Click here to enroll via the Sallie Mae website 


DISBURSEMENTS

Financial aid disbursements (excluding Work Study) are processed every Friday (with the exception of holidays). Per federal regulations, refunds are released no later than 14 calendar days after your financial aid disbursement posts to your account and all applicable college charges have been paid. The Office of Student Financial Services will disburse refunds to students after the Office of Financial Aid determines eligibility and authorizes disbursement.

ELIGIBILITY BEFORE DISBURSEMENT

Before disbursing Federal Student Aid funds, the Office of Financial Aid will make sure that you have completed all necessary steps in the financial aid process and any other steps required by the lender of any loan you have accepted. Disbursements are based on the number of credit hours you are enrolled at the time disbursement is processed. For loan programs, you must be enrolled at least half-time at the time of disbursement. Your Pell Grant will be prorated based on your enrollment at the time of disbursement.

CREDIT BALANCES

A financial aid credit balance occurs after the college charges are paid in full, refunds will be generated through the Office of Student Financial Services that can be used to pay for other costs associated with your education. Visit www.paine.edu, click Quick Links, select PaineNet, enter username, password and follow instructions to check your student account.

HOW IS AID DISBURSED?

All financial aid is disbursed in two installments. One half of the total is disbursed each semester and applied toward charges on the student account (tuition and fees, room and board, and/or other college charges). Any transaction in which a financial aid credit exceeds charges for the term will generate net loan proceeds.

HOW WILL I RECEIVE MY REFUND?

Beginning fall 2011, all student refunds will be processed through Sallie Mae. Sign up at: https://bosebill.salliemae.com/NetPay/EBPP/Paine+College/Paine/Academic+Affairs/1257/EBPP.aspx save time and get your money faster by choosing to receive your refund by Debit Card.

WHEN CAN I SIGN-UP FOR MY REFUND DISBURSEMENT?

You can begin signing-up for your refund disbursement NOW.

WHAT IS THE FASTEST WAY TO RECEIVE A REFUND DISBURSEMENT?

The fastest way to receive your refund is to choose the Sallie Mae Debit MasterCard®. With the Debit MasterCard® you can:
  • Transfer your balance into a bank account of your choice from the online application.
  • Make purchases anywhere that Debit MasterCard® is accepted.
  • Withdraw money surcharge-free at any Allpoint™ ATM machine

HOW CAN I CHECK MY ACCOUNT BALANCE?

Log in to www.paine.edu, click Quick Links, select PaineNet, enter username, password and follow instructions to check your student account or visit the Office of Student Financial Services, Haygood-Hosley Hall, Room 110. The Federal Family Educational Rights and Privacy Act (FERPA) prohibit Paine College from disclosing a student’s financial status without the student’s written consent.

WILL I HAVE AN OPTION TO RECEIVE A REFUND CHECK FROM PAINE COLLEGE?

No. All student refunds are processed through Sallie Mae, not on campus.

For questions concerning your Sallie Mae No Fee Student Checking, please visit banking.salliemae.com or contact Customer Care at 877-346-2756. Specialists are available to assist you Monday–Friday, 8 AM–8 PM Eastern Time. 24/7.


IT IS NECESSARY THAT ALL PAINE COLLEGE STUDENTS RECEIVE A PAINE COLLEGE EMAIL ADDRESS AND CHECK IT PERIODICALLY