Financial Aid

Financing Reed

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The Financial Aid Handbook has information for continuing Reed students.

Paying the bill

Disbursement of financial aid funds
Memo balances
Payment plans

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Disbursement of financial aid funds

Financial aid is disbursed to the student's account only after the verification process is complete and the student's eligibility for financial aid has been finalized. Grant, loan, and scholarship funds at Reed College are disbursed to the student twice each academic year. One-half of the award amount will be credited to the student's account in the business office at the beginning of fall semester and one-half at the beginning of spring semester, unless indicated otherwise in the financial aid award offer. Outside scholarships also will be disbursed half in the fall and half in the spring, unless the scholarship donor specifically requests a different disbursement schedule. Students attending only one semester of the academic year will receive one disbursement rather than two.

Financial aid funds are disbursed to the student's account on the first day of classes each semester. If your federal financial aid creates a credit balance on your account, the business office will send you a refund within fourteen days of disbursement. Refund checks are issued on Wednesdays for credits applied by noon Tuesday and on Fridays for credits applied by noon Thursday.

Memo balances

Financial aid that has been offered to you, but not yet finalized, will appear as a memo balance on your statement of account. If you do not complete the verification process or the proceeds from your loan(s) do not arrive at Reed by the start of the semester, you may still be allowed to defer payment on the portion of your charges that will be covered by financial aid. Once the memo balance expires, however, you are responsible for paying the remaining charges on your student account.

Payment plans

Reed has contracted with Tuition Management Systems (TMS) to offer students and families an interest-free monthly payment option. This plan allows participants to spread all or part of their semester or annual expenses over equal monthly payments without interest. TMS provides an expense planner worksheet to help determine the annual amount to be set up. When calculating deduction from the expenses on the expense planner, federal work-study award amounts and the loan processing fees for the Direct and PLUS loans should be excluded. The only cost to participate is a small annual enrollment fee. The business office has information about this program.

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