RULE CHANGES Regarding Financial Aid Check Handouts
CHANGING RULES
The Department of Education is changing cash management rules effective July 1, 2008 that will have a direct affect on many students. The rule changes center upon deadlines that a school must follow to assure timely delivery of excess financial aid funds to the student and subsequent monitoring of each check after issue.
THE EFFECT UPON DELIVERY OF CHECKS
Beginning July 1, 2008, in order to help assure that we comply with the new rule changes, WSU (like many other schools) will begin to mail all checks to the student’s primary mailing address. That address is controlled on line by each student via their my WSU portal and WSU will consider it to be correct at all times. Checks that are mailed to the address maintained by the student will not be cancelled and re-issued for a minimum of ten working days.
PLEASE CONSIDER DIRECT DEPOSIT
The fastest and safest way for WSU to get your money to you is by direct deposit from us into your personal bank account. Please visit our Direct Deposit self service site and complete the on-line form now to avoid any address issues in the future.
Refunds of excess financial aid will be mailed to you on 08/25/08 (Fall) and 01/12/09 (Spring), the first day of class. It may appear on your account prior to that day but cannot be mailed to you until the first class day.
When money is received by the Office of Student Financial Aid and Scholarship Services, it is automatically transferred onto the Student Account after the Financial Aid system releases it. Once it applies to the Student Account, it will pay off current term items before the excess funds are mailed to the student or sent to the student's bank (See Direct Deposit self service). Washington State University is limited by Federal Government rules regarding what charges we can automatically pay with financial aid.
Financial Aid funds can only be applied towards tuition, mandatory health fee, mandatory Student Rec Center fee, mandatory stadium renovation fee, mandatory transit fee, mandatory CUB renovation fee, special course fees, and University Housing and Dining charges. We need the student's written permission to apply Excess Financial Aid funds to the following fees: sports passes, Cougar Cards, computer lab pass fees and other items on their account. In order to apply the funds to those sort of charges, we need the student to sign a form authorizing us to do so. You can download the form in PDF format below.
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