Financial Aid refund process, timeline
Students will receive email communications each semester from HCC and BankMobile when aid disbursements and refunds have been processed and made available to the student.
Financial aid funds are not released to students until they are earned. Students earn financial aid funds by successfully attending classes for a period of time. Students will begin to receive excess aid funds when they have been attending classes for at least 5 to 6 weeks (all classes, including late start).
Disbursement and Refund Timeline
Grants and Scholarships: Summer 2018
The authorization of financial aid funds for the SUMMER 2018 semester will run on FRIDAY, MAY 18th.
The authorized funds will show as anticipated aid which will be used to cover tuition, books, and fees. The anticipated status will prevent the student from being dropped from their classes (as long as it covers the total amount of tuition/fees).
Students will be able to use anticipated financial aid to purchase books/supplies at the bookstore from May 18th until July 27, 2018.
Please note: we will process refunds in three groups. Look below to see which sessions are included in each group and the expected refund date.
DISBURSEMENT WILL RUN ON JUNE 19th AND REFUNDS WILL PROCESS JUNE 21st
If your courses are listed below, your refund will process on June 21st.
- Summer Mini (Mini) - Classes begin May 14 - OE Date May 15
- Coleman 8 WK (C8A) - Classes begin May 29 - OE Date June 4
- Coleman 5 WK (C5A) - Classes begin May 29 - OE Date June 1
- Banking 4 WK (B4A) - Classes begin June 4 - OE Date June 6
- Coleman 6 WK (C6A) - Classes begin May 29 - OE Date June 1
- First 5 WK (S1) - Classes begin June 4 - OE Date June 7
- Coleman/Culinary 12 WK (C12) - Classes begin May 29 - OE Date June 11
- First 8 WK (S8A) - Classes begin June 4 - OE Date June 11
DISBURSEMENT WILL RUN JUNE 26th AND REFUNDS WILL PROCESS JUNE 28th
If your courses are listed below, your refund will process on June 28th.
- Ten WK (S10) - Classes begin June 4 - OE Date June 18
- Coleman 11WK (C11) - Classes begin June 4 - OE Date June 18
DISBURSEMENT WILL RUN JULY 24th AND REFUNDS WILL PROCESS JULY 26th
If your courses are listed below, your refund will process July 26th
- Banking 4 WK (B4A) - Classes begin July 2 - OE Date July 5
- Coleman 6 WK (C6B) - Classes begin July 9 - OE Date July 12
- Second 5 WK (S2) - Classes begin July 9 - OE Date July 12
Loans: Summer 2018
Students will receive their loan disbursement 30 calendar days after:
Attendance is verified for 6 or more credits.
Registering for classes with different start dates will affect how long it takes to verify attendance for 6-credit-hour requirement. For example, if you are taking 6 credit hours with one regular term class and one second start class, your loans will not disburse until attendance is verified for the second start class.
Loan requirements below are completed.
- Accept the loan by clicking here.
- Be enrolled and attending 6 or more credit hours.
- Complete the online Entrance Loan Counseling by clicking here.
- Complete the Master Promissory Note (MPN) by clicking here.
3 Things That Affect Disbursement Schedule
- SCHEDULE CHANGE: If your schedule changes and you enroll in later start classes, your scheduled disbursement week will change. Contact your campus financial aid office for those details.
- WITHDRAWALS: Withdrawing from classes will have an impact on the scheduled disbursement. If you withdraw from class(es), all aid will be held for review and eligibility may need to be recalculated. Contact your campus financial aid office for those details.
- LOAN REQUIREMENTS: To receive a disbursement for loans, you must meet the requirements listed above.
Difference Between Disbursement and Refunds
Disbursement means that all eligible financial aid funds will be posted to your account as a payment for classes.
Once a disbursement of your financial aid is posted as payment for your classes, any aid leftover will be refunded to you within 48 – 72 hours (2-3 business days).
Choose Your Refund Option
hccs.edu >MyEagle Student Sign-in
Once logged in, find the Student Center Page and click the Choose A Refund Option link to make your Refund Preference Selection.
IT’S THAT EASY!
Overview of Aid Process Timeline
Financial Aid awarded
- Free Application for Federal Student Aid (FAFSA) completed
- All required paperwork provided
- Eligibility requirements met
- Pell grants are awarded at full-time enrollment status until actual enrollment is confirmed
- Student loans are offered and are either accepted or declined by the student
- Awards are available online to view through myHCCS
Charges generated on student billing account
- Register for classes
- Anticipated aid appears on student account 20-30 days prior to the start of a semester
Bookstore credits Available
- GRANTS: 10 days prior to the start of a semester
- LOANS: After first day of classes
- Purchases charged on billing account
- 15 days after the start of a semester or session
- Faculty return enrollment rosters
Late-start Sessions reviewed Aid Disbursed
- Verify eligibility requirements
- Aid is adjusted to actual enrollment when student changes schedule
- Aid is delayed for late start classes
- Pell and State Grants disbursed three weeks after the start of a semester or late-start session Loans require actual attendance in 6 or more credits and completion of online MPN and Entrance Counseling Loan disbursed 30 days after the start of a semester or late-start session
- Billed charges paid by disbursed aid
- Excess cash is released to
- BankMobile within 14 days of disbursement BankMobile email notification when refund has been posted to Eagle Card or EFT to Bank
- Refer to the Academic Calendar for semester and session start and end dates.
Note: The HCC financial aid department strives to make the information on this website as timely and accurate as possible; the department makes no claims, promises, or guarantees about the accuracy, completeness, or adequacy of the content, and expressly disclaims liability for errors and omissions.
Examples of How Aid Processes
STUDENT EXAMPLE 1
- Completed FAFSA and Aid Paperwork on May 1, 2013
- Awarded on May 15, 2013 as full-time (not yet registered) – Pell = $1500
- Accepted student loan and completed online loan processes – Loans = $3500 (net after origination fee - $3460)
- Registered for 2 courses (6 credits) on June 30, 2013 for Fall semester beginning August 26, 2013
- Charges for 6 credits generated - $1000
- Aid authorized on student account August 1, 2013 - $5960
- Bookstore credit available August 16, 2013 - $500
- Books charged against aid - $250
- Classes begin August 26, 2013
- Attendance confirmed September 16, 2013 for all 6 credits
- Pell disbursed September 17, 2013 - $1500
- Charges paid - $1250
- Eligibility for refund confirmed on September 18, 2013 - $250
- Refund generation process completed on September 20, 2013
- Refund records transmitted to BankMobile on September 23, 2013
- BankMobile approves refund on Eagle Card or Transmits to Bank via EFT on September 24, 2013
- Student loan disbursed on September 26, 2013
- Eligibility for refund confirmed on September 27, 2013 - $3460
- Refund generation process completed on September 30, 2013
- Refund records transmitted to BankMobile on October 1, 2013
- BankMobile approves refund on Eagle Card or Transmits to Bank via EFT on October 2, 2013
STUDENT EXAMPLE 2
- Completed FAFSA and Aid Paperwork on October 15, 2013
- Awarded on November 20, 2013 as half-time (registered 6 credits) – Student is not Pell Eligible
- Accepted student loans and completed online loan processes – Loans = $3500 (net of $3460)
- Charges for 6 credits generated - $1000
- Aid authorized on student account December 1, 2014 - $3460
- No Bookstore credit available – No Pell Eligibility
- Classes begin January 13, 2014 and March 17, 2014
- Attendance confirmed January 20, 2014 for 3 credits - remaining 3 credits in late-start
- Attendance confirmed March 27, 2014 for the late-start class
- Student loan disbursed on April 17, 2014 · Charges paid - $1000
- Eligibility for refund confirmed on April 18, 2014 - $2460
- Refund generation process completed on April 21, 2014
- Refund records transmitted to BankMobile on April 22, 2014
- BankMobile approves refund on Eagle Card or Transmits to Bank via EFT on April 23, 2014