Asked by an anonymous Tumblr user.
It depends on the type of award. According to Federal Student Aid:
Generally, your grant or loan will cover a full academic year and your school will disburse (pay out) your money in at least two payments called disbursements. In most cases, your school must pay you at least once per term (semester, trimester, or quarter). Schools that don’t use traditional terms such as semesters or quarters usually must pay you at least twice per academic year—for instance, at the beginning and midpoint of your academic year.
If you will have a work-study job, then you’ll be paid at least once a month.
Learn more about receiving federal student aid.