Award Payments
Payments of Financial Awards
It is the policy of Belmont Abbey College to disburse one-half of an academic year award (excluding FWSP) during the semester registration period. No awards will be released until the student has a signed award letter acceptance copy on file in the Financial Aid Office. If the award includes loans, the student is also required to complete and sign a master promissory note and loan entrance counseling interview (see Direct Loans) before loan proceeds may be disbursed.
Loan funds, federal, state, and BAC grants and scholarships are transferred electronically and credited to the student’s account. No cash is disbursed. However, if the student has a credit balance in the account after all fees have been paid, a refund will be issued on a Wells Fargo debit card in the student's name.
If your offer of financial assistance includes employment under the provisions of the Federal Work Study Program, it must be understood that the amount shown for this category of aid is the amount of money you may expect to earn during the academic year as a result of work performed. FWSP recipients must report to the Human Resources Office during registration for job assignment and clearance. This must be done each academic semester. Students are paid monthly by check for each hour worked. A payment schedule is furnished to the student at registration.
Download the BAC Awards Policy Statement (PDF)
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