When will my
financial aid funds disburse?
Assuming all requirements are met, financial aid disbursements
begin approximately 10 days from the start of the term. It usually
takes 1 full week to disburse funds to all students.
When do I get my
Refunds are sent to a student’s Higher One account within 14
days from the date that the credit balance is created. To expedite
the receiving of funds after they are sent to Higher One, students
should activate their Higher One account and select a refund option
through the Higher One website. If a student doesn’t select
a refund option, they will be mailed a paper check via the US
How do I get my book
If a student has accepted enough financial aid to pay for the
current balance due in the term, a financial aid book voucher will
automatically be created. Book vouchers begin to be created as
early as four weeks prior to the start of the term. University
campus undergraduates students are not eligible to participate in
the voucher program but may utilize Monarch Money at the campus
bookstore. Monarch Money funds may be requested through Trane
If I’m using tuition Military
assistance (TA), why can’t I receive a book voucher?
Financial aid book vouchers are automatically scheduled if a
student has enough Federal Financial Aid to cover the current
balance for each term. Students that are receiving TA and some
Federal Financial Aid may contact Financial Aid Support to see if a
manual book voucher can be scheduled.
Why wasn’t my
Academic Readiness Scholarship awarded yet? (This question applies
to Saint Leo University’s Center for Online Learning students
A student’s eligibility for the Academic Readiness Scholarship
is reviewed after the drop/add period has ended. Eligible students
will typically have this award added to their financial aid
packages by the end of the 2nd week of the term.
Why wasn’t my Florida
Resident Access Grant (FRAG) credited to my account
A Florida Resident Access Grant (FRAG) is available to most
Florida residents who attend full time at a private university
within the state. Below are some details to help you understand how
Saint Leo University disburses this award and applies FRAG funds to
your student account.
Full time status constitutes attending for 12+ credit hours over
the course of a semester, or attending for 12+ credit hours over
the course of two linked, 8-week terms. Please note, because FRAG
is not available for summer classes, you must attend full time
between Fall 1 (FA1) and Fall 2 (FA2) terms or Spring 1 (SP1) and
Spring 2 (SP2) terms to receive FRAG funds.
Due to the differences between term and semester student
enrollment, FRAG is handled one of two ways on a student account.
If you are a full time student for the semester, your FRAG award is
disbursed after drop/add of your semester. However, if your full
time status is split between two 8-week terms (example: 13FA1 &
13FA2), your FRAG award will not be applied to your account until
your full time status is reached during the second term. For
example, if you signed up for 6 credits in 13FA1 and 6 credits in
13FA2, you will not receive your FRAG for both 13FA1 and 13FA2
until after the drop/add period of 13FA2. Once your full time
enrollment status is met during the 13FA2 term your FRAG award will
disburse onto your account for both terms.
For many students this may mean that the balance for their FA1
term or SP1 term, or the balance for their fall or spring semester,
becomes past due while the student is waiting for their FRAG
disbursements. In these situations the University is unable to
consider future aid as credit towards a student’s account. Students
in this situation are encouraged to sign up for a University
payment plan to cover the gap between their financial aid and their
tuition. If a student has a zero balance at the time their FRAG
funds are disbursed and credited to their account, a refund will be
What makes a student
eligible to receive full or only partial Pell Grants?
Pell Grant awards are based on the FAFSA (Free Application for
Federal Student Aid) year. Each FAFSA year starts July 1 and ends
June 30th. The student’s Expected Family Contribution (EFC) - which
the Department of Education (DOE) calculates based on the student’s
FAFSA responses - determines how much (if any) need-based Federal
Financial Aid a student is eligible to receive. Students may
receive a Pell Grant either up to their annual limit or until the
FAFSA year ends. The annual Pell Grant award amount is based on the
student attending full-time (24 credit hours) during the FAFSA
The lifetime limit of the Pell Grant is 6 years, or 600%. Each
year, the amount of Pell that a student has received is divided by
the amount of Pell Grant they could have received for attending
full-time. When the student has reached 600%, they cannot receive
any additional Pell Grant funds. The Department of Education tracks
this. As of the 2013-2014 academic year, alerts are placed on the
Student Aid Report (SAR) and ISIR to inform the student and school
as to where a student is in relation to this limit.
A student’s Pell Grant is determined using the following
# Credit Hours Attended
___________________ X Annual Pell Award = Pell Grant Amount for
24 Credit Hours
Example: A student has a $0 EFC. They are eligible for the
maximum Pell Grant - $5645.
For terms in which the student attends 6 credit hours, the
student may receive $1411/$1412 Pell Grant
For terms in which the student attends 3 credit hours, the
student may receive $705/$706 Pell Grant
What makes a student
eligible to receive full or only partial Direct Loans?
Direct Loans require half-time status (6 credit hours) during a
semester or 2- linked term payment periods to be eligible to
disburse. Undergraduate dependent students have an aggregate of
$31,000 for their combined subsidized and unsubsidized loans —no
more than $23,000 of this amount may be in subsidized loans.
Undergraduate independent students have an aggregate of $57,500—
again, no more than $23,000 of this amount can be in subsidized
What will happen to my
financial aid if I drop a class?
If a student did not attend any of their classes and drops all
of them during drop/add, they will not be eligible to receive any
financial aid for the dropped term. If the student has used a book
voucher or has other fees on their account, they will need to make
alternative payment arrangements for those balances. Students need
to notify Financial Aid Support when they drop classes from their
semester or first term so that their Direct Loan(s) will be
restructured and ready for the student to use during their next
attended semester or term.
What happens to my
financial aid if I withdraw from a class?
If the student withdraws from one course, but is still enrolled
at least halftime, the student will be eligible to keep Federal
Financial Aid that has already disbursed.
If the student’s Federal Financial Aid has not disbursed yet and
the student is no longer considered to be attending at least
half-time, the student is ineligible for that term’s Federal
Financial Aid - including Direct Loan and Pell Grant disbursements.
Current Department of Education policy requires that any future
Direct Loan and Pell Grant disbursements scheduled for the pay
period be cancelled. It is the student’s responsibility to contact
Financial Aid Support to inform Saint Leo University of the next
term or semester the student plans to re-enroll in. Doing so will
allow Saint Leo University to restructure the student’s Federal
Financial Aid to accommodate his/her future registration and to
minimize interruption to the student’s forthcoming financial aid
Example: A student’s linked terms are Fall 1 and Fall 2. The
student starts attending 6 credit hours in Fall 1 and doesn’t
enroll in Fall 2. The student withdraws from 3 credit hours before
their Federal Financial Aid disburses. The student is no longer
eligible for Fall 1 Federal Financial Aid because s/he is not
meeting the half-time attendance requirement.
If students withdraw from all courses, the Department of
Education requires that a Return of Title IV calculation is
completed. This calculation determines what percentage of Federal
Financial Aid the student has earned based on the following
Days Attended in Pay Period
________________________ = Percentage of Federal Financial Aid
Earned by Student
Actual Days in the Pay Period
If the result of this calculation is 60.1% or greater, the
student is considered to have earned 100% of his/her eligible aid.
In situations where the student is eligible for aid that did not
disburse, the student is offered the option of a Post Withdraw
Disbursement (PWD). The PWD form will be sent to the student. The
form must be returned to the Financial Aid Office within 10
calendar days in order for the eligible aid to be disbursed.
If a student withdraws from the first term in the payment period
and plans to return for the second term in the payment period, the
student may request to have their Return of Title IV calculation
put on hold. The student can make this request during their online
withdraw process by completing a Confirmation of Attendance Form
and submitting it to the Financial Aid Office immediately after
withdrawing. Click here for the Confirmation of Attendance
If the student does not complete the Confirmation of Attendance
process, the Return of Title IV calculation will be completed and
any aid determined to be ‘unearned’ will be returned to the
Department of Education. If the student subsequently returns for
the 2nd term in the payment period (that they had enrolled in prior
to the withdraw date of the 1st term), the Return of Title IV
calculation will be reversed and any aid sent back to the DOE will
be returned to the student’s account.
Note: Withdrawn courses count as attempted - but not completed
courses - for Satisfactory Academic Progress (SAP).
What happens if I take a term
Students are not eligible to receive financial aid for
unattended terms. If the skipped term is the first scheduled term
for a student’s Direct Loan or Pell Grant, the student should
contact Financial Aid Support immediately. Current Department of
Education policy requires that any future Direct Loan or Pell Grant
disbursements scheduled for the pay period will be cancelled. It is
the student’s responsibility to contact Financial Aid Support to
inform Saint Leo University of the next term or semester the
student plans to re-enroll for. Doing so will allow Saint Leo
University to restructure the student’s financial aid to
accommodate his/her future registration and to minimize
interruption to the student’s forthcoming financial aid
disbursements. Any Direct Loans or Pell Grant funds that are not
paid out do not become debt. These funds may be used to finance
terms or semesters attended in the future. These unused funds will
not count towards the Direct Loan aggregate limit or Pell Grant
Lifetime limits. Based on the student’s attendance status, not
attending a term may impact the student’s ability to receive Direct
Loans for the next term.
Why am I in
The Department of Education selects students for the
verification process. Verification selection can be random or
because a student’s FAFSA was incomplete, estimated, or
inconsistent. Saint Leo University may also select students for the
verification process if conflicting information is found.
Why haven’t I heard
anything about my verification?
Students should monitor their Saint Leo University email account
and eLion account for updates on their financial aid. If more than
5 business days have passed since a document was submitted and it
has not been updated to ‘received’ status, there may be something
wrong (either the document was not received, something was missing
from the document, or information on the document contradicts
information on the FAFSA and needs to be clarified).
Verification review typically takes up to 10 business days from
the time that all required documents are received. Because
additional information may be needed to complete the verification
review, students should monitor their Saint Leo University email
and eLion accounts. Once verification is completed, most students’
financial aid will be packaged within 5 business days. However,
some special circumstances may require extra time. Reasons why it
may take additional time to package a student’s financial aid
include: the student being close to his/her loan aggregate limit,
the student being in an Open Academic Year with another school, or
the student needing information updated on their Saint Leo
How do I accept my
financial aid awards?
Grants and scholarships are automatically accepted, so students
do not need to take any action to receive these awards. However,
students must follow the steps below to accept or reject their
Students should log into eLion, click on “Financial Aid,” and then click
on “Accept or Reject My Financial Aid Awards.”
Students will be prompted to choose the award year. (Some
continuing students may still have Direct Loans awarded in the
prior year listed. However, most students will find their Direct
Loans awarded in the current year.)
How do I decrease
the amount of my Direct Loan?
Requests to decrease Direct Loan disbursement amounts can either
be emailed by the student from their Saint Leo University email
account or they may mail a signed and dated request. Students may
also fill out a Request to Change Loan Amounts Form.
How can I get my
previously rejected Direct Loans back?
A request to have Direct Loan funds that were previously
rejected changed back to ‘estimated status’ (so that the student
can accept the loan) can be either emailed by the student from
their Saint Leo University email account or they may mail a signed
and dated request.
What is the
difference between subsidized and unsubsidized loans?
Saint Leo University always encourages students to accept
subsidized Direct Loans prior to accepting unsubsidized Direct
Overview of subsidized Direct Loans:
Overview of unsubsidized Direct Loans:
Students should visit the Studentaid.ed.gov website for
additional details on Direct Loans.
Who can I contact for
information about my Direct (Federal) Loans? I am looking for
information about how much I borrowed, when I must pay my loans
back, what my repayment options are, and other
If you need information on your student loans but aren’t sure
who to contact, the National Student Loan Data System (NSLDS) is an
excellent place to start. NSLDS is the U.S. Department of
Education’s (ED) central database for federal student aid records.
It tracks your loans from the time you apply until you complete
repayment. NSLDS allows you to see details about all your federal
student loans at the same time including contact information for
your Direct Loan servicer(s). Please note, private loans are not in
Who can I contact for
information about my private student loans? I am looking for
information about how much I borrowed, when I must pay my loans
back, what my repayment options are, and other
If you need information on your private student loans but aren’t
sure who to contact, you are welcome to call Financial Aid Support
(800-240-7658) for information about your lender. Private student
loans may also be listed on your credit reports. Since some lenders
do not report private student loans to every credit reporting
agency, it is best to check your credit reports at all three major
credit reporting agencies. You are entitled to a free copy of your
credit report from each of the three major credit reporting
agencies once a year. You can obtain these free credit reports from
www.annualcreditreport.com. Beware of lookalike
web sites that charge for access to your credit reports.
Who can I contact
with questions about my financial aid?
If you have questions about your financial aid, please call
Financial Aid Support toll-free at (800) 240-7658 to speak with a
Financial Aid Liaison. You are also welcome to send your questions
via email to Financial Aid Support at firstname.lastname@example.org.