Disbursement Policy


On December 1, 1994, the U.S. Department of Education instituted Cash Management requirements for institutions of Higher Education. These requirements affect the crediting and disbursement of financial aid funds. Highlights of these regulations are as follows:

  1. The College cannot disburse financial aid funds to a student’s account until the student is enrolled in classes for the semester for which the funds are intended.
  2. The earliest the College may credit a student’s account with financial aid funds is 10 days before the first day of the payment period.
  3. The College can only credit student accounts for allowable charges; i.e., tuition, fees, room and board if on campus. Any discretionary charges on the account may only be credited by financial aid if the student or the student’s parent, in the case of a PLUS loan, authorizes it through a signed statement. This authorization may be rescinded at any time by contacting the Office of Student Financial Services.
  4. If, after all allowable and authorized expenses are paid a balance is owed the student, it must be paid within 14 days.
  5. Financial aid checks are available at the CEU Cashier, Monday through Friday from 8:00 a.m. to 5:00 p.m. If an Electronic Funds Transfer is used for a FFELP or Perkins Loan, CEU will notify the student when funds are credited to the account, the amount expected in a refund and when it should be available.