How will I receive my disbursement?
After the completion and approval of your Federal Title IV Financial Aid application and official admission to the University, you will receive an award letter for the academic year if you are eligible for aid. Trident will release the amount awarded to you in two equal disbursements; the first disbursement during at the beginning of the academic year (first session) and the second disbursement after half of the academic year is completed (third session if satisfactory academic progress is met). The first disbursement should be received within 10 days after completion of your first module in the first session, unless you are a first-time borrower in which the loan funds will not be disbursed until you have been in attendance for 30 days. Trident will apply the disbursement amount to your student account to cover any tuition owed to the University. If your financial need was greater than tuition, the disbursement amount may exceed the tuition owed to the University creating a credit balance on your student account. Depending on what you have directed the University to do with the funds, Trident will hold any excess amount in your student account to cover future tuition costs, return the excess to the lender, or refund the excess to you. If you selected to have the credit balance sent directly to you, the Bursar will mail the check to you within 14 days from the date the funds are credited to your student account, per requirements of the Department of Education.
The second disbursement is subject to your ability to maintain Satisfactory Academic Progress (SAP). To remain eligible for federal student financial aid, among other requirements, you must maintain SAP. If SAP is met, the second disbursement will be received within 10 days after completion of module 1 in the 3rd session of your academic year. Trident will apply the disbursement amount to your student account to cover any tuition owed to the University. If your financial need was greater than tuition, the disbursement amount may exceed the tuition owed to the University creating a credit balance on your student account. Depending on what you have directed the University to do with the funds, Trident will hold any excess amount in your student account to cover future tuition costs, return the excess to the lender, or refund the excess to you. If you selected to have the credit balance sent directly to you, the Bursar will mail the check to you within 14 days from the date the funds are credited to your student account, per requirements of the Department of Education.
When applying for Federal Title IV Financial Aid within SSS, you will be asked to read and electronically accept the University’s SAP policies. Your original award letter assumes you will maintain SAP. However, if over the course of the first disbursement period you have not maintained SAP, your second disbursement will be delayed and you may lose eligibility to receive the aid. The delay will occur regardless of what your original award letter and/ or communications with your lender may have indicated.
Please be sure you have read the University’s policies on SAP and understand them. If you have any questions, please contact the Student Finance department for clarification.
Out of Pocket Costs
The Federal Title IV Financial Aid offered to a student in the award letter may not be enough to cover tuition.
Students have an obligation to pay Trident any tuition not covered by Federal Financial Aid or other sources. Students may contact the University Bursar for payment information on tuition balances.
