Financial aid disbursements (excluding Work Study) are processed every Friday (with the exception of holidays). Per federal regulations, refunds are released no later than 14 calendar days after a student’s financial aid disbursement posts to their
account and all applicable college charges have been paid. The Office of Student Financial Services will disburse refunds to students after the Office of Financial Aid in conjunction with the Office of the Registrar, determines eligibility and authorizes disbursement.
Eligibility Before Disbursement
Before disbursing Federal Student Aid funds, the Office of Financial Aid will make sure that you have completed all necessary steps in the financial aid process and any other steps required by the lender of any loan you have accepted. Disbursements are based on the number of credit hours in which a student is enrolled at the time disbursement is processed. For loan programs, students must be enrolled at least half-time at the time of disbursement. A student’s Pell Grant will be prorated based on their enrollment at the time of disbursement.
A financial aid credit balance occurs after the college charges are paid in full.
Refunds that can be used for other costs associated with a student’s education will be generated through the Office of Student Financial Services.
All financial aid is disbursed in two installments. One half of the total is disbursed each semester and applied toward charges on the student’s account (tuition and fees, room and board, and/or other college charges). Any transaction in which a financial aid credit exceeds charges for the term will generate net loan proceeds.
Checking Account Balances
All student balances are managed through Paine College’s student information system
(SIS). Students may check account balances by logging in to
PaineNet. Enter username, password and follow instructions
to check your student account. Students may also visit the Office of Student Financial Services, Haygood-Hosley Hall, Room 110 on the campus of Paine College. Students must present
a valid picture ID prior to being given information about their account. The Federal Family Educational Rights and Privacy Act (FERPA) prohibits Paine College personnel
from disclosing a student’s financial status to a third party without the student’s written consent.