Making Payments
Payment Work Sheet
Payment Options
How Aid Pays
Credit Balances
Hope Scholarship

How Does My Financial Aid Pay My Account?
Here is a guideline of what to expect with the various types of aid.

*If you have outstanding disbursement requirements, the following schedules will NOT apply. You must complete all requirements before any of your aid (other than merit scholarships) will be released to your account. Check BanWeb to see if you have any outstanding requirements.

Institutional Scholarships and Grants
For the most part, institutional merit scholarship, grant, and loan money (Pell Grant, SPU Grant, SEOG Grant) will be automatically applied to your account 10 days prior to the start of each quarter.

State and other non-SPU Scholarships
Students may select through the State of Washington Student Directive form to have the funds electronically disbursed or disbursed through a check. If you select electronic disbursement the funds are automatically credited to your student account at the beginning of each quarter, provided all requested documents have been submitted to SFS, you are registered for the number of credits upon which your financial aid award was based, and verification (if required) has been completed. If you select a check the funds will be available by mail or direct deposit, at the beginning of each quarter, but will not directly pay your student account provided all requested documents have been submitted to SFS, you are registered for the number of credits upon which your financial aid award was based, and verification (if required) has been completed; you will be responsible for any owing balance and if applicable late fees.

Most of the scholarship checks from other outside (non-SPU) sources will come to the University and be automatically applied to your account each quarter. However, some organizations will require that you endorse the check. We will notify you if you need to come in and sign for one of your outside scholarships.

Perkins, Institutional, and Nursing Loans
These loans are administered by SPU. Prior to receiving these funds, you must complete and turn in a promissory note and other related paperwork. If you submit your paperwork in time, your funds can disburse 10 days prior to the start of the quarter. These funds will NOT disburse until we have received all completed paperwork necessary for these loans. The paperwork needs to be filled out once every year. Once you have completed the paperwork for an academic year, the funds will be automatically applied each quarter.

Subsidized and Unsubsidized Loans
These loans are borrowed from commercial banks. The majority of the banks we work with will send us the funds electronically, 10 days before the start of the quarter. You must have all paperwork in order at the bank AS WELL AS all requirements met at SPU before the bank will send the funds.

If you happen to choose a bank that does not participate in Electronic Funds Transfer (EFT), you will need to come in and sign a paper check before the money can be applied to your account.

Alternative Loans
Depending on the program you choose, your money may come either paper check or electronically. If everything is in order and the money comes electronically, it can be disbursed up to 10 days prior to the start of the quarter. If the money is paper check, you will need to endorse the checks on or after the first day of the quarter.

PLUS Loans
Most PLUS loan money will come EFT, 10 days prior to the start of the quarter, as long as the student's file is complete. This money will be disbursed directly to the student's account.

Some PLUS loan money will come as paper checks, made co-payable to SPU and to the parents. We will endorse the checks and mail them to the parents within the first week of the quarter, or as we receive them from the bank. The parents should then deposit the money in their personal bank account and write SPU a check for the amount to be applied to the student's account.

Work Study
Work study is the expectation that the student will work, not a guaranteed source of funds. If work study is needed to pay the balance of the account, the student is responsible for paying SPU out of his or her wages.