Disbursement and Refund Process

Disbursement and Refund Process

Each semester when financial aid disbursements and refunds are processed, students will receive emails from HCC and BankMobile . 

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 disbursements and refunds when they have been attending classes for at least 5 to 6 weeks (all classes, including late start).

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).

If you do not have enough financial aid to cover the costs of classes, you will have to make arrangements with the Business Office to pay for the remaining balance. For more information about payment plans, please click here

Disbursement and Refund Timeline

Grants and Scholarships: Spring 2020

AUTHORIZED AND ANTICIPATED AID FOR BOOKSTORE
The authorization of financial aid funds for the Spring 2019 semester will run on January 8, 2020. 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 January 8 until April 24, 2020.

3 THINGS THAT WILL CHANGE YOUR DISBURSEMENT/REFUND DATE

  1. Multiple Start Dates: If your schedule consists of courses with multiple start dates, you have to use the latest start date to determine your refund date. For example, if you are taking two regular term class and one second start class, you would look at the chart below and use the refund date for the second start class. 

  2. Schedule Change: If your schedule changes and you enroll in classes with different start dates, your scheduled disbursement week will change. 

  3. 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.

DISBURSEMENT AND REFUND GROUPS
We will process refunds in four groups based on the Official Date of Enrollment (OE Date). Please refer to the list below to find your class start date and expected refund date. Disbursement and refunds are based on your latest class start date. 

Group 1: 
Disbursement will run on February 18thand refunds will process February 20th.
If your courses are listed below, your refund will process on February 20th

  • Holiday Mini Term (MINI) - Classes begin December 16 - OE Date December 18
  • Coleman First 16 WK (C16) - Classes begin January 13 - OE Date January 27
  • Coleman First 8 WK (C6A) - Classes begin January 27 - OE Date January 30
  • First 8 WK (F8A) - Classes begin January 21 - OE Date January 27
  • First 5 WK (F4A) - Classes begin January 21 - OE Date January 23
  • Regular Term (RT) - Classes begin January 21 - OE Date February 3


Disbursement will run March 10th and refunds will process March 12th.
If your courses are listed below, your refund will process on March 12th.

  • Second 4 WK (F4B) - Classes begin February 18 - OE Date February 20
  • Second Start (SS) - Classes begin February 18 - OE Date February 27


Group 3: Disbursement will run April 14th and refunds will process April 16th.        
If your courses are listed below, your refund will process on April 16th

  • Coleman First 16 WK (C6B) - Classes begin March 23 - OE Date March 26
  • Third 4 WK (F4C) - Classes begin March 23 - OE Date March 25
  • Second 8 WK (F8B) - Classes begin March 23 - OE Date March 30


Group 4: Disbursement will run May 5th and refunds will process May 7th
If your courses are listed below, your refund will process on May 7th

  • Fourth 4 WK (F4D)  -Classes begin April 20 - OE Date April 22

 

Loans

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 must be completed before loans can disburse and refund. 

  • 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

4 Things That Affect Disbursement Schedule

  1. 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.

  2. 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.

  3. LOAN REQUIREMENTS: To receive a disbursement for loans, you must meet the requirements listed above.

  4. ONE-SEMESTER LOANS: If your loan is for one semester only, you will receive two payments within that semester. Contact your campus financial aid office for those details.

 

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

LOG INTO:
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!

Change HCC Refund Preference

 

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

 

Funds Authorized

  • 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

 

Enrollment Confirmed

  • 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

 

Aid Refunded

  • Billed charges paid by disbursed aid
  • Excess cash is released to BankMobile within 14 days of disbursement. BankMobile will email notification when refund has been disbursed to your selected refund preference.
  • 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 for selected refund preference 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 to selected refund preference 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

 

Resources

Financial Aid Contact Center

Financial Aid Contact

Call Center Hours: Monday - Friday 8 a.m. - 5 p.m.

Live Chat Hours: Monday – Friday 9 a.m. – Noon and 2 p.m. – 5 p.m.

Campus Hours: Monday - Thursday 8 a.m. - 6:30 p.m. | Friday 8 a.m. - 5 p.m.

Find a Financial Aid office at a campus near you