Receiving your funds

To have your aid funds disbursed, you must complete your financial aid file, verify registration and ensure all other requirements have been met.

Disbursement is the release of financial aid funds to your individual student account; S&T will use your financial aid funds to pay any tuition & fees, housing & food and books & supplies charged to your student account. Any remaining balance will be credited directly to you.

Student financial services sends out aid offer letters to all students who submitted a FAFSA by the February 1 priority deadline for the upcoming school year by the end of February. Those students that did not complete a FAFSA by the priority deadline will be processed in turn. If any student wishes to accept or decline this assistance, it is necessary that they log onto our online student self-service system, Joe'SS.

The amount of financial aid that has been awarded to a student may be revised if they are awarded additional financial assistance (scholarships, fellowships etc.) at a later date. The student will be notified if such revisions are made.  

To receive and/or maintain your award, the student will need to meet satisfactory academic progress requirements, and complete any documents required by student financial assistance.

Financial aid accepted by students will apply towards tuition and fees, food and housing, and any books and supply charges on your student account. If all requirements, including  full-time registration, promissory notes and counseling, are fulfilled by the student, the funds will be paid out to the student's account 7-10 days prior to the first day of class. 

If the total of the aid applied exceeds the amount of charges owed to the university, excess funds will be sent from the student financial services office to the student. If a Parent PLUS Loan has resulted in an overpayment, the refund will be sent directly to the parent if they requested. (We encourage students and parents to set up direct deposit to receive funds more quickly.) 

For more information on how financial aid is awarded, including your rights and responsibilities, see our policies and procedures page.

Refunds are processed through the student financial service's office. If the total of the aid applied exceeds the amount of charges owed to the university, excess funds will be sent from the cashier's office to the student. If a Parent PLUS Loan has resulted in an overpayment, the refund will be sent directly to the parent. We encourage students and parents to set up direct deposit to receive funds more quickly. Direct deposit refunds are generally in your bank account 3-5 business days after the date that the refund was processed. If you do not have a direct deposit set up, a check will be sent to your local-mailing-permanent address (in that order), and you should receive the refund 7-10 business days after the date the refund was processed. For more information, see our policy on Refund Procedures.

Early Withdrawals from School

Any change to enrollment, especially a drop in credit hours or withdrawal, may impact your financial aid award and tuition bill. If you are still full-time after dropping a class, your financial aid will not change. There are many factors that should be considered before dropping or withdrawing from a class. It is highly recommended for students to contact their counselor in the Student Financial Services office to evaluate their options. 

Student Financial Services is required to calculate a Return of Title IV funds on all students who withdraw or stop attending classes before the semester is 60% complete. This process also requires a review of students who receive all "F” grades to see if they attended and earned the failing grades, or did not attend and did not officially withdraw.  It is very likely that a portion of the aid received will need to be paid back to the federal government and Missouri S&T.

This policy is required by law, and students who owe a refund on Title IV aid may not be able to receive assistance at any school until it is repaid. Students must also maintain satisfactory academic progress, and withdrawals may impact future aid eligibility. (For more information, see our policy on withdrawing).

 

Financial Aid Next Steps

All incoming students are encouraged to review their next steps for financial aid. Students should be familiar with any requirements needed to receive financial aid at Missouri S&T. Additional information on these steps and requirements can be found on the Financial Aid Next Steps page.

Financial Aid Next Steps