Financial Aid and Scholarships

Getting Your Aid: Newly Admitted Undergraduate Students

Costs  |  Aid Programs  |  How to Apply for Aid (FAFSA)  |  How to Apply for Aid (DREAM)  |  After you Apply  |  Award Notification  |  Getting your aid  |  Keeping your aid 

 

Your aid package covers the full academic year; however, release of your aid is split into two separate disbursements - one for each semester.

For the majority of students enrolled in classes, accepted financial aid will automatically be credited to student bills 10 days prior to the start of classes – each semester. 

In order for your financial aid to be released for payment of university charges, you must: 

  • Have an Award Summary that contains “Official” awards, as opposed to estimated awards.
  • Accepted the Awards on Your Award Summary.
  • Complete your To-Do List on MyCPP Student Center.
  • Loan borrowers – complete the required loan steps for new borrowers (see Loan Information).
  • Enroll in classes.
  • Be maintaining Satisfactory Academic Progress (SAP) (see Understanding SAP).

If your Award Summary still shows Estimated Awards, review the items on your To-Do List and take action as soon as possible.  If you have any questions on outstanding items, contact our office during regular business hours. 

If your Award Summary has been finalized, but you have not accepted your loans on MyCPP, your loan funds will not be released.  Be sure to accept your loans, and to complete all required steps for receiving loan funds, so that the funds are able to be applied towards your charges.

Pending Financial Aid is the amount of aid Cal Poly Pomona expects to credit to your student account; it is displayed on your MyCPP Student Center so that you can see how much aid is anticipated for the semester, and how much you will need to pay toward your account balance.  

Once you register for classes your tuition and fee charges for the semester will be added to your account.  Tuition & fees are typically due prior to when financial aid is released; however, if your aid summary has been finalized, your financial aid will show as Pending Financial Aid and will postpone the required payment of that portion of your tuition and fees until your aid can be released.  

  • If your pending financial aid is greater than your tuition and fee charges, you do not need to make any payment towards your tuition and fees prior to your aid being released.
  • If your pending financial aid does not fully cover your tuition and fees, you must pay the difference out of pocket by the fee payment deadlines to avoid having a registration hold placed on your account.
  • If you have signed up for an installment plan – you are still required to make any payments that are due until your financial aid is released.  Pending financial aid does not defer your installment plan payments.   

Note:  Financial Aid cannot be used to pay your enrollment deposit 

If you have not been awarded financial aid, or have no pending aid displayed, by your fee payment deadline, you will need to contact Student Accounting & Cashiering Services to make payment arrangements and avoid cancellation of your classes.

Be sure to also review our Financial Aid Policies Page for our policy on Withdrawal, Refund and Repayment.inancial Aid Proration and Census Adjustments.

Most financial aid funds are released to Student Accounting & Cashiering Services – and applied toward any outstanding university-related chargesincluding any installment plans. The first possible date funds can be released is 10 days prior to the first day of classes – each semester. 

Initial Release Dates for Financial Aid

For 2020 – 2021 Academic Year:

Aid will begin being released on the following dates: 

  • Fall 2020:  August 10, 2020 
  • Spring 2021:  January 13, 2021 

After the above dates, financial aid is released on a nightly basis throughout each semester. 

2021 - 2022 Academic Year:

Aid will begin being released on the following dates:

  • Fall 2021:  August 9, 2021
  • Spring 2022:  January 12, 2022

 After the above dates, financial aid is released on a nightly basis throughout each semester. 

Aid on a Varying Disbursement Schedule 

Some aid programs follow a different release schedule than institutional grants or federal loanswhich follow the standard schedule listed above. 

External Scholarships  

  • External scholarships are posted to your account as a credit once the donor or agency has sent the funding to Cal Poly Pomona.  Once Student Accounting & Cashiering Services receives your scholarship check, your scholarship will be posted to your account.  If there are no outstanding Cal Poly Pomona charges on your account, funds will be issued to you through a refund (Direct Deposit or by paper check).  
     
    NOTE:  The earliest scholarship funds can be released is the initial release date for each semester; funds cannot be released prior to this date – regardless of when funds are received by the university. 

Scholarships Paid as Stipends  

  • Stipend payments may be released on a multiple payment schedule, rather than all at once. To see the release dates of your Stipend, click on the View Scheduled Disbursement Dates link on your Award Summary screen in your MyCPP Student Center 

Federal Work- Study  

  • Federal Work-Study provides opportunities for employment on campus.  Once you have secured a position, you will be paid on a regular, monthly basis – according to the Cal Poly Pomona payroll calendar.  For more information, visit our Federal Work Study page. 

Private Loans  

  • Release of funds from private loans is dependent upon when that funding is received from the lender.  Once funds have been received at Cal Poly Pomona, they will be released to Student Accounting & Cashiering Services for processing. 

When your financial aid is released to Student Accounting & Cashiering Services, your aid is applied towards any university charges that are on your account for the semester: 

Key Items to Remember

  • Aid offered is based on the expectation of full-time enrollment (12 units per semester).  
  • If you are enrolled in less than 12 units at the time your funds are released, your grant amounts may be adjusted. Review the award information and impact of enrollment on Aid Programs for more details. 
  • If your financial aid does not pay all tuition and fees, or is cancelled, 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 and a registration hold placed on your account. 

For details on how to review your Cal Poly Pomona charges and payment due dates on MyCPP, refer to the Understanding Your Student Account guide.  

Once your financial aid has been applied toward your university chares, any remaining credit balance will be released to you as a Financial Aid Disbursement (or refund).  

You will receive an email from Student Accounting & Cashiering Services once your refund has been issued.  Additionally, on MyCPP, when you see a transaction posted on your student account that reads Financial Aid Refund, you will know your refund has been generated. 

It takes up to 3 business days from the date of your Financial Aid Disbursement for the funds to show in your bank account. Be sure to sign up for Direct Deposit as this is the fastest, and most secure, way to receive your funds.   Review the Student Accounting & Cashiering Services website for instructions on signing up for Direct Deposit 

PLEASE NOTE: If you do not sign up for Direct Deposit a check will be sent to the address on file with the university by regular mail.  It normally takes at least 10 to 15 business days for postal delivery of your refund check.  Direct Deposit is a much timelier and secure method as funds are typically available in your bank account within 48 – 72 hours. 

A Few Important Notes About Refunds 

  • If your parents borrowed through the Parent PLUS Loan program, excess funds will be issued as a check and mailed to the parent borrower. 
  • Not cashing a refund check does not cancel any loans you have been awarded.  Contact our office for details on how to cancel your loans. 
  • If you made a personal payment toward your university charges prior to your financial aid 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 
  • If charges are added to your account after your refund has been issued, you are responsible for paying the charges. 

Release of your financial aid is dependent upon your financial aid file status AND your enrollment. If your file is not complete in time for the first possible release of funds – we will release your aid once your file has been completed (and reviewed), all items on your To-Do list have been cleared, and you have registered for your classes (half-time status is required for financial aid to disburse). 

Examples of reasons your aid may not be released as scheduled

Outstanding items on your To-Do list

Please review your To-Do List in your MyCPP Student Portal to make sure that you do not have any outstanding documents being requested from you.

Enrollment

The amount of units that you are enrolled in may prevent your financial aid from being released. Your financial aid is based on your eligibility and need, as well as specific unit requirements for each item. Please review the Undergraduate Aid Programs page for more information.  

NOTE: Wait-listed classes do not count in your enrollment status for the release of financial aid. Once your enrollment in a class is “Official,” the class will factor into your enrolled units for financial aid purposes.