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September 21, 2009

 

Financial aid disbursements rise

Sacramento State disbursed almost $46 million in financial aid this summer for the fall semester, says Financial Aid director Craig Yamamoto. That’s an increase of $11 million in loans and grants from the fall of 2008.

The increase is due to both a rise in the amount of disbursements and the number of students receiving aid. A total of 9,935 students received financial aid, 742 more than last year. They also had 3,000 more students applying for aid this year than last.

The Financial Aid Office accomplished this despite facing a number of hurdles. Because the CSU imposed two fee increases this year, the office had to re-package aid requests for each change. The University also converted the student loan program from the Federal Family Education Loan Program to a direct loan program. That change helped streamline the loan process. Yamamoto says there are now fewer people and financial agencies involved with the approval process, which greatly reduces the chance of error in the paperwork.

His office also had to deal with a number of staff vacancies and institute furlough days, all while re-figuring and modifying these crucial programs.

“We were on pins and needles to get it done before the first check disbursement,” Yamamoto says, “but we were able to accomplish this major increase despite the extra work.”

Disbursements cover a variety of student needs – fees, books, supplies, and housing.


 


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