DCSIMG

Disbursement of Financial Aid

 

A disbursement occurs when your financial aid award is transferred to your student account.

Disbursements of financial aid awards are distributed in equal amounts to each semester that you are attending for the award year. Disbursement of your award is contingent upon your eligibility (including classroom attendance) for the award. Once we have verified your eligibility for your financial aid awards, they will be disbursed to your student accounts. Disbursements usually begin within 30 days of the beginning of the semester.

If your disbursed award amount exceeds the charges on your student account, the Student Billing Office will mail you a check for the excess funds.

If you are receiving a New Jersey Tuition Aid Grant (TAG), you will receive final notification of your award amount from the State of New Jersey Higher Education Student Assistance Authority, HESAA.

Federal Direct Subsidized and Unsubsidized Loan Origination Fees

For all loans with a first disbursement after July 1, 2011, a .5% origination fee will be deducted from Federal Direct Subsidized and Unsubsidized loans awarded. As a result, your net loan amount that disburses to your student account will be 99.5% of your loan amount awarded.

For all loans with a first disbursement after July 1, 2012, a 1% origination fee will be deducted from Federal Direct Subsidized and Unsubsidized loans awarded. As a result, your net loan amount that disburses to your student account will be 99% of your loan amount awarded.

Federal Direct Parent PLUS and Grad PLUS Loan Origination Fees

For all loans with a first disbursement after July 1, 2011, a 2.5% origination fee will be deducted from Federal Direct PLUS loans awarded. As a result, your net loan amount that disburses to your student account will be 97.5% of your loan amount awarded.

For all loans with a first disbursement after July 1, 2012, a 4% origination fee will be deducted from Federal Direct PLUS loans awarded. As a result, your net loan amount that disburses to your student account will be 96% of your loan amount awarded.

Perkins Loan Origination Fee

There is no origination fee for your Perkins Loan. As a result, your net loan amount that disburses to your student account will be 100% of your loan amount awarded.

Alternative or NJ CLASS Loans

An origination fee may also be deducted for other Alternative or Private loans. Please refer to your loan terms for more information.

The net amount will be applied to your student account.

Staff Information

Evelynne Blatt
Director of Financial Aid
blatte@centenarycollege.edu

Joanna Cellary
Assistant Director of Financial Aid
cellaryj@centenarycollege.edu

Colleen Drum
Administrative Assistant
drumc@centenarycollege.edu 

Eloise Murray
Financial Aid Counselor
murraye@centenarycollege.edu