… Aid - Frequently Asked Questions (UC) … Frequently Asked Questions … What is financial aid? … Financial aid is money that students may use to help cover the cost of their education that is made available by federal and state governments, as … and loans are typically paid once a semester. Work-Study earnings are paid every two weeks. Financial aid recipients may also request to have their funds electronically transferred to their savings or checking bank accounts as an option through the refund selection process. Visit BankMobile Refund Choices …