Disbursement Procedures

Disbursement

Financial Aid Services begins the disbursement process the day after the Financial Aid Census date each semester. Financial Aid, including Federal Direct Student Loans and Federal PLUS Loan funds, is usually applied to the student’s tuition and fees charges within 2 weeks after the census date. Students must have submitted all required financial aid documents to included in the disbursement process.

Any financial aid funds over and above tuition, fees, and bookstore charges will be refunded to the student. All registered students will be contacted to select a preferred refund option. The options are direct deposit to the banking institution of choice or deposit to BankMobile Vibe checking account. Refer to the refund section for more information.

Any Federal Direct PLUS Loans over and above tuition and fees, and bookstore charges are refunded to the parent or student depending on the parent’s refund preference as indicated on their loan application.

Loan disbursements are received by Electronic Fund Transfer (EFT) and do not require any additional signatures/endorsements. The student/parent will receive written notification of the loan disbursement, and the student/parent’s right to cancel. If the student/parent would like to cancel their loan, they must do so within 14 days of the date on the notification.

HCC does not apply college work-study earnings to the student’s account. Students participating in the college work-study program will be paid semi-monthly based on the number of hours worked during that pay period. 

Credit Balance

Howard Community College (HCC) begins disbursement of financial aid after the financial aid census date, approximately five weeks into the semester. At this time, eligible awarded financial aid, including student loans, are credited to the student’s account at the college. Prior to refunding students, disbursed aid will first pay for outstanding tuition and fees for the semester and may pay for charges in the previous semester (if it is within the same academic year and there is enough aid available to do so). After all charges have been paid, any excess aid will be a credit balance on the student’s account. Students with a credit balance may use these excess aid funds to pay for books through the college’s bookstore. The college will deduct the book charges from the excess aid credit balance.

If the student has a credit balance after all outstanding obligations are met including book charges, the college will issue the student a refund in the form of direct deposit or a mailed check within 14 days from the date the credit balance posted to the student’s account. The college has partnered with BankMobile Disbursements, a technology solution powered by BMTX, Inc, to provide electronic refund services to students. Financial aid and tuition refunds are disbursed to credit students via the refund choice selected by students. Students should visit www.refundselection.com to choose their preferred method of refund delivery. This electronic refund service provides students with faster access to their refunds as well as more control over how and where their refunds are delivered. Balances paid by credit card through myHCC or directly to the cashier's office are refunded back to the respective credit card. For more information on this refund service, visit: www.refundselection.com or email HCCRefund@howardcc.edu. For more information on refunds, please visit Refunds.

Financial aid awards may increase or decrease if a student’s enrollment changes prior to the financial aid census date. Under some circumstances, the amount of financial aid awarded may not be enough to pay the total charges on a student’s account. Students who do not receive enough aid to cover their total charges may consider signing up for a payment plan and/or request a Federal Direct Loan. Students are responsible for all charges not covered by financial aid.