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Financial Aid will disburse (meaning post to your tuition account) 2-3 weeks after the term census date (the day AFTER the last day to drop with a tuition refund).

  • To find the census date, view NOVA’s Academic Calendar; for Fall and Spring term view the 15-week session. For Summer term, view the 12-week session.

Important Items to remember:

  • Different aid (such as grants or loans) might disburse on different days.
  • Fall loans will not disburse until after October 1st.
  • Late Starting Classes: If some of your classes start later in the term it may delay when your aid disburses (see below for more information).

AID ADJUSTING FOR ENROLLMENT:

Your initial financial aid award is based on full-time (12 or more eligible credits) enrollment.

If, at term census date, you are registered for 11 or fewer eligible credits, your aid may change.

REFUND OF FINANCIAL AID:

After your financial aid disburses, it will be applied to your tuition and fees balance for the current term. If the amount of assistance is greater than the cost of your tuition, fees, and charged books, a refund for the balance of funds will be generated and sent electronically based on your selected preference after the schedule adjustment period ends. Please visit the NOVA refund website to register or modify your preferences, or for additional information.

For more information on refunds refer to our article: How can I check the status of my refund?

  • Refunds can take up to 14 days to process after your account shows a credit balance.

Additional Late Starting Class Information:

Keep in mind, aid will process for disbursement at the census date for the course that meets the minimum credit required. For loans that is 6 credits, for some grants and scholarships that may be 9 or 12 credits. If Pell is the only award, then it will be disbursed once 6 credits of enrollment is reached. If less than half-time, then the Pell will be adjusted at term census date and released at the course census date. (If a student only enrolled in 3 credits and it is a second 8-week course, then adjusted at term census date but disbursed at course census date, once enrollment is confirmed.)

(Financial Aid > Disbursements > Timeframe)

Last updated: 2020-11-19 04:58 PM 2073-8726-8386-3740
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