Receiving Your Financial Aid
Financial aid automatically applies towards student charges such as tuition, fees, and on-campus housing for students who are enrolled in more than six units. Most anticipated aid will be credit towards the outstanding balance a few days before the start of the term for students enrolled in more than six units. Exceptions would include Federal Work-Study funds, which must be earned, and student secured scholarships for which funds have not been received.
If there is no aid or not enough aid to cover all the outstanding fees, payment for the difference is due by the bill due date listed on your bill.
Financial Aid Distribution and Disbursement
The California Maritime Academy Office of Business Affairs (Cashiering) is responsible for disbursing refunds from student accounts once financial aid has been applied to your student account. You must be registered and have your tuition and fees billed to your account for financial aid to be applied. Aid funds are never made available in advance. Textbooks cannot be charged to a student's account. It is assumed that the student will purchase textbooks out-of-pocket and use any refund to "reimburse" themselves for the costs. If a credit balance remains on your student account after current University charges are paid, you will be issued a refund. Federal Work-Study earnings are paid by payroll check to you each month for hours worked. You may receive a refund and still have an outstanding balance on your account.
If you have direct deposit set up, your refund will be directly deposited to your bank account and should be available the first day of classes. You can sign up for Direct Deposit online through PeopleSoft Self Service Section. This is the quickest, most efficient way to receive your refund.
If you did not sign up for direct deposit you will have a check mailed to your current mailing address, as listed with the University. Please check PeopleSoft to make sure your address is up to date.
There are several ways in which your aid may be delayed. Here are the most common reasons:
- You may be required to complete Entrance Counseling and sign a Master Promissory Note (MPN) for your Federal Direct Loans. Check your "To Do List" in Self Service to see if you have outstanding loan requirements.
- Dropping classes (below 6.1 for undergraduates, 9 for graduates). All students are assumed to be full-time (at least 12 units) unless they notify Financial Aid in writing that they will be enrolled less than full-time. If you are not enrolled half-time your aid will not disburse.
- Registering late for classes.
- Having outstanding "To Do List" items with your financial aid file that you have not completed. Check your "To Do List" for any outstanding requirements.
We are here to help you manage your financial aid experience, but much of the responsibility falls on you. Be sure to check PeopleSoft frequently and review any emails you receive from us as they may include requests for additional information or action. Call, email, or stop by if you have any questions, we are here to help you!