Disbursement of financial aid
Disbursement of financial aid funds begins following the drop/add period each quarter. The following information is important to the disbursement of financial aid, is in compliance with federal and state regulations and is subject to change.
To be eligible for financial aid funds, students must be enrolled in a degree program and must be enrolled at least half time (some exceptions may apply). Before disbursement of financial aid funds, eligibility is reviewed and necessary adjustments are made based on enrollment, class level and program-specific eligibility requirements.
- Log in to MySCAD and select the "My Info" tab
- Look for the "My financial aid" channel. Click on the "My overall status" link.
- Select the appropriate aid year from the dropdown screen and click "Submit."
- You should see a statement that reads similar to the following: "You have been awarded financial aid totaling $XXXX.XX." Click on the term awarded to proceed.
- You should then be presented with a general information screen. Select the "Terms and conditions" tab.
- Read through the terms and conditions. Agree to the terms and conditions by clicking "Accept."
- The "Accept Award Offer" tab should now be available at the top of the screen.
This allows you to accept any additional funds that are not currently accepted, such as Direct Loans.
Your options include:
- To accept loans for the year, click on the 'Accept Full Amount All Awards' button at the bottom of the page.
- To accept or decline loans by quarter, use the drop-down menu to select 'Accept' or 'Decline' for each quarter (Fall, Winter, Spring and/or Summer).
- To accept a partial loan amount each quarter, select 'Accept' from the drop-down menu and indicate the amount in the coordinating boxes to the right.
- When you are finished, click "Submit Decision" at the bottom of the screen.
- Attendance in all registered classes is verified before financial aid is disbursed.
- SCAD academic and achievement scholarships are prorated by the number of credit hours in which the student is enrolled, require a cumulative grade point average of 3.0 for undergraduate students or 3.25 for graduate students, and may be subject to reduction if living off-campus.
- HOPE scholarship (Georgia state aid) is prorated by the number of credit hours in which the student is enrolled through the drop/add period.
- GTEG (Georgia state aid) requires full-time enrollment.
- Federal grants are prorated by enrollment and may require half-time enrollment.
- Federal loans require at least half-time enrollment. All required documentation, including FAFSA results, must be completed and approval received by SCAD before the loan(s) is disbursed. Specific program requirements include the following.
- Direct Loan: acceptance through MySCAD; master promissory note; entrance loan counseling.
- Graduate PLUS Loan: positive credit check; approved loan application and master promissory note; entrance loan counseling.
- Parent PLUS Loan: positive credit check; approved loan application and master promissory note.
- Detailed information is available at studentloans.gov. Loan proceeds are reduced by the required government fee. Students without access to the Internet can schedule an appointment with their adviser to complete loan entrance counseling and discuss the paper application process.
- Alternative loans (or private loans) require a positive credit check and generally require a least half-time enrollment (exceptions are program specific).
Adjustments made when funds are disbursed, or anytime thereafter, can create a balance due on the student's account which is immediately payable.
Funds are credited to the student account to pay for educational charges incurred. Parent Plus loans are the last funds to be credited to the student's account and credit balances resulting from Parent Plus loan proceeds are refunded to the parent borrower or student if authorization is received.
Authorize the deposit of financial aid
Students or parents may give SCAD permission to pay other fees in addition to tuition, room and board with their federal aid.
Students may also elect to have their financial aid credit balance refunds and other refunds from their student account deposited directly into their checking account.