FAQ - Loan Projects

  1. How often are Direct Loan, Federal Work Study, Pell Grants, and FSEOG funds drawn down (requested from the U.S. government and wire-transferred from the U.S. government to the university)?
  2. When does the financial aid detail end for the fiscal year?
  3. What is the source of the monthly Perkins loan collection figures?
  4. Where can I find information (student, RU ID#, amounts, etc.) related to the financial aid upload entries to the G/L?
  5. How often is the Perkins loan detail sent to the University loan servicer (ECSI)?
  6. What is an Emergency Loan Project?

1. How often are Direct Loan, Federal Work Study, Pell Grants, and FSEOG funds drawn down (requested from the U.S. government and wire transferred from the U.S. government to the university)?

Funds for Direct Loans, Pell Grants, and FSEOG are drawn down on a daily basis. Funds for Federal Work Study are drawn down on a monthly basis.

2. When does the financial aid detail end for the fiscal year?

Normally, financial aid detail for each fiscal year runs from around mid-August to the first week of August the subsequent year.

3. What is the source of the monthly Perkins loan collection figures?

The monthly Perkins loan collection figures come directly off the monthly trial balance from the university’s loan servicer (ECSI).

4. Where can I find information (student, RU ID#, amounts, etc.) related to the financial aid upload entries to the G/L?

Contact the Office of Financial Aid.

5. How often is the Perkins loan detail sent to the university loan servicer (ECSI)?

Perkins loan detail is sent to ECSI on a monthly basis.

6. What is an Emergency Loan Project?

An Emergency Loan Fund is a fund primarily established by contributions from outside donors to be utilized by students to offset educational expenses. These loans do not provide more than $500 to a student and are usually used to cover the cost of books, supplies and/or student fees.

 

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