When Do Overages of Financial Aid Get Released to Checking Accounts?

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Overages won't get released to checking accounts until the financial documentation is complete and the student is fully admitted into the university. Learn about how long it takes a school to certify loans with help from a financial aid officer in this free video on student financial aid and loans.

Part of the Video Series: Student Financial Aid
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Video Transcript

Hi, my name is Brooke Kramer. I'm a financial aid officer at Argosy University in Salt Lake City. And one question I get a lot is when do overages of financial aid get released to a checking account and this is a very... well complex question 'cause there are usually steps involved before a student even can receive overages and the first thing is to first complete all of the financial documentation that a school requires before we can even release funds. The second thing is to make sure that you are fully admitted into a university 'cause a university can't even start processing financial aid until you have been fully accepted and they have received all of your documentation including official transcripts and any other letters of recommendations or resumes that are required before you start. Once you have done this, then a school can start processing your financial aid file and then certify your loans and depending on how long it takes school to certify your loans and then once they are certified, that goes to your lender and your lender will then release your loans to the school. And so it all very much depends on how quickly a school can release your funds to you and how quickly you lender will actually disperse your funds to them. If you have any additional questions on this or concerns you can contact your own university and ask them this very question or you can also look at our website at www.argosy.edu and hopefully we can answer your question there.

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