Disbursement of Financial Aid

For semester-based enrollment, financial aid is disbursed twice a year; at the beginning of the fall semester and at the beginning of the spring semester approximately one week after the close of Drop/Add period.  For term-based enrollment, financial aid can be disbursed up to six times during an academic year: at the beginning of each term during the Fall, Spring and Summer semesters.

All financial aid, including student loans, will be applied as a credit to the student’s billing account after registration is verified for that semester and/or term. It is the student’s responsibility to apply for the Federal Direct Loan(s) and to complete all necessary paperwork in a timely manner. Regarding the disbursement of student loans, all Direct Stafford Loans must be accepted by the student on the LOIS network portal at lesley.edu/lois, promissory notes must be signed and initial entrance counseling completed for these loan funds to be credited to a student’s billing account. Information about the completion of the Federal Direct Loan process can be found on the Financial Aid Office website at lesley.edu/lois. Massachusetts No Interest Loan promissory notes and entrance counseling information and directions are e-mailed directly to awarded students and must be completed prior to disbursement. Once all financial aid is posted to the account, any remaining credit balance will be refunded to the student within ten business days by the Student Accounts Office.

Changes to enrollment status may impact eligibility of students receiving financial aid, causing a reduction or cancellation of their financial aid award. At least half-time enrollment is required for the Direct Stafford Loan program. A student is not eligible to receive Direct Stafford Loan funds as a less-than-half-time student.