You will be billed for one term (semester) at a time. Your bill will include tuition and fees for your registered courses. If you will live in on-campus housing, your bill will also include room and board charges.
Financial aid funds awards do not change the amount that you are charged, but they do provide you with funds to help pay those charges. If you finalize your aid as early as possible, and register for classes at the earliest opportunity, your aid may be on your account when the Bursar’s Office generates your term bill, and will show as an offset to your charges.