Fall 2009 Disbursement - Important Information

08/11/09

DEADLINE FOR FIRST FALL 2009 DISBURSEMENT:
The award entry deadline for the first Fall Term 2009 Financial Aid disbursement will be at 5:00 p.m., Friday, August 28, 2009, for funds delivery to students on Thursday, September 3, 2009. This applies to awards with Disbursement Plans 01 Term and 03 Monthly Special.

PENDING (ANTICIPATED) AID DEADLINE:
Awards entered by the end of business on August 13, 2009, will appear as pending aid on students' accounts.
-- Pending aid is aid that students would receive if disbursement rules are met, and is intended to pay charges on students' accounts.
-- For pending aid to be reflected on account summaries and billing statements, award entry must be completed four weeks before the term starts.
-- The “Student Billing and Due Date Planning Calendar - Fall Term 2009” details processing due dates for tasks related to the billing schedule is in My LINC at:
<http://maislinc.umich.edu/maislinc/lang-en/management/LMS_ActDetails.asp?UserMode=0&ActivityId=29695>

DEADLINES FOR DISBURSEMENT OVERRIDES:
A disbursement override is required when an awarding office determines a student does not need to meet a disbursement rule(s) for a Financial Aid Item Type. Disbursement override requests are due to OFA by noon on:
-- August 13, 2009, for the pending aid to display on students' fall billing statements.
-- August 28, 2009, for the beginning of Fall Term 2009 disbursement. This will ensure delivery of funds to the student on Thursday, September 3, 2009.

SPECIAL HANDLING REQUESTS FOR BEGINNING OF TERM:
Special Handling Requests must be received by Payroll no later then 5:00 p.m., on Friday, August 28, 2009.

FALL 2009 EXCEPTIONS TO DEADLINES AND FUNDS DELIVERY:
Enter awards by:
-- Friday, August 28; for funds delivery on Thursday, September 3.
-- Wednesday, September 2; for funds delivery on Tuesday, September 8.
-- Wednesday, October 7; for funds delivery on Tuesday, October 13.
-- Monday, November 23; for funds delivery on Friday, November 27.
-- Tuesday, December 15; for funds delivery on Friday, December 18.

MONTHLY STIPEND DISBURSEMENT DATES:
For Disbursement Plans 02 and 03, enter awards by:
-- Wednesday, September 16; for funds delivery on Monday, September 21.
-- Wednesday, October 14; for funds delivery on Monday, October 19.
-- Wednesday, November 11; for funds delivery on Monday, November 16.
-- Wednesday, December 9; for funds delivery on Monday, December 14.

IMPORTANCE OF EARLY AWARD ENTRY:
Departmental aid can impact a student's eligibility for need-based financial aid. It is very important that you enter departmental aid in advance of fund disbursement in order to:
-- Provide OFA with time to adjust aid packages, as needed
-- Prevent disbursement delays for students' need-based aid
-- Ensure students receive their funds at the beginning of the term to cover critical costs, such as book and supply purchases and living expenses

FINANCIAL AID FORMS AND INSTRUCTIONS:
To obtain resources related to these reminders, visit: <http://www.mais.umich.edu/student/faforms.html>

FOR ASSISTANCE OR QUESTIONS:
Contact OFA at: sfps@umich.edu.

To: "M-Pathways Users Who Enter and Monitor Financial Aid Awards"
CC: Student Administration Unit Liaisons
From: Office of Financial Aid
Date: Tuesday, August 11, 2009
Subject: Fall 2009 Disbursement - Important Information