How do I receive my Financial Aid funds?
The Bursar’s Office will issue bills beginning in July for the fall semester charges and beginning in December for the spring semester charges. Financial aid will credit the account as funding is received. Refunds of financial aid received above university charges will not be made until the student’s aid is received and the student’s costs are completely covered.
Outside (non-university) awards are credited to a student’s Bursar account after checks are received by the university, but not prior to the first day of class each semester. TU’s payment policy requires that arrangements for payment of term expenses be made prior to the first day of classes.
During the fall and spring terms, if financial aid does not cover all expenses, either payment in full or enrollment in a monthly payment plan is required. More information on these options are available from the Bursar’s Office.
Things That Can Prevent You From Getting Your Award
Your eligibility for aid is based on your educational costs, your enrollment plans, your financial need, and the availability of funds at the time of your award. If any of these factors change after your original award has been made and/or disbursed, it may cause an adjustment to your eligibility and/or mean you’ll need to repay some or all federal, state, university and/or private disbursements that you are no longer eligible to receive.
- Failure to attend class throughout the semester: If you enroll for classes and you do not withdraw, yet you fail to attend class throughout the semester, you may be required to return funds to The University of Tulsa’s Bursar’s Office. Your financial aid eligibility will be recalculated based on the last date of attendance as reported by your instructor(s). Any aid based on classes for which attendance cannot be determined will be returned to the aid programs. You will be required to repay all aid returned.
- Note: Nonattendance does not constitute withdrawal. If enrolled in classes and the student chooses not to attend, it is the student’s responsibility to withdraw from those enrolled classes to avoid tuition and fee charges.
- Not meeting multi-year scholarship requirements: You may have to complete a specific number of hours and attain a specific GPA each academic year to retain the scholarship. If you are unsure of the requirements, review your scholarship award information and acceptance form or contact the department or agency who granted you the award.
Take Action Now If Any Of These Apply To You
- Did you receive any non-TU scholarships or awards?
- In general, students cannot receive more financial assistance than their cost of attendance. You may have received awards from private companies, agencies, or other organizations outside TU’s Student Financial Services office. Students should report any form of aid not included on their original award letter to Student Financial Services. Student Financial Services is required to re-evaluate your original financial aid offered. Although we will make every attempt to reduce loans first, in some cases, we must replace other need-based aid such as grants or work-study.
- Did you receive a Federal Work-Study (FWS) award?
- If you were offered Federal Work-Study funding, you can receive money from the Federal Work-Study Program as wages in exchange for hours worked. If you received and accepted an offer of Federal Work-Study, the next step is finding a job. You can review the available work study positions through the Student Financial Services Internal website. You must have a TU ID to access this page. Follow the instructions for more information on securing a Federal Work-Study position.
- Are you eligible for a refund from receiving excess aid?
- In rare cases, the amount of aid you were awarded might exceed the actual cost you owe for tuition and fees for the semester, resulting in a credit on your TU Bursar’s Account. If this happens, the Bursar’s Office will process any refund that may be due to you as a direct deposit to your bank or as a check that’s mailed to you, once all outstanding charges on your TU account have been paid. Please click here for more information on if you are eligible for a refund, or contact the Bursar’s Office at 918.631.2600 or firstname.lastname@example.org.