Aid and Your Bill

The Financial Aid Office assists students and families in financing a RISD education. 

The Student Accounts Office sends out bills and accepts payment for student accounts. Students are billed for tuition and fees based on their enrollment for the semester. Those who live on campus are also billed for their room and board charges. The office also assists students with questions or concerns regarding their tuition, fees and related costs, as well as financial deposits to tuition or departmental accounts.

How Aid is Applied to Your Bill
Financial aid is awarded for the entire academic year.  When you receive your tuition bill each semester, it will include half of the total financial aid you have been awarded. Below is some information regarding specific types of awards:

Federal Loans (Direct Subsidized and Unsubsidized, Graduate PLUS, Direct Parent PLUS)
Federal regulations prohibit any federal loans from being disbursed prior to 10 days before classes begin.  When you receive your first billing statement from Student Accounts your federal loans will be listed as pending so that you can accurately determine any remaining balance due.

Federal Direct Parent PLUS Loans will credit to your account 10 days before classes as long as the borrower has completed a Master Promissory Note.

All other federal loans will credit to your account 10 days before classes as long as you have completed a Master Promissory Note, Entrance Counseling and have submitted all verification documents if required.

RISD Scholarships and Grants
RISD scholarships and grants will be credited to your account prior to your first bill being mailed by Student Accounts.

Refund Policies
Students whose total disbursed financial aid exceeds their direct costs will receive a refund for the excess funds.  These refunds are to be used for education-related expenses such as room, board, transportation and supplies.  Refunds are generally available from Student Accounts approximately two weeks after the start of class so it is important to budget your expenses appropriately. Refunds are issued in the student's name and placed in the student's RISD mailbox except when the credit is caused by a Federal Direct Parent PLUS Loan.  These refunds are in the parent borrower's name and mailed directly to the parent borrower.

Outside Scholarships
Students that receive outside scholarships are required to notify the Financial Aid Office.  Although we consider these scholarships as part of your total financial aid package, they do not appear on your bill as pending and will not show up until a check has been received.  

Private Education Loans
Private education loans are certified for the entire academic year, which means half will come in for the Fall semester and half for the Spring semester.  These loans will appear on your account as pending until the lender sends the loan funds to RISD.  No loan funds can be received earlier than 10 days prior to the start of classes.  

Timeline
Bills are typically mailed in the first week of July with a due date of August 15.