Awards, Adjustments, Disbursements & Refunds
Awards
Financial aid offered before the term census (i.e. the last day to drop with a tuition refund for the longest session of the fall, spring, or summer term) is based on anticipated full-time enrollment. Awards may be reduced after the term census for students enrolled in less than 12 eligible credits.
Students are encouraged to register for all courses they wish to take during the entire semester by the term census because grant eligibility is calculated based on enrollment as of the term census. Grant aid will not be increased for classes added after the term census.
Late financial aid applicants who are awarded for the first time after the term census will only be awarded once they are enrolled and their award will be based on their enrollment at that time. If you are a late financial aid applicant and are unable to make payment arrangements before the payment deadline, you should register for all the courses you plan to take during the semester at one time and then contact the Financial Aid Office immediately after you register to have your aid eligibility determined.
Adjustments
The Financial Aid Office begins adjusting financial aid for students enrolled in less than 12 eligible credits on the day after the term census (i.e. the last day to drop with a tuition refund for the longest session of the fall, spring, or summer term). The adjustment process is typically completed about 2-3 weeks after the term census. You will be notified if your aid is adjusted and you will be able to view the updated award in your myNOVA account.
Log into your myNOVA account and select "CLICK HERE to see Pending Financial Aid Based on Actual Enrollment" to review your actual pending aid. Then review your charges for the semester and pay any remaining balance by the payment deadline. Information on NOVA’s Payment Plan and other payment options is available here.
Please note that after the adjustment process, your aid may still be reduced or cancelled if you drop, audit, or do not attend registered courses past the course census date. You may also have to repay financial aid in accordance with the Return of Title IV Financial Aid Funds Policy if you do not attend the entire period for which you were scheduled to attend or if you withdraw from all courses prior to completing at least 60% of the term.
Disbursements
Most federal and institutional aid is disbursed 2-3 weeks after you have attended at least 6 eligible credits past the course census date if you do not have any holds or incomplete To Do List items on your NOVAConnect account that prevent disbursement.
State aid is disbursed after you have attended the minimum number of eligible credits required for the respective state program past the course census date.
Aid for students enrolled in only 1-5 eligible credits is disbursed after they have attended past the course census date.
No aid is disbursed before the term census (the last day to drop with a tuition refund for the longest session of the fall, spring, or summer term).
At the time of loan disbursement, students must be currently attending at least 6 eligible credits past the course census date or they must have already successfully completed at least 6 eligible credits during the term.
Refunds
As indicated above, financial aid is typically disbursed to your student account about 2-3 weeks after the term census (i.e. the last day to drop with a tuition refund for the longest session of the fall, spring, or summer term). However, it may take an additional 1-2 weeks after disbursement to receive any refund for excess financial aid depending on the refund preference selected.