Disbursement of Aid Overview
Financial aid funds must be used first to pay college tuition and fees and then other institutional educational expenses (books, etc.). Once you have registered, your college Statement of Account will be available. Your online statement will show tuition, general fees and other appropriate charges. Financial aid awards will appear as credits. All fees, including penalties, must be paid according to the deadline indicated on your Statement of Account. Funds must have been received by the college, including outside scholarships or loans, before a disbursement is made.
Conditions for Aid to Disburse
- Your application for financial aid must be complete. You may view any missing requirements in the "My Requirements and Eligibility" section of Financial Aid on your Banner Student Web.
- You must meet all Satisfactory Academic Progress requirements. You may check your financial aid Satisfactory Academic Progress (SAP) on your Banner Student Web in the "My Requirements and Eligibility" section of Financial Aid.
- Funds must have been received by the college, including outside scholarships or loans.
- Timing - Funds will not appear on your account before the beginning of the semester. The disbursement process will continue daily throughout the registration period.
Financial Aid Eligibility Checks
Please be aware that you must fulfill certain criteria of enrollment status and eligibility to receive your financial aid funds. Your eligibility is initially checked when aid is posted to your Statement of Account for the term and is monitored on an ongoing basis. Aid which was initially credited to your Statement of Account for which you cease to be eligible will be withdrawn. Eligibility checks include incomplete verification, class attendance, enrollment hours, SAP status, and being in default or owing a refund to a federal and/or state educational aid program. If you are ineligible for any of the aid originally credited to your account, you will be responsible to pay, by the deadline date, those charges which were covered by that aid on your original Statement of Account.
If your financial aid award appears on your Statement of Account and all else remains the same, it will credit toward your charges and any overage, a credit balance, will be directed to you for other educational expenses including personal transportation cost, housing, school supplies, etc. Credit balances (the credits exceed the charges on your account) will be issued to you through BankMobile. Go to https://www.refundselection.com to get started. For more information on the payment process, see the BankMobile brochure by clicking here.
Administrative Services is responsible for the disbursement of credit balances. Federal law request that the Financial Aid Office does not handle student refunds in any form.
Reductions in Disbursed Aid
If the Financial Aid Office determines that you are no longer eligible to receive aid that has already been disbursed to you, you may be asked to repay it. This is a result of the continuous, ongoing eligibility and reconciliation checks that the Financial Aid Office performs for all aid programs to ensure that funds are going only to students eligible to receive them. If necessary, a recovery of disbursed funds from you will take one of the following forms:
- The Financial Aid Office may reduce your aid for the current semester to make your award consistent with your eligibility status. This reduction would take the form of a reduced credit placed on your account that may increase your personal financial obligation for college charges. (In rare circumstances, a recovery of prior semester aid is necessary. In this case the reduction would take the form of a charge placed on your current term account that may increase your personal financial obligation for college charges.)
- The Financial Aid Office may reduce future disbursements of aid to make your award consistent with your eligibility status. This reduction might result in an increase of your personal financial obligation for college charges for those semesters.
- The Financial Aid Office may initiate a charge to be applied to your account. An increase in your personal financial obligation will increase the amount you owe for college charges (or reduce your credit balance). If you have insufficient credits to cover your charges, you will receive a bill from Administrative Services for the balance due.
If you have questions about your financial aid disbursement to your student account, please contact our office. If you have questions about a refund check, please contact Administrative Services.