On Friday, September 17, 2021, financial aid will begin to disburse (pay) to your student account based on course attendance verification by your professors.
What You Need to Know
Financial aid amounts are based on the number of credits for which you are registered:
- Federal Pell and SEOG Grants are pro-rated based on enrolled credits.
- Federal student loans require half-time enrollment.
- Six (6) credits for undergrads and three credits for graduate students
- NJ State grants require full-time enrollment.
- Montclair merit and scholarship funds require full-time enrollment per your Program Contract.
What Does this Mean?
If you are not enrolled full-time, you may see one or more aid amounts reduced when the aid is applied to your bill.
Other Important Things You Need to Know
Professors must confirm that students are attending class before federal financial aid is disbursed.
What Does this Mean?
- Once we begin disbursement, your financial aid is applied to your student account. This is a rollout process, with partial disbursements applied over time.
- Pell and SEOG begin paying with one class verified.
- Subsidized, Unsubsidized, and Parent or Grad PLUS loans will disburse with half-time status – six (6) credits for undergrads, three (3) credits grad students.
- Disbursements run every night.
What You Might See in Your Student Account Balance
Important Clarification: Student Accounts begins with estimated financial aid applied to the balance. When the disbursement process begins, the estimated funds are removed and your balance may show an increase. REMEMBER: This is temporary. As disbursements are applied, your balance due will change.
Will this Change My Payment Plan? Yes.
- Beginning Thursday, September 16, 2021, payment plans will automatically recalculate on a weekly basis.
- If estimated aid is removed and not disbursed prior to the recalculation of your payment plan, your monthly payments will increase. This is also temporary.
- When all of your aid is applied, your payment plan amount will decrease.
What about Refunds?
If your payments, including deposits and aid, exceed your tuition, fees and room and meal plans charges for the fall semester, you will receive a refund.
- Student Accounts will begin processing refunds to students on Monday, September 27, 2021 and once a week thereafter.
- Direct Deposit ensures the quick and safe delivery of the refund to you. You must enroll via NEST. Learn More about Direct Deposits.
Remember: It’s a Process
This takes a bit of time and we ask for your patience. All enrollment status and attendance verification has to be processed before disbursement can begin.
If you have not yet filed for financial aid, you can still do that for the 2021-22 year at: fafsa.gov