Aid Disbursement Policy
Financial aid can be disbursed to a student’s Portland State University revolving charge account up to ten days prior to the start of each term. Aid will only disburse at this time if a student’s enrollment level matches their award level for the term, and there are no outstanding requirements. Our ability to disburse aid prior to the beginning of a term means that we must have a “census date” that corresponds to a student’s official aid eligibility for a term. Census dates for the 2020-2021 aid year and minimum enrollment requirements for the various financial aid programs can be found on the Office of Student Financial Aid and Scholarships website at www.pdx.edu/student-finance/eligibility. At the census date of each term each student’s final enrollment is "locked." Financial aid for that term may then require adjustment based on their enrollment level at that time. When a reduction in aid is required due to a student’s reduced enrollment level at the census date the reduction can create a balance due on the student’s PSU account. If there is tuition refund because of dropped credits, the tuition refund will be used to reduce the balance due on the student’s account.
Students applying to borrow a federal student loan must be enrolled in a minimum of halftime credit hours, have demonstrated need and/or eligible costs to receive a disbursement from the federal student loan programs.
Students who have received a disbursement of a federal student loan and then reduce enrollment below half-time will be required to complete federal student loan exit counseling as outlined in the federal student loan master promissory note. The PSU Registrar’s Office will report the less than half time enrollment status to the federal student loan servicer which will result in the loss of In School Deferment status. All prior federal student loans for a borrower who does not qualify for in school deferment will enter the grace period or repayment if a grace period was previously used.
Students who regain eligibility to borrow from the federal student loan programs by increasing enrollment after the census date for any term must notify the Office of Student Financial Aid by submitting an updated enrollment plan and request a reinstatement of their federal student loan.
Any current term aid disbursed after the census date will be based on the student’s enrollment on the census date, or their actual number of credits enrolled at the time of disbursement, depending on type of aid. Credits added after the census date cannot be used to increase aid eligibility. Retroactive aid (aid for a term that has ended prior to disbursement) must be disbursed based on completed grades/credit hours, or census date registration, whichever is less. This includes retroactive grants and loans. Grades that are considered “complete” for disbursement purposes are: A, B, C, D, F (if earned through course participation), P, I or IP.