Financial aid is first applied to all outstanding balances owed to the College by the student for each semester. Financial aid funds are applied each semester after the 100% refund period of the semester. The amount of the award applied to tuition costs is determined in part by the amount of registered credit hours for each student in each semester. Student loan proceeds will not be received and disbursed by the College until the student has electronically signed their Master Promissory Note (MPN) and has met all other eligibility requirements.
If financial aid funds are more than enough to cover all outstanding balances owed to the College for the semester then a student may be eligible for a refund of student financial aid funds. Refund checks will be processed on a weekly basis after financial aid funds have been fully disbursed and the student has met all eligibility requirements. Eligible student refund checks will be mailed directly to the student at the address on file with the College, no exceptions.
Any changes to a student’s registered hours in a semester or financial aid record can delay the disbursement of funds and the processing and/or receipt of student refunds. In the event a student receives a refund of financial aid funds and subsequently becomes ineligible for the refund, the student is responsible for repaying the College for the amount they are no longer eligible to receive.
Any unearned amount of institutional charges and federal financial aid must be returned to the Financial Aid program, other sources of aid, or the student as a refund, as defined by federal, state and institutional regulations.
Please click here to visit the Compliance Bridge Policy Portal and search Financial Aid Refund Policy.