Eligible Term Disbursements

Online Students

Once we put you on a track, you have to remain on that track for the whole academic year. The student can change tracks only at the beginning of the academic year, when funds have not been disbursed.

Undergraduate:

• Track 1: July (F1), October (W1), January (S1), April (U1)
• Track 2: August (F2), November (W2), February (S2), May (U2)

September, March, and June are terms that are not covered by Federal Aid even though classes are offered by the University.

Graduate:

• Track 1: August (F2), January (S1), May (U2)
• Track 2: November (W2), March (S3)

Campus Students

Undergraduate/Graduate:

• August (F2), October (W1), January (S1), March (S3)

As a campus student, if you plan on registering for online classes, please contact the financial aid office so we can verify and let you know what terms could be covered if you are on the above track.

Exception Campus

Undergraduate/Graduate:

• July (F1), October (W1), January (S1), April (U1)

Some campuses start in July instead of August. If you plan on registering for online classes, please contact the financial aid office so we can verify and let you know what terms could be covered if you are on the above track.

Disbursements/Refunds

Students that plan to use Federal Financial Aid for tuition costs must be enrolled in a minimum of six (6) credit hours for undergraduate and three (3) credit hours for graduate, per term, to receive disbursements. Please contact your Financial Aid Advisor at toll free 866-567-7202 or wwfinaid@erau.edu for more information.

For students that have been scheduled to receive financial aid awards, please note funds are not requested from the lenders until after classes have begun. Funds are electronically sent to the University within 7-10 business days from the request, then disbursed to student accounts.

If you have excess funds, you will notice a credit in your student account. Any excess funds will be sent to the student by check or direct deposit. Your student account will then reflect zero. All refunds are handled by your respective campus.

You can setup direct deposit by going to the Bursar's website and selecting Direct Deposit Authorization for Student refunds-WW.

Overpayment

If a financial aid overpayment is made as a result of a student's error or failure to report requested information, the student is responsible for repaying the amount of the overpayment. The amount of the overpayment may be satisfied by reducing the student's federal award(s) in a subsequent enrollment period during the same award year as the overpayment was created.

If the overpayment amount can not be satisfied by deducting the amount from a future disbursement, the student is responsible for making direct restitution. As required by federal regulations, the Financial Aid Office will report the overpayment to the Department of Education through the National Student Loan Data System (NSLDS). Indication of an outstanding overpayment will be recorded on future output documents generated by the Department of Education and may prevent the student from receiving certain types of financial aid funding in the future.