Navigating Financial Services at Arizona State University: A Comprehensive Guide
Embarking on higher education is a significant investment, and understanding the financial landscape is crucial for students and their families. Arizona State University (ASU) provides a range of financial services and resources to help students navigate the complexities of funding their education. This guide aims to provide a comprehensive overview of these services, covering topics from financial aid applications to payment options and important policies.
Understanding Financial Aid
Financial aid encompasses various forms of assistance designed to help students cover the costs of tuition, fees, books, and other educational expenses. It can come in the form of grants, loans, scholarships, and work-study programs.
The Free Application for Federal Student Aid (FAFSA)
The Free Application for Federal Student Aid (FAFSA) is a cornerstone of accessing financial aid in the United States. It's the gateway to federal grants, loans, and work-study programs and may also determine eligibility for state and institutional aid.
Key points about FAFSA:
- No Income Requirements: There are no income requirements to be considered for federal student aid.
- Graduate Students: Yes, students can file a FAFSA to receive financial aid for graduate school.
- Who Should File: ASU encourages every student to file a FAFSA, even if they think they might not be eligible.
- Deadlines: To be considered for federal student aid for the 2025-26 award year, you can complete a Free Application for Federal Student Aid (FAFSA) form between Oct. Central time (CT) on June 30, 2026. CT on Sept. 10, 2026. However, many states and colleges have earlier deadlines for applying for state and institutional financial aid. Find your state’s deadline.
- How to File: Log in to fafsa.gov.
- FAFSA Status: Your FAFSA status can be found on the “My FAFSA” page, which displays immediately after you log in if you’ve already started or completed a FAFSA form.
- Corrections: To make corrections to your Free Application for Federal Student Aid (FAFSA®), click the Log In button on the home page and log into FAFSA on the Web, and then click Make FAFSA Corrections.
- Key Benefits of Filing:
- It's the only way to receive federal aid.
- You may get additional free aid.
- It's free to file.
- It’s a quick and easy process.
- FAFSA Calendar: The FAFSA will open the October before your academic year begins and close on the last day of the academic year. Be sure to submit the correct FAFSA for the correct academic year. Each academic year requires its own FAFSA.
- Contributors: Starting with the 2024-2025 FAFSA, a new term called “Contributor” has been introduced. A Contributor is someone who is required to provide information on a student’s FAFSA form.
- Student Aid Report (SAR): Your Student Aid Report (SAR) is a document that gives you basic information about your eligibility for federal financial aid.
- Create an FSA ID: Go to studentaid.gov/fsa-id/create-account/launch and follow the steps to create an account. Watch this video for a step by step explanation.
- FSA ID for Contributors without SSN: Yes - Contributors that do not have a Social Security number will still need to create a FSA ID.
CSS Profile
CSS Profile: CSS Profile is an online application used by colleges to award nonfederal institutional aid. The tool helps us determine eligibility and understand your specific financial situation. CSS Profile is available to qualifying domestic noncitizens who are unable to complete the FAFSA.
Financial Aid for International Students
Most international students are not eligible to receive federal student aid, but there are opportunities to find private aid, such as scholarships. citizens and are not residing in the United States on a visa. If you are an eligible noncitizen due to Prop 308, you are not eligible to complete the FAFSA (see FAFSA eligibility requirements). Although international students do not qualify for federal and state financial aid (unless you are an eligible noncitizen), there are still options to help fund your ASU education.
Read also: Arizona Education System
Accepting and Managing Financial Aid Awards
- Accessing Awards: Log in to My ASU and go to the Financial Aid tab. From there you can accept and/or decline your awards.
- Federal Direct Parent PLUS Loan: To accept your Federal Direct Parent PLUS Loan, please follow these instructions.
- Parent PLUS Loan Guest Access: If your parent is attempting to accept the Federal Parent PLUS Loan, students must first grant their parents guest access to accept a Parent PLUS Loan. Your parent will need that validation code in order to complete the activation process. It is very important that all steps are completed in order for the Federal Parent PLUS Loan to process successfully.
- Additional Unsubsidized Stafford Loan: You may request an additional Federal Direct Unsubsidized Stafford Loan by submitting a letter to Financial Aid and Scholarship Services in writing.
- Loan Promissory Note: Completing a promissory note for the wrong type of loan will result in a delay in the disbursement of your loan funds. Log in to your My ASU and check your task list. The specific task will be listed (e.g., 'complete Stafford Loan MPN'). Click on the item and a link will appear in a dialogue box.
Disbursement of Financial Aid
- Disbursement Schedule: Financial aid disbursement begins no sooner than a week before the semester starts.
- Refunds: Financial aid is first used to pay charges on student accounts, with any remaining balance being refunded to the student. If your pending financial aid exceeds your ASU charges due you can expect a refund. Aid disburses about seven days before the start of the semester. Your funds will be deposited to your account about 4 days after your aid is applied to your charges.
- Direct Deposit: Enroll in direct deposit to have your remaining funds deposited into your bank account. At the beginning of the semester, Direct Deposit refunds are processed as frequently as financial aid becomes available. During the rest of the semester, Direct Deposit refunds are processed on Monday, Wednesday and Friday for deposit to your bank account two to three days later. Your student account Direct Deposit enrollment will be active two weeks after enrolling.
- Viewing Direct Deposit Information: You can view your Direct Deposit information and status online at My ASU by selecting Finances then select 'Direct deposit enrollment' in the Tuition profile section on the right-hand side.
- Deactivating Direct Deposit: To deactivate your Direct Deposit Enrollment, login to My ASU, select My Finances in the Quick Links box on the left-hand side, then select Direct Deposit Enrollment in the Helpful Links section on the right-hand side.
- Updating Bank Information: You can change your Direct Deposit information online by logging in to My ASU and select then select the 'Direct deposit enrollment' in the Tuition profile box. Maintaining current bank account information is very important. If the bank reports a problem with the information you provide we will contact you prior to the enrollment becoming active.
- Tuition Credits: Tuition credits are processed through Student Accounts. Tuition credits first pay outstanding charges on student accounts and any remaining balance is refunded.
- Summer Financial Aid: There is no separate summer aid application. Summer disbursement begins in May for students enrolled in session A or C. Students only enrolled in session B receive summer disbursements beginning early July. The amount of financial aid disbursed will be based on actual enrollment. Log in to My ASU and go to the Financial Aid tab to check if there are documents that are being requested on your priority task list.
- Summer Pell Grant: If you received less than a full academic year of Pell Grant in the fall and spring semester(s), you may be eligible for the remainder of your Pell Grant scheduled award in the summer.
- Obama Scholars Program: The Obama Scholars Program does not provide aid for the summer semester.
- Summer Work-Study: If you are enrolled in summer classes and have worked under the Federal Work-Study program for the preceding fall or spring semesters, you will automatically receive a summer Federal Work-Study estimate award. Once we receive a summer continuation of your job assignment or new hire form from your employer, we will change it to an actual summer Federal Work-Study award. If you are enrolled in summer classes, and you did not work under the Federal Work-Study program during the preceding fall or spring semesters, you can request for Federal Work-Study eligibility. Once we receive information about your summer job assignment from your employer, we will post an actual summer Federal Work-Study award.
- Summer Aid Eligibility: A completed FAFSA for the current and upcoming academic years on file with ASU. Be eligible for need-based financial aid for both academic years. Accept your awards on My ASU under Finances.
- Study Abroad: You may use your financial aid towards your costs for study abroad. You can submit a cost sheet to the Financial Aid Office provided to you by the Center of Global Education Services to increase your summer costs of attendance.
Understanding Loan Types and Repayment
- Subsidized vs. Unsubsidized Loans: Subsidized loans do not accrue interest while you are in school while unsubsidized loans begin accruing interest from the time the loan is fully disbursed (i.e., if you have a fall/spring loan, the loan is fully disbursed once the spring amount is paid to your student account).
- Loan Repayment: Both types of student loans do not begin repayment until six months after graduation, you stop going to school or your enrollment drops below half-time status (i.e., 6 credit hours for undergraduate students and 5 credit hours for graduate students).
- Researching Loan Options: As always, we strongly recommend you do your own research into your student loan options and verify all data you find directly with the student loan lenders you are considering. Only the lenders can verify the accuracy of any student loan data that is attributed to them.
Pell Grant for Textbooks
Pell Grant recipients are eligible to purchase textbooks at Sun Devil Campus Stores and have the book charges billed to the student account, up to $650. To be eligible students must submit all outstanding documents showing on their My ASU Finances tab. Students can begin to use the benefit approximately six weeks prior to the start of the session. The last day to take advantage of the online benefit is 6pm 15 days before the beginning of each session. Student's may use the benefit in person at a Sun Devil Campus Store up until the 12th day before the beginning of the session.
Steps to Purchase Books:
- Take your schedule of classes with you to a Sun Devil Campus Store.
- Find the books for your classes.
- Take your books to the cashier.
- Present your ASU ID and indicate you have a Pell Grant.
- When you’re ready to check out, you will be taken to a Payment Methods box. Check the box next to Pell/Scholarship/Third Party Payer.
- After you click the box next to Pell/Scholarship/Third Party Payer, click Find Accounts.
- Your account balance will appear. Click Pay with this.
- You may only purchase textbooks, educational supplies and technology equipment with your Pell Grant benefit.
External Scholarship Opportunities
Scholarships Opportunities: For links to national scholarship searches and other valuable ASU scholarship information, you may visit our scholarship information, you may visit our scholarship web site at students.asu.edu/scholarships or contact the ASU Scholarship Office at 855-278-5080. You may also visit your college to see if they have any summer scholarships available.
Student Employment Opportunities
There are student employment opportunities right here on campus. The ASU Student Employment Office is always ready to help a student find a job. Please visit the Student Employment web site at students.asu.edu/employment to view part-time, full-time, seasonal, on-campus, off-campus and work-study (if eligible) job listings.
Private Education Loans
Private Education Loans are educational loans offered by private lenders, usually banks.
Parent PLUS Loans
Parents of dependent students may borrow Parent PLUS Loans. See students.asu.edu/loans/plus for details. Yes, all students must complete a FAFSA before they can be awarded a Federal Direct Parent PLUS Loan. Otherwise, the student may request an additional Federal Direct Unsubsidized Stafford Loan by submitting a Parent PLUS Loan Denial Funds Request form to Financial Aid and Scholarship Services.
Read also: Sun Devil Cheerleading
When Financial Aid Isn't Enough
If you were not offered enough financial aid to cover your summer costs, the following options may be available.
Managing Your ASU Student Account
Your ASU Student Account will list all of your tuition, fees, on-campus ASU housing and food plan charges. Your ASU Student Account will also show your pending financial aid. If your charges are greater than your pending financial aid, you will owe a balance to ASU. If your pending financial aid is greater than your charges you can expect a refund after your charges are paid at the time of financial aid disbursement.
Viewing and Paying Your Bill
- Accessing Your Account: You may view unpaid student account charges and make payments online through My ASU by clicking on Finances. In the Charge summary box, click the drop down arrow under Current amount.
- Payment Options: View details on receiving your funds and paying ASU charges. This payment option is available during specific times at the start of each semester. See the financial aid calendar for details.
Direct Deposit Enrollment
Login to My ASU, and select Finances. Select the "Direct deposit enrollment" button in the Tuition profile box and then follow the instructions to set up or review your direct deposit banking information. Enroll a month before the semester begins to ensure that financial aid is deposited to your bank account.
The Routing Number is sometimes referred to as the Transit Number or the ABA (American Banker's Association) Number. Savings and Other Types of "Savings" Accounts - Deposit slips may not include the correct routing number. Yes, ASU has taken steps to safeguard the banking information stored on its computer systems.
Types of Charges on Student Accounts
Tuition, residential life charges, student health charges, library fines, and miscellaneous department charges are billed on student accounts.
Read also: Understanding ASU Tuition
Key Financial Processes and Resources for ASU Employees
This webpage provides training and finance-related resources for areas and actions controlled by financial operations managers and other university employees. Your position and responsibilities determine if you need to learn about specific ASU financial policies, processes and rules.
Accounting and Procurement
- Financial Controls: This workshop provides resources and information for employees with accounting or purchasing duties in ASU's academic, research and administrative departments. A link to the updated training will be provided in early 2025.
- Procurement Guide: Information on how to purchase goods and services on behalf of ASU.
- Travel: My ASU TRIP is available for use for students, faculty and staff traveling on behalf of ASU. Access work instructions and video walkthroughs on all standard tasks in the system.
- Cash and Credit Card Processes: Your department must be established as a merchant site through one of our banking contracts to accept credit cards to accept credit card payments. This process takes approximately three weeks.
Direct Deposit Enrollment
Login to My ASU, select Finances in the Tuition profile box, then select 'Direct Deposit Enrollment'.
Direct Deposit for Athletes
In order to comply with NCAA and Sun Devil Athletics (SDA) regulations regarding posting and disbursing of SDA monies, active and potential athletes will not be included in Direct Deposit. Athletes may enroll in student account Direct Deposit, but refund checks will be produced instead of Direct Deposit transactions while you are an active athlete. You may specify a bank account other than your own for refunds, for example a parent's bank account. You are responsible for specifying the correct account and maintaining accurate banking information with ASU.
Financial Policies, Processes and Rules
Your position and responsibilities determine if you need to learn about specific ASU financial policies, processes and rules. The policies and procedures describing the financial management system and the qualities which make it a sound system are part of the Financial Services and Sponsored Projects Manual. The specific policies relating to the set-up of sponsored project accounts can be found at FIN211 and RSP501.
Maintaining Financial Aid Eligibility
Be advised that if you have financial aid, it will be reduced if you have a change in residency or housing status. Check with Financial Aid and Scholarship Services in order to determine how these changes will affect your award(s).
Addressing Extenuating Circumstances
No. This is the kind of extenuating circumstance you would want to notify Financial Aid and Scholarship Services about. You may initiate this process by completing a Student and/or Parent Review form.
Financial Management of Sponsored Projects
Central administrative monitoring and oversight responsibility resides with the ORSPA (Office for Research and Sponsored Projects Administration) Award Management Team. The AMT is led by Assistant/Associate Director, Research Operations. The Assistant/Associate Director is responsible for assigning central oversight responsibility for specific agreements to members of the team based on department affiliations.
Financial Services and Organizational Structure
The Financial Services department provides centralized accounting services for the University as a whole and has approximately 100 employees. See the department organizational structure. The Awards Management Team of the Office for Research and Sponsored Projects Administration has approximately 30 employees. See ASU’s latest audited financial report.
Invoices and Payments
The process for approval of invoices and release of payments for invoices is described in the Purchasing Policies and Procedures Manual (PUR). pecifically, invoices for general expenses are approved by the Principal Investigator and/or his designees and submitted to the Business Manager and staff for approval and payment. Purchases made with the ASU Purchasing Card must be pre-authorized by the Purchasing Card holder. See ASU Purchasing Card policies and procedures. Subawardees, if any, submit monthly invoices including documentation supporting their expenses related to the subaward statement of work. Invoices from subawardees, if any, are received by the Office for Research and Sponsored Projects Administration. ORSPA student staff performs data entry of the invoice into ERA and obtain the principal investigator’s approval. If additional review is required, the ORSPA student staff coordinate with the ORSPA Grant and Contract Officer.
Check Signing Authority
Responsibility for signing checks rests with Joanne Wamsley, Vice President of Finance and Deputy Treasurer.
Discrete Accounts
Discrete accounts within the Financial Management System (Workday) are maintained for program administration expenditures, matching funds (cost sharing), and each of the subawards, if any. All expenditures posted to these accounts are categorized by ledger account within the financial management system in accordance with the sponsor approved budget.
Unique Account for Each Sponsored Award
Arizona State University establishes a unique account for each of the sponsored awards made to our institution. The budget for the unique account established in our Financial Management System (Workday) is loaded in accordance with the sponsor-approved budget to ensure that expenditures fall within the requirements for allowability (reasonable, necessary, allocable) as described in the applicable sponsor guidelines. Additionally, certain categories of expenses which are normally not allowable as charges to sponsored accounts (e.g. food, office supplies) are not processed for posting to sponsored accounts by the University Accounts Payable department without the express line item review and approval of Grant and Contract Officers within the Office for Research and Sponsored Projects Administration.
Audits
Arizona State University is a public university subject to audits of all types. These audits result in audit reports of all types including, but not limited to, our annual single audit report; program, award and system audit reports for audits performed by federal, state and local government agencies, internal audit staff, and program sponsors. For fiscal year ended June 30, 2018, Arizona State University’s financial statements report $372.3M in revenue from Grants and Contracts, including $262M in federal funding. For the same period, the University’s annual financial statements report $335M in research and public service expenditures. The Federal Government requires an annual audit of non-Federal entities expending $750,000 or more in federal awards. The standards for this audit are contained in PART 200 - UNIFORM ADMINISTRATIVE REQUIREMENTS, COST PRINCIPLES, AND AUDIT REQUIREMENTS FOR FEDERAL AWARDS. The State of Arizona Office of the Auditor General performs an annual audit of Arizona State University as part of the State of Arizona Single Audit.
Cost Transfers
Principal Investigators and their support staff are required to provide detailed justification forms to backup all cost transfers to a sponsored account.
Indirect Cost Allocation
Yes. Does Arizona State University have an indirect cost allocation plan or a negotiated indirect cost rate? Yes. Does Arizona State University currently receive federal funds for indirect costs under its active sponsored agreements?
Payroll Policies and Procedures
Yes. Arizona State University has written payroll policies and procedures? Yes. Hourly employees are required to fill out biweekly timesheets. Arizona State University uses a mainframe accounting system called Workday and a payroll system called PeopleSoft HRIS. These systems and the financial information generated from them are subjected to an annual external audit of the University conducted by the State of Arizona Office of the Auditor General.
Documentation
Detailed supporting documentation is kept on file for each expense posted to the grant account. Payroll charges are supported by underlying payroll detail records as well as after-the-fact review reports. Non-payroll charges are supported by invoices, vouchers, and other source documents.
Payroll System and Timesheet Submission
A PeopleSoft payroll system (HRIS - Human Resources Information System) is used by the University to record personnel costs. Timesheets are submitted and approved electronically. Details of how time and attendance records are submitted and maintained can be found in the Staff Personnel Manual (SPP). Each supervisor is responsible for reviewing and approving timesheets. The Department Time Administrator (DTA) is responsible for the final electronic submission of timesheets and the maintenance of the associated time reporting records. Non-exempt employees will enter hours worked over the biweekly pay period by using an electronic timesheet. Exempt employees report only paid leave over the biweekly pay period on the electronic timesheet. For grant funded staff, the timesheets should be used to allocate the employee’s wages to sponsored and non-sponsored activities. Explain how that process is completed at Arizona State University. Is it automated or manual, is it completed with each payroll; if it is not completed, are estimates used? Provide sample payroll allocation.
Procurement Policies and Procedures
Yes. Does Arizona State University have written procurement policies and procedures for supplies, expendable property, equipment, real property and services, including: contracting, consultant agreements, sub-awards or sub-grants (if applicable), and any other types of agreements that transfer federal funds outside of Arizona State University?
Property Management and Inventory Control
Yes. Does Arizona State University have written procedures concerning property management and inventory control for items purchased with Federal funds? Yes. The most current ONR letter approving ASU’s Property Control System.
Travel Policies and Procedures
Yes. Does Arizona State University have written travel policies and procedures? Signed by Rachael Golliet, Associate Director of Financial Services, Tax, this form is compliant with ASU signature authority for this document. Only ORSPA staff should send this form to a sponsor.
E-Check Payments
You are required to re-enter eCheck payment information, unless you create a payment profile. Payment pr…
Student Privacy
A student’s private information will only be shared with individuals who need to know the information in order to process the request. The only exception to this relates to mandatory reporting of acts of sexual harassment, which includes sexual assault, dating/domestic violence and stalking. ASU takes all reports of such conduct seriously and is committed to taking appropriate action to hold violators accountable and to prevent any recurrence.
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