When do you disburse your scholarship funds? Timing of scholarship fund disbursement
When do you send scholarship checks to your recipients' school/university/college etc? Is it possible to send funds in May?
In the past I have disbursed the funds for new recipients and renewal recipients in August/September. However, my boss was wondering if we could disburse the funds right after making awards, so in May/June. I don't think that should be an issue for students already in college because they will already have a student ID, but will Financial Aid Departments be able to accept funds in May/June for new students starting in the Fall? I know May 1st is the acceptance deadline for most schools, but how far after that do schools give students their official Student ID? The funds will be disbursed with a grant letter informing the school what student and semester to use the funds for.
Thanks in advance!