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The Ohio State University
Financial aid funds must be used first to pay university tuition and fees and then to pay health insurance, university housing, and other institutional educational expenses. Before the start of each term, your university Statement of Account will be available on your Student Center, accessible via Buckeye Link. Your online statement will show instructional and general fees, health insurance, room and board, and other appropriate charges. Any aid for which you are eligible will not initially appear on the Statement of Account, but will be reflected under "Pending Financial Aid." Beginning ten days prior to the first day of each term, your financial aid will be reflected as credits on your Statement of Account. All fees, including penalties, must be paid according to the deadline indicated on your Statement of Account.
Athletes: Due to NCAA regulations, there are additional procedures for disbursement of certain types of aid and the release of credit balances. Please contact the Office of Athletic Aid for more information.
Please be aware that you must fulfill certain criteria of enrollment status and eligibility to receive your financial aid funds. Your eligibility is monitored on an ongoing basis throughout the term. Aid which was initially credited to your Statement of Account for which you cease to be eligible will be withdrawn. Eligibility checks include incomplete verification (see Verification), hours of enrollment, Suspension Status (see SAP), and being in default or owing a refund to a financial aid program (see Eligibility Criteria).
If you are ineligible for any of the aid originally credited to your account, you will be responsible to pay those charges which were covered by that aid on your original Statement of Account.
If your financial aid award appears on your Statement of Account and all else remains the same, it will credit toward your charges. Any overage, a credit balance, will be directed to you for other educational expenses including off-campus housing (see Credit Balances below). Federal regulations state that Title IV federal financial aid funds cannot be disbursed to you until ten days prior to the start of classes each term. The Office of the Bursar sends credit balances via direct deposit or check only after the tenth day prior to the first day of the term; therefore, you may not receive those funds until five to seven days prior to the start of the term.
Credit balances (credits which exceed the charges on your account) can be made available to you in the following ways:
If SFA determines that you are no longer eligible to receive aid that has already been disbursed to you, you may be asked to repay it. This is a result of the continuous, ongoing eligibility and reconciliation checks that SFA performs for all aid programs to ensure that funds are going only to students eligible to receive them. If necessary, a recovery of disbursed funds from you will take one of the following forms:
Please periodically check your statement of account to ensure any balance that may be created due to an enrollment change or loss of eligibility does not remain unpaid. If you have questions regarding your eligibility for financial aid, please contact the Student Service Center.
If you attend Summer Semester First Session only or Summer Semester Second Session only, your session only includes seven weeks. Since living expenses, based on standard allowances determined by the SFA, can only be included for your period of attendance attendance, your financial aid may be adjusted accordingly.
There are a number of co-op courses at Ohio State for which you can pay a nominal fee to be considered enrolled and at a fee-paid status with zero hours of enrollment. This arrangement allows Ohio State to report you as "enrolled" to the loan servicer so that you do not enter the grace period for your loans. It also allows you to remain eligible for coverage under health insurance programs.
You are not eligible for financial aid for the terms in which you co-op. Any financial aid which has been awarded to you for a co-op term will not apply to your university account, and you will not be able to receive any credit balance from your account. The SFA will recalculate your financial aid eligibility, if necessary, based on your reduced number of terms of enrollment. If you receive departmental funds, contact your college or department to see if re-distribution of the award is allowed.
Co-op terms during which you are not enrolled for additional hours for credit will not affect your standing under the Satisfactory Academic Progress (SAP) policy.
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Phone: (614) 292-0300 Toll-free: (800) 678-6440 to reach SSC | Fax: (614) 292-5587 | E-mail: email@example.com
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