Information on Title IV Refund Policy
A student’s enrollment determines when they will become eligible for disbursement. If a student reaches full time enrollment (Full time enrollment is 12 credit hours) in Term A, all funds will be disbursed to their Student Account prior to the Term A anticipated refund. If a student reaches half time enrollment (Half time enrollment is 6 credit hours) in Term A, only student loans and ½ of the Pell Grant will be disbursed to their Student Account. Only if ½ of Pell and student loans generate a refund, will a refund check be issued for half time students in Term A.
Once enrollment verification has been completed a second time (this time for Term B), the remaining Pell and FRAG (for full times students) will be disbursed to a student’s account. Only if those funds generate a refund will a refund will be issued in Term B.
The funds from student aid will not be received by PBA until 3 to 4 weeks after the end of Add/Drop for aid not requiring full time enrollment. (Full time enrollment is 12 credit hours; you need only to be registered for 6 credit hours to receive loans.) Aid will also be disbursed following the start of the second sub term for aid that does require full time enrollment. This means that student loans and the portion of the Pell funds for the classes which are being taken during the first sub-term will be disbursed to students' accounts during our initial disbursement period.
Second sub-term disbursements, including the rest of the Pell and any aid requiring full time enrollment (FRAG and FSAG), will not be disbursed until after attendance verification has been completed for the second sub-term. If there is a credit on your account, funds may be transferred to your ID card for use on campus, however, a refund check will not be available until after the second sub-term has started. If you are due a refund from your loans and the first portion of your Pell grant only, you may receive two refund checks, one in each sub-term.