Disbursement

How you will receive your aid funds?

Financial aid awarded reduces the amount due on the bill and is applied as listed below for each aid type. Financial aid awarded after the initial billing is applied to your UNC Charlotte student account.

  • Grants and Scholarships appear as a credit on your bill.

  • Merit Scholarships appear as a credit on your registration bill until we receive actual funds from the Levine Scholarship Office at the beginning of the semester.

  • Federal Stafford Subsidized or Unsubsidized Loan, and the Perkins Loan all require a Master Promissory Note, and the Stafford and Perkins Loans also require that the student accept the loan offer in Self-Service Banner. By law these loans cannot disburse to the student's account until 10 days prior to the start of classes each semester.

  • A temporary credit (memoed aid) is included on the bill for Stafford loans if the loan has been accepted.

  • Parent PLUS Loan and Grad Plus Loan require completion of a FAFSA, a Master Promissory Note and UNC Charlotte PLUS Loan Application Form, and a credit approval. If these requirements are met, a temporary credit (memoed aid) will appear on the billing statement and actual funds will disburse 10 days before the start of classes.

  • Alternative loans are applied as memoed aid if the loan has been approved. Funds are released 10 days prior to the start of classes.

  • Work Study does NOT appear on the bill and does not reduce the amount owed. Students are responsible for finding their own jobs and using their pay for school-related expenses.

  • If you have been awarded an NCSEAA Scholarship, please be aware that the funds for these scholarships will disburse to your student account after September 3rd.  

Refunds of excess financial aid

When your disbursed financial aid and other payments (not including temporary aid) exceed your UNC Charlotte charges, you are entitled to a refund of the excess amount.

Changes in enrollment may affect your financial aid

Because financial aid is initially awarded prior to registration, your initial financial aid award is based the assumption that you will maintain full-time enrollment status. 

  • Full-time course enrollment for undergraduate students is 12 credit hours or more.

  • Full-time course enrollment for graduate students is 9 credit hours or more.

If you drop classes and fall below full-time course enrollment

  • If you drop classes and fall below full-time status, your financial aid award may be adjusted/decreased based on the number of credits you keep for the term.  Therefore, if you received a refund before the drop/add period, it is possible that you may have to return some or all of that refund.

Undergraduate Students:

  • If you stay at full-time status (12 credit hours or more), no action is required. Your financial aid award will not be adjusted.

  • If you take 11 hours or less after drop/add, your aid may change. The Financial Aid office will notify you if your balance has been changed. Watch your email for this notice. It will be sent after the drop/add period.

Graduate Students:

  • If you stay at full-time status (9 credit hours or more), no action is required. Your financial aid award will not be adjusted.

  • If you take 8 hours or less after drop/add, your aid may change. The Financial Aid office will notify you if your balance has been changed. Watch your email for this notice. It will be sent after the drop/add period.

When adjustments to aid are made

We will review changes to all students’ enrollment statuses after the drop/add period has ended.  As long you are at full time status after the drop/add period ends, no changes will be made to your award due to enrollment status. 

Adjustments to aid

If changes must be made to your financial aid package, it is sometimes necessary to bill you back for aid already disbursed.
All financial aid and educational resources must fit within your budget. If we become aware of additional financial aid or other resources, this over award must be eliminated by reducing or cancelling other aid.

Cancellation of loans

You have the right to cancel all or a portion of your PLUS, Stafford or Perkins loans, even after the loan funds have been disbursed to you. If you wish to cancel an already disbursed loan, you must notify OSFA within 14 calendar days of the billing statement notifying you that the funds have been applied to your account.

The parent borrower has the right to cancel all or a portion of the PLUS, even after the loan funds have been disbursed to your UNC Charlotte student account. If the parent wishes to cancel an already disbursed PLUS, the borrower must notify OSFA within 14 calendar days of the billing statement notifying you that the funds have been applied to your student account.

Withdrawal from UNC Charlotte

You may be billed for a portion or all of your financial aid if you withdraw from the university. The bill calculated as a result of withdrawal will depend on the effective date of withdrawal, the percentage and amount of institutional refund, and/or the last date of class attendance. See Financial Aid (Title IV) Return Policy for more information about the effects of withdrawing from UNC Charlotte.