For Financial Aid, this refers to any aid payment due a student after a scheduled check disbursement date has passed. For example, the Pell Grant Award is normally disbursed in two scheduled payments (one shortly after the start of the semester and then again halfway through the semester). A student who has attended the fall semester and was eligible to receive a Pell Grant Award, but was not awarded until that December would receive the entire Pell Grant Award retroactively.