Payment Periods and Disbursement Procedure For Clock Hour Certificate Programs
Federal aid, which includes Federal Pell Grants, Federal Direct Loans will be used to pay the balance of fees and any required books and supplies or equipment purchases through the bookstore. Any credit balance remaining will be disbursed to students via their student account in two or more payments, depending on the number of academic years their program requires. The first payment period begins at the start of a program and ends at the halfway point of the defined academic year.
Prior to the first and all subsequent payments, the student’s attendance/participation and satisfactory academic progress will be verified. Direct loan disbursements are subject to a 30-day delay prior to disbursement. Students whose Direct loan eligibility has been verified may process a deferment of fees based on the anticipated federal student loan disbursement. Students whose program of study is a one (1) year certificate have a maximum loan eligibility of 1 1/2 years of subsidized loan eligibility effective with the 2013-2014 academic year.
In general, the student must successfully complete 90% of the scheduled 450 clock hours and 100% of the weeks scheduled prior to a second payment.
Federal aid credit balances are normally disbursed after the first fourteen (14) days or more of each payment period after student participation in the clock hour program has been documented by the instructors. Depending on the program there are two or more payment periods. Programs with one academic year will have two payment periods, while programs that have a second academic year will have more than two payment periods. Students may access their Fee Details and Financial Aid Summary screen via their secure login to SpyGlass login at www.pensacolastate.edu .