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Stipend Disbursement Schedule
Under certain circumstances it may be necessary to disburse unrestricted aid using installments. This is usally associated with stipends that are not considered compensation, but, rather associated with a fellowship or a student’s scholarly efforts.
Staff should use extreme care to make sure the dollar amount awarded matches the "Disbursement Plan" and "Split Code". For example, if you are awarding a $1,000 stipend for Fall only be sure to use the "MF" (Multi-Installment Fall Only). If you are awarding $2,000 that covers Fall and Spring use "MA" (Multi-Installment Acad Yr (FS)). Once an award is validated you can use the "Disbursement" link to reveiw the disbursment schedule which will include amounts.
Even though every effort was made to mirror the bi-weekly payroll schedule when posting the installment credit to a student's account, please keep in mind that the credit posted will first pay any outstanding balance a student has for the term. Any remaining credit will be refund to the student according to the published refund schedule. Student's should sign up for direct deposit to get their refund faster. Checks are only done once a week, where as, direct deposits are processed daily and usually in the student's bank account in 2-3 days. Checks need to be printed and mailed with an approximate delivery time of 7-10 days.
- Stipends are taxable income to students, however, it is self-reported so UC does not withhold taxes from these disbursments.
- Be sure the "Disbursement Plan" and the "Split Code" match the funding amount.
- It is not appropriate to use the installment option for aid restricted to pay specific fees.
- Be reasonable - small stipends distributed over a number of bi-weekly periods is not necessary or appropriate.
Visit the Catalyst Online Help website for documentation. You can find the Fellowship and Stipend Aid via Installments work aid in Catalyst Student Information System area in the Financial Aid section.