Apply for Aid
Repayment Process
REPAY
If a student's aid is in the form of loans, they must repay these loans and become familiar with the repayment process. Student loans, unlike grants and work-study, are borrowed money that must be repaid, with interest, just like car loans and mortgages. A student cannot have these loans canceled because he or she didn't like the education they received, didn't get a job in their field of study, or because they are having financial difficulty. Loans are legal obligations, so before a student takes out a student loan, he or she needs to think about the amount they'll have to repay over the years.
NOTE: If a student will not attend CSUSB, he or she must drop all classes through MyCoyote, before the 1st day of the quarter, or they will be liable for their fees. A student who withdraws during the quarter and has received financial aid may be required to repay the funds not used for educational expenses. A copy of the repayment schedule is located in the quarterly class schedule.
**WARNING: The amount of financial aid you are eligible to receive is based on your unit enrollment by Census Date of each quarter.
Financial Aid Refund and Repayment Policy
If Receiving Federal Financial Aid Read This Before Dropping Classes
A repayment will be owed to the university if a student drops all classes before the 60% point of the term!!
Effective September 1, 2000 Federal Financial Aid regulations are very strict concerning dropping classes after receiving Federal Grant Aid. As a student, you are expected to complete a minimum number of units per term. If you drop all classes prior to the 60% mark of the term, you will owe a repayment based on the following chart of percentages. Once your repayment has been calculated, you have 30 days to repay the funds.Federal Financial Aid regulations also state that you may not pay a prior debt with future financial aid. This means that you must repay the amount due prior to receiving future financial aid.Before you decide to drop your classes, visit the Financial Aid Office in University Hall and make an appointment with your Financial Aidadvisor. Your advisor will calculate your expected repayment of Federal Grant Funds and will explain your options.
Calculating Repayments
When you drop your classes, you will have a certain number of days that you will not attend classes. Those days are turned into a percentage called '% Unused Funds'. For example, let's say you drop all your classes for the Fall 2008 Term on Monday, October 8. The Chart available in the Financial Aid Office, indicates that you will owe an 76.25% repayment of Federal Funds. If you had received $1,000 in Federal Grant Funds, you will have to repay $762.50 back to the Federal Government within 30 days. This repayment must be paid prior to receiving Financial Aid for the NEXT term. The Federal Government does not expect a repayment after the 60% point of a given term. All students are encouraged to contact the Financial Aid Office prior to dropping all classes to determine if there will be a financial repayment to the Federal Government.
Financial Aid Cancellation
If the student fails to meet any of the requirements for continued eligibility for financial aid, the award will be canceled. Aid eligibility may be in jeopardy if the student:
- Does not successfully complete the required number of units per the agreement for enrollment
- Uses financial aid for other than educationally related expenses
- Provides false or misleading information or
- Fails to report any major changes in resources to the CSUSB Financial Aid Office.
- Students canceled will be notified of the reasons for such action prior to withdrawal of aid.
- Protect your eligibility. Know your rights and responsibilities (see Apply for Aid ->Eligibility)
Financial Aid Office