The financial aid award is prepared for a specific credit load and choice of housing.  Changes in enrollment, housing, and/or the receipt of additional funds may necessitate revisions in your financial aid award.

Financial Aid is disbursed through the Business Office. Students receiving financial aid will have these funds applied to their charges (Tuition, Room and Board) and mandatory fees. All accepted financial aid is shown as a credit on the statement. Providing you have made the proper application for each award and submitted the required paperwork, funds will be disbursed either by a direct credit to your account or will be applied to your account after you endorse the check sent to the school by your funding source. Funds credited to your account are subject to revision due to changes in enrollment, housing, or receipt of additional resources.

Stafford and PLUS loans disbursed by electronic fund transfer (EFT) will be posted to the student account on a daily basis upon receipt of the funds.

Loans for those borrowers who did not check EFT on their loan application or whose bank does not participate in ISAC’s EFT process will be sent to Monmouth College in the form of a paper check. Endorsement by the student or parent is required before the loan can be posted to the student account. Notification will be sent to you once your checks are received. 

Loans for first-time borrowers at Monmouth College will not be disbursed until approximately 30 days after classes begin. First-time borrowers include returning students borrowing for the first time, transfer students and first-time freshmen. This is in accordance with federal regulations.

If financial aid does not cover all charges, the net amount will be due to the College.