Anticipated Financial Aid and Your University Account
Your University Student Account is maintained by the Bursar/Student Accounts Office. The Office of the Bursar handles all payments made to the University, disburses refund checks, and issues traffic permits. The Student Accounts Office, otherwise known as Student Billing and Collections, provides assistance concerning student billing and account questions. Student Accounts offers the Time Option Payment Plan (TOPP) to assist with educational expenses. TOPP allows you and your parents to make equal and consecutive payments throughout the term, rather than paying the total balance of the bill. To learn more about TOPP visit http://stonybrook.edu/bursar/topp.shtml.
Most financial aid awards (scholarships, grants, and loans) are applied directly to the charges listed on your University account. When payment of financial aid funds are applied to your account, the award is said to have been 'disbursed' in Financial Aid. Because disbursement of aid does not begin until the first week of the term, awards may appear as 'anticipated aid' on your University account. To view your University account, click on the "Account summary/What do I owe?" link under the Student Financial Services section of the SOLAR System.
Understanding Anticipated Financial Aid
Accepted financial aid awards that can be applied against your University account will appear as 'anticipated aid' on your University account until they have either disbursed, expired, or have been cancelled.
Q & A's:
Q:WHAT IS ANTICIPATED FINANCIAL AID?
A:Anticipated financial aid is recognized as “expected” aid against University charges, thus temporarily reducing the amount that the student needs to pay.
Q:IS ALL FINANCIAL AID CONSIDERED ANTICIPATED FINANCIAL AID?
A:No. Award estimates, stipends, Federal Work Study and student reported awards are not considered anticipated financial aid.
Q:WHAT DOES THE TERM “EXPIRED ANTICIPATED FINANCIAL AID” MEAN?
A:Financial aid is only anticipated for a finite period of time. This finite period of time is specific for each financial aid award and is determined by the maximum reasonable amount of time it should take for this aid to disburse. Expired anticipated aid is no longer recognized as “expected” aid against University charges. This expiration of anticipated financial aid results in the student being responsible to pay his or her balance in full. To prevent this, it is important that you respond promptly to requests for information from the Office of Financial Aid and Scholarship Services.
Q:IF MY ANTICIPATED FINANCIAL AID AWARD HAS EXPIRED, DOES THIS MEAN MY AWARD HAS BEEN CANCELLED?
A:No. Your award(s) will continue to appear when clicking on 'My Financial Aid Awards' under the Student Financial Services section of the SOLAR System.
Q:WHEN WILL MY EXPIRED ANTICIPATED FINANCIAL AID BE APPLIED TO MY UNIVERSITY ACCOUNT?
A:Once all requested information has been received and processed by Financial Aid and you still qualify for the award, it will then be disbursed and credited to your University account.
Q:WILL MY EXPIRED AID SHOW UP AS ANTICIPATED FINANCIAL AID AGAIN?
A:No. Generally, once your anticipated aid award has expired, it will NOT appear again as anticipated aid against your University account for that term.
Q:WILL I INCUR LATE FEES DUE TO THE EXPIRED ANTICIPATED FINANCIAL AID?
A:Yes, you could if you have an outstanding account balance.
Q:IF I PAY MY OUTSTANDING BALANCE NOW, WHAT HAPPENS WHEN MY FINANCIAL AID AWARD IS DISBURSED?
A:Once your award is disbursed, any excess credit resulting after all obligations due the University and its related divisions will be refunded to you (or sent to your parent, if it’s a PLUS loan refund) within 14 days. See Disbursement of Financial Aid for further details.