*** NEW For 2019-2020 *** - At Cal Poly, Financial Aid must first be applied to any unpaid charges for Regular Registration-Tuition Fees, University Housing and Campus Dining for the term/quarter before any funds can be refunded to the student. Depending on the amount of Financial Aid offered and accepted, the grace period for making a payment may be extended ("deferred") until financial aid disburses into the Student Account one week before classes begin. If you qualify for a deferred due date, any remaining balances, after financial aid disbursement, will be due immediately.
In order for your Financial Aid to defer any of your Housing costs for the quarter, you must have been offered and accepted enough aid to cover all of your Registration and Tuition fees first. Financial Aid can only be used to defer Dining charges if you have been offered and accepted enough aid to cover All Registration and Tuition fees and 100% of Housing charges for that quarter. If you want to receive a Financial Aid Refund, you must have been offered and accepted financial aid in excess of ALL Registration and Tuition fees as well as 100% of both Housing and Dining charges for that quarter.
Once Housing and Dining Charges have posted (in early August), the phrase "Deferred by Financial Aid" will appear next to each balance amount (on both Money Matters and Share My Information) once you have accepted enough disbursable financial aid. This will indicate that the Due Date for the first payment of that quarter is extended until financial aid disburses. For Fall 2019, that would mean that the September 1st installment on Housing or Dining would not have to be paid until after your aid has applied to those charges for that quarter.
**Please Note: Federal Work Study and cash payments cannot be included in the deferment calculation.
***Please Note: Housing and Dining costs are higher during the Fall quarter based upon the longer occupancy period and other factors but Financial Aid is divided evenly over the three quarters. As a result, students that accept the amount of Financial Aid indicated above to defer housing or housing and dining can expect to have a small amount of excess Financial Aid in the Winter and Spring quarters. Also the amounts above do not factor in loan fees deducted by lenders and indicate the required 'net' financial aid.