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Student Financial Services

Strategic Enrollment Management and Student Success

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  2. Financial aid awards

Financial aid awards

Financial aid awards are included on the student’s eStatement:

Students should check their financial aid status through eServices and should contact us if expected awards are not on their eStatements. Students are responsible for ensuring that all necessary actions have been completed on time to receive their financial aid awards. The student remains financially responsible for the charges deferred based on any financial aid if later the student is determined ineligible. Students are also responsible for paying any increase in charges that may occur after the generation of a refund.

Federal work-study amounts cannot be deducted from the balance due.

Cancellations/adjustments

Students are financially responsible for any unpaid balance on their account if the Office of Financial Aid or a third-party sponsor cancels or reduces their award.

Financial aid restrictions

Under federal policy, students are not allowed to use more than $200 of the current academic year’s federal financial aid to pay a previous academic year’s balance. All previous semester balances should be paid in full before the start of the new semester. If a student owes a balance from a previous academic year, Student Accounting is required to refund overpayments of federal financial aid funds from the current academic year to the student. It is strongly recommended that the student use these proceeds to pay the previous academic year’s balance. A hold will be placed preventing the student from registering for classes or receiving transcripts until the balance is paid in full.

Withdrawals

Students who receive financial aid and withdraw from VCU before completing 60% of the semester (as measured in calendar days) will have their eligibility recalculated based on aid “earned” during the number of days enrolled prior to their withdrawal. Any unearned aid for the period of enrollment that the student did not complete must be returned to the loan issuer.

Contact us

Have questions about financial aid awards?

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