduate) of eligible coursework to qualify for federal loans. Federal Pell Grants are adjusted based on eligible credits.
• For students pursuing double majors or minors, only courses that fulfill requirements for at least one of the declared programs are eligible for financial aid.
• You must actively participate in your courses. Non-attendance can result in aid recalculation and potential repayment.
• You must engage in academically-related activities, such as attending a class with direct interaction between instructor and student and submitting academic assignments. Activities that don't qualify as academically related include just logging into an online class (with no participation) or living in university housing.

Students reported for non-attendance may have their aid recalculated and could be required to repay a portion or all of the disbursed aid. Regular attendance and participation in all classes are crucial to maintaining financial aid eligibility.

Repeating Coursework? You Could Have Financial Aid Implications

Federal regulations limit the number of times a student may repeat a course and still receive federal financial-aid funding.

If You Receive a “Withdrawal” or “Fail” in a Course

• You’re allowed to repeat the same course and receive federal financial aid (in addition to meeting the office’s Satisfactory Academic Progress requirements) until a D– or higher grade is earned for the class.
• Once you've achieved this grade, you can repeat the same course a second time and still receive federal financial aid.

If You Choose to Repeat a Class a Third Time

• Once a D– or higher grade has been earned, and you’ve already repeated the same course a second time, the class cannot be factored into federal financial aid enrollment eligibility.
• This rule applies whether or not a student received federal financial aid in earlier enrollments of the course.

Please note for financial aid purposes that it’s irrelevant whether a student must retake a class to meet GPA requirements for their major/program or would like to simply to improve a grade. While our Financial Aid Office determines if aid can be applied to a repeated course, your academic advisor can help you decide if retaking a course is necessary for your academic goals.

FAQs

Can excess financial aid be used to purchase course materials at the ������ɫ bookstore?

Yes, you’ll receive a notification of your eligibility via your student email. Bookstore credit becomes available one week before the semester begins and expires after the add/drop period. Any purchases exceeding your credit limit or unrelated to required course materials must be paid for using an alternative payment method.

What payments are made directly to me?

• Federal Work-Study: Paid directly to you via direct deposit.
• Refunds and Overpayments:  If your financial aid exceeds your charges, the remaining credit balance may be refunded for living expenses. To receive your refund quickly, be sure to enroll in direct deposit through your student account portal in AMOS.

For questions or assistance, contact the ������ɫ Financial Aid Office at finaid@moravian.edu.