Financial Aid Disbursement and Refunds

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When do eligible students receive financial aid?

How do students ensure they are eligible for a financial aid refund?
Disbursement / Refunding Details
Pell Recalculation Date Policy
Refund of tuition and fees for students who drop or withdraw from classes

When do eligible students receive financial aid?

Students attending the traditional 16-week semester:
Friday at the end of the third week of classes (See Exceptions). Our Financial Aid Calendar contains the specific dates.

 

Students attending late start classes that are not 16 weeks long:
Friday at the end of the third week of late start classes (See Exceptions). For example, students whose classes start 8 weeks into the traditional 16 week semester should expect their aid the Friday of the 10th week of classes. Our Financial Aid Calendar contains the specific dates.

 

Students attending a mixture of traditional 16-week classes and late start classes that are not 16 weeks long:
It depends on the type of financial aid. Pell Grants will disburse based on the enrollment level achieved after 3 weeks of attendance. For example, if a student is enrolled in 6 credits of traditional 16-week classes and 6 credits that start 8 weeks into the traditional 16-week semester the Pell grant will disburse 50% of its value the 3rd Friday of classes and the other 50% of Pell grant will disburse the 10th week of classes. Federal Direct Student loans will disburse once the student has achieved 3 weeks of enrollment in at least 6 credits (See Exceptions). 

 

Exceptions:
Student loans have a variety of disbursement anomolies which were explained during Federal Direct Student Loan Entrance Counseling. Students who are a first-time, freshman borrowers must wait at least 30 days from the first day of class to disburse loan funds, per Federal Regulations. Single semester loans (fall only, spring only or summer only) are awarded in two equal disbursements: one at the beginning of the semester, and one at the mid-point of the semester, also per Federal Regulations. 

 

Students may receive financial aid disbursements/ refunds in one of two ways:

  1.     Direct Deposit into a bank account. (Fill out a Direct Deposit Request form here.)
  2.     Check sent in the mail (This takes longer than having your refund Direct Deposited)
     

Financial Aid will first be used to pay tuition and fees and other allowable charges at CCC. Remaining money is refunded to the student. When financial aid is more than the amount owed to CCC the student will receive a direct deposit or a refund check in the mail for the difference. When financial aid is less than monies owed to CCC the student must pay the difference to CCC.

 

How do I ensure I am eligible for my financial aid refund?

  • Physically attend all in-person classes and participate in at least one academically related activity in all on-line classes. Students who are no-showed or marked not present in their classes during the first or second week of school will not be disbursed financial aid. If this is the case, we will delay financial aid disbursement until we have received confirmation from instructors that the student has begun attendance in in-person classes and engaged in an academically related activity in all on-line classes.  The CCC procedure explaining student expectations regarding attendance is available here. 
     
  • Be making Satisfactory Academic Progress (SAP) at CCC.
     
  • Have a complete and verified Financial Aid file typically comprised of the following:
Dependent Students Independent Students
Financial Aid Responsibilities and Training Financial Aid Responsibilities and Training 
Dependent Verification Worksheet Independent Verification Worksheet
Tax Transcript from the IRS if you filed taxes Tax Transcript from the IRS if you filed taxes
Copies of W2's if you or your parents did not file taxes Copies of W2's if you did not file taxes
Your parent's tax transcript from the IRS if they filed taxes Documentation of untaxed income for the previous year
Copies of you and your parent's W2's if you or they did not file taxes Letter of non-filing from the IRS if you or your spouse did not file taxes.
Documentation of untaxed income for the previous year Additional information to clear up any information in your file or on the FAFSA
Letter of non-filing from the IRS if you or your parents did not file taxes  
Additional information to clear up any information in your file or on the FAFSA  

 

Disbursement / Refunding Details

  • After the first disbursement/ refund, disbursement/ refunding for eligible students occurs every Friday.
  • Adjustments (increases/decreases) are made to Pell Grants only up to the Pell Recalculation Date as published in the Financial Aid Calendar.
  • Students with a credit balance on their account (CCC owes them money) will typically see their refund issued on the first Friday after the credit balance is created. In extenuating situations, CCC is permitted to hold a credit balance on an individual student's account for up to 14 days in order to resolve issues with a student's enrollment or financial aid file. 
  • Students who don't show up for class(es), are not entitled to financial aid.
  • When students withdraw from all classes, we calculate what the student owes back. This is called a "Return of Title IV Funds Calculation."
  • Students who drop classes after receiving financial aid may be required to pay some or all of it back immediately depending on the rules governing the situation. For more information please see our withdrawal webpage.
  • All students are required to keep their address and phone number current with CCC. If a student's address is inaccurate and a check is mailed, we wait at least two weeks for the check to be returned to us, before we re-issue it. Login to MyCCC student portal and select "Self Service Banner" at the top to update or check your address. Direct Deposit is the best way to receive your financial aid refund.
  • Students must pay all previous debts greater than $200 before they may be disbursed/refunded financial aid for the current semester. Financial Aid is only allowed to pay off $200 or less in debt from the previous year.
  • Students who have applied for loans should read about the specific rules on our Student Loan Information page. There are several steps involved in applying for loans. Be sure to read all of the information on the Loan Request Form, complete entrance counseling and sign your Master Promissory Note on-line.
  • Students may not receive Pell Grant funds from multiple schools at the same time. A Consortium Agreement may be processed by the parent school so the student may receive funding to cover some or all of the costs at both institutions.  For more information you may contact the Office of Student Financial Aid.  Consortium Agreements must be completed prior to disbursement of funds.
     

Pell Recalculation Date Policy

Per Department of Education regulations, CCC has declared a Pell Grant Recalculation Date (PRD) every semester. The PRD is the date that the College will no longer adjust increases and decreases to Pell Grant awards.

 

The policy of the CCC Office of Student Financial Aid is to review and recalculate Pell Grant eligibility up to and including the Tuesday of the third week of the full semester.  The third week of the Fall full semester typically falls in mid-September. The third week of the Spring full semester typically falls at the end of January. The third week of the Summer full semester typically falls at the end of June. Pell Grants are increased or decreased based on changes in enrollment that occurs before the PRD. If a student adds a course after the PRD, the student will not receive additional Pell Grant. In some instances a student is not registered for any credit hours on the PRD, but subsequently registers for classes after the PRD. In that situation, the PRD for the student becomes the date the student has enrolled in one or more credits for the semester, has a processed FAFSA and has a Pell Grant awarded by CCC.

 

If a student is registered for courses in both the first and second parts of a semester, Pell Grant eligibility is only reviewed on the Tuesday of the third week of classes of the full semester. A Pell Grant may be increased or decreased based on changes in enrollment that occur before the PRD. If a student adds a course after the PRD, the student will not receive additional Pell Grant per Federal Regulation.

 

No adjustments to Pell Grant will be made after the PRD unless the student withdraws from all classes, or if the student is determined to be a "no-show" to any or all classes, or a Pell calculation error was made by CCC. Adding any classes (including late start classes) after the PRD, will not increase Pell Grant eligibility.

 

Federal regulations also require the College to revoke Pell grant awards when a student fails to attend any course used to award a Pell grant.

 

Refund of tuition and fees for students who drop or withdraw from classes

At Coconino Community College, tuition and class fees are refunded to students who drop their courses prior to the fifth business day of the semester. No tuition and fees are refunded after that time. The refund of tuition and fees does not impact the Federal Student Financial Aid Return to Title IV calculation formula, but it does affect the amount of money the student may owe back to CCC for withdrawing. Students who have withdrawn from classes after the fifth business day of the semester who have extenuating circumstances may complete a Refund Request appeal with the Student Accounts office. For more information on CCC refund policies please see the CCC Refund Procedure 208-01.