70.06 GSL Delayed Disbursement Issued: May 15, 1998
A GSL Delayed Disbursement is a temporary credit applied against student fee
receivables when the processing of the student’s federal financial aid package
has been completed, but the University is required by federal regulations to delay
disbursement of the Guaranteed Student Loan award. The two circumstances in
which this may occur is freshman, where the disbursement of their loan is delayed
30 days and upperclassmen attending only one semester in an academic year,
where half of their disbursement is delayed for 30 days. The purpose of the
temporary credit is to ensure that students for whom disbursement of the GSL
is delayed are not dropped for non-payment of their fees.
2.1 Prior to the due date for the first installment of student fees, the Director
of Financial Aid identifies those students who still have an outstanding
balance due the University and who have a delayed GSL disbursement.
The Director of Financial Aid approves the posting of the GSL Delayed
Disbursement (temporary credit) for an amount equal to the delayed
disbursement amount or the amount required to meet the first installment
amount due, whichever is less.
2.2 At the time when the Director of Financial Aid can legally disburse the GSL
award, the GSL Delayed Disbursement posting is reversed and the amount
of the GSL award is posted.
Contact: Director of Student Financial Aid
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