Financial Aid Academic Year and Disbursements
An Academic Year is 32 weeks long and funding payments are split into two equal disbursements per Academic Year, generally made each 16-week term. Payments are delivered to the University from the Department of Education. The funds are then posted to the student’s account. The student is responsible for any balance that financial aid does not cover and must adhere to the tuition payment policy.
When a student begins at Aspen, delivery of the first Title IV funding installment of a loan will occur 30 days after the start of the first day of classes. Returning students receive their first disbursement once the 14-day participation requirement is met. If a student is still active in classes at the time of disbursement funding will be requested from the Department of Education and typically released to the University within 1-5 business days. Once funds are received, Student Accounts will add the funds to the student’s account and issue any credit balances within 14 days from the date the funds are added to the student’s account.