Annual awards from the Federal Pell Grant, Federal SEOG, Federal Perkins Loan, Federal Stafford Loan, state, and Stevenson University programs are divided into two equal amounts and applied to student accounts upon the completion of the University's published refund period. If a student fails to register, the awards are canceled.
Payments of wages earned through the Federal Work-Study Program (FWS) are made bi-weekly to the student, and are based solely on the number of hours worked. FWS earnings are not credited directly to tuition and fee charges.
Proceeds from the Federal Stafford Loan and Federal PLUS Programs are forwarded to the University by the participating lending institution by electronic transfer. The lending institution will disburse funds in two payments. Keep in mind that processing and origination fees may be charged by the lender. At the time an electronic transfer is received, or the student endorses the Stafford check, or the parent endorses the PLUS check, the student must still be enrolled at the University, eligible for funds, and making satisfactory academic progress. If the second semester's portion of the Stafford or PLUS award is not used due to the student's withdrawal or dismissal, this part of the award must be returned to the lending institution.