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Disbursements and Refunds

Paying for classes using my financial aid- All accepted Financial Aid and Scholarship awards are automatically applied towards tuition and fees, room and board. If your financial aid credit exceeds your total charges, a refund will be issued to you. CSI partners with BankMobile to issue student refunds.

When my financial aid and scholarships will pay?

Financial aid awards will be made based on the number of eligible credits students are enrolled in at 8:00 a.m. on Monday of the second week of classes. The first disbursement of Federal financial aid and scholarships will be on the second Tuesday of the semester. By accepting the Federal financial aid or scholarship disbursement, the student certifies that they are enrolled in the number of eligible credits on which their awards were calculated and that they are attending all of their classes.

If students who receive Federal financial aid increase the number of credits they are enrolled in after 8:00 a.m. on the second Monday, they will be responsible for all tuition and fees for those classes, (they will not be awarded additional aid for the semester).

Charging to financial aid offers

Students whose financial aid award is large enough to cover tuition, books and supplies will be able to charge against their financial aid award at the CSI bookstore. The same is true for CSI housing, food service, and CSI Child Care Center. Students with large enough financial aid awards can start charging against their accounts the week before schools starts. 

Parent Loans The parent's written authorization is required for the disbursement of any excess Parent PLUS loan funds to the student. In the absence of the parent's written authorization, excess Parent PLUS loan funds will be mailed to the parent using the mailing address provided on the Parent PLUS loan application.

Returning Financial Aid: Students have the right to cancel all or a portion of their student loan(s) disbursed to them within 14 days from the disbursement date. They must return the funds to the Matrix within 10 days of disbursement to allow for the processing of the loan return.

Deduction of Miscellaneous Charges: With the student's permission, CSI can apply excess Federal Financial Aid funds (amount left over after paying tuition/fees and room/board) towards other educationally related charges.  These charges may include: traffic/parking fines, child care fees, library fines, late fees, reinstatement fees, and returned check charges, etc.  Students can fill out an Authorization for the Deduction of Miscellaneous Charges form to have miscellaneous charges deducted from their Federal Financial Aid.