How Financial Aid Pays Your Cal Poly Pomona Charges
When your financial aid is released to Student Accounting & Cashiering Services, your awards pay your charges in the following order:
- Tuition Fees
- Payment Plans
- Financial Aid Disbursement (refund)
Financial Aid Pays Tuition Fees
Your financial aid will be applied to your current tuition charges first.
- The amount disbursed may be different than the amount shown on your Award Offer. Amounts shown on your award offer are based on full-time enrollment (12 units per semester for undergraduate & credential students). If you are enrolled in fewer than 12 units at the time funds are released, your award amounts may be adjusted. Review the information on Units Required for more details.
- If your financial aid does not pay all tuition and fees, or is canceled, you will be responsible for the remaining charges. If the remaining charges are not paid by the fee payment deadline, you may be charged a late fee.
- For details on how to review your charges & payment due dates on Bronco Direct, refer to the “Understanding Your Student Account” guide.
Financial Aid Pays Cal Poly Pomona Housing Charges
If you will live in a residence hall, your outstanding University Housing charges will be deducted from your financial aid - even if you are on a payment plan.
If your financial aid is not sufficient to cover your housing charges for the semester (room & meal plan), you will need to pay the difference according to the dates posted on Bronco Direct.
Financial Aid Pays Payment Plans:
When you sign up for a payment plan (for either Tuition or Housing), you are agreeing to make payments by the payment due dates. If you are going to receive financial aid, but have already signed up for a payment plan, you MUST make all payments that are due until the date your financial aid is released.
When your financial aid awards are released to Student Accounting & Cashiering Services, your awards will be applied toward any outstanding charges --- including any future payments due on your payment plan(s).
|Payment Due||How Financial Aid Impacts Payment|
|Before Financial Aid is released||Your awards do not postpone or waive the payment due date. You must make the payment according to the installment plan.|
|After Financial Aid is released||Financial Aid will be applied toward any future payments due.|
If your financial aid is not sufficient to cover all payment amounts for the semester, you will need to pay the difference according to the dates posted on Bronco Direct.
Financial Aid Disbursement (Refund):
All financial aid will be posted to your university account. If your award amount is greater than your outstanding charges, the balance will be refunded to you via direct deposit through the university’s direct deposit process. Refer to the “Direct Deposit Guide” for instructions on how to sign up.
If you made a payment on your Cal Poly Pomona charges prior to your financial aid awards being released, and your financial aid would have been sufficient to cover your charges, you will receive a refund of your payment; however, there is usually a 3 – 4 week processing time involved in issuing refunds of payments. For more details, contact Student Accounting & Cashiering Services.
Be Prepared: You May Need Money Before You Receive Your Disbursement:
The earliest date your financial aid disbursement will show in your bank account is generally during the week before classes begin.
|Semester||Earliest Day Financial Aid Disbursement Will Appear in Your Bank Account|
|Fall 2019||Wednesday, August 14, 2019|
|Spring 2020||Friday, January 10, 2020|
Be aware of your Cal Poly Pomona charges (tuition, fees, housing) and whether or not your accepted financial aid awards (which includes student and parent loans you have accepted) are enough to pay those costs.
We recommend having enough money set aside to get you through the first week of classes – in the event of a delay in receiving your disbursement. Typical expenses include:
- Personal Expenses