Frequently asked questions about financial aid disbursements

SNHU operates on a trimester model for our online undergraduate students. Each trimester is 16 weeks long, consisting of two 8-week terms. Starting in the 3rd week of each 8- week term, the Student Account Center (SAC) will only display charges, discounts, and payments once aid is posted. Funds received are credited to the first term of the trimester. You may see funds being adjusted and moved for the 2nd term during processing. Once completed, your excess funding is sent to BankMobile.

Once your SNHU enrollment has been confirmed and certified, financial aid begins to disburse in week 3 of the term (SNHU disburses on a trimester model and financial aid always disburses to the 1st term in the trimester). Once your tuition has been paid with your financial aid, and if a credit balance results, it will then be transferred to BankMobile within 14 days.      

Financial aid funds will always post to the first term of the trimester. SNHU operates on a trimester model for our online undergraduate students, consisting of two 8-week terms, for a total of 16 weeks. Your funding is reviewed and applied to the balance on your active term. This review takes up to 3 business days. Once completed, we will then send any excess funds to BankMobile within 14 days of a credit balance appearing on your account. To review your account details please login to the Student Account Center.   

Enrollment changes may impact your financial aid eligibility. In these cases, you may see adjustments to your offer letter to make sure your funding is accurate. Example of an enrollment change may be that your financial aid was estimated at enrollment in 6 credits and then you dropped a class to 3 credits or maybe your estimated financial aid was for 3 credits and then you added a class to 6 credits)

The disclosure statement from the Dept. of Education informs the borrower of the date(s) the loan funds are expected to be disbursed, the anticipated disbursement amounts, and discloses certain loan terms and conditions. The date on the form is NOT the date when you will receive your excess loan funding, but when SNHU will start to process these funds to your account. Once funds are applied to your account and a credit balance/refund is created, it will go out to BankMobile within 14 days.

Unfortunately, SNHU is not able to expedite this process. We understand this is important, and our teams are working diligently to process all accounts as quickly and accurately as possible.

While students are learning to navigate our new systems and reaching out for assistance, this has created extended wait times. We provide multiple options to reach us by phone, text, chat, and email. We encourage you to use the option most convenient for you. Your success is very important to us. Our Finance Counselors are here to assist you and we appreciate your patience.

SNHU can help you calculate your estimated excess loan funding. However, we must wait until your excess funds are scheduled to go to BankMobile to provide a more specific dollar amount. Prior to disbursement you can estimate an excess funding by subtracting your estimated financial aid award from your pending charges. Remember, any adjustments to enrollment may impact these estimates.

A secure payment is required before students can register. Students paying their tuition out-of-pocket must make payment prior to registering. Students intending to use financial aid through the Department of Education can register after they have been awarded. Students using employer reimbursement can sign up for a Deferred Tuition Plan and, once verified, can then register.
Please note that unpaid balances can result in a financial hold being placed on your account and deregistration from future courses. If you have any specific questions, please connect with Student Financial Services.

Serving you where you need to be served is SNHU's primary focus. You can reach us through various modes of communication, such as phone, email, chat, or text. Please note that reaching out multiple times does not speed up the response rate. Rest assured, contacting us through any of these channels will secure your place to receive a response as soon as possible.

Our Finance Counselors can review your account details; however, they are unable to specify the exact amount of your excess funding until it has been fully processed and scheduled to go to BankMobile. Please be assured that we are committed to providing you with accurate and timely information.

Any changes to your enrollment can affect your financial aid. If you are required to be a full-time student, please connect with your Advisor to discuss enrollment changes. Our Finance Counselors can help with questions about adjustments to financial aid based on enrollment changes. We are available M-F 8am-8pm EST and Sat/Sun 9am-8pm EST