Financial Aid Disbursement and Refunds
- Last Updated: Monday, 09 July 2018 12:41
How and when do students receive financial aid?:
The first financial aid disbursement/ refund for eligible students is typically the Friday at the end of the third week of classes. Our Financial Aid Calendar contains the specific dates. Students may receive financial aid disbursements/ refunds in one of two ways:
- Direct Deposit into a bank account. (Fill out a Direct Deposit Request form here.)
- Check sent in the mail (This takes longer than having your refund Direct Deposited)
Federal Financial Aid such as Pell Grants and Direct Loans 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 the CCC cashier.
In order to receive a financial aid refund, students must 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|
|Statement of Educational Purpose||Statement of Educational Purpose|
|Dependent Verification Worksheet||Independent Verification Worksheet|
|Tax Transcript from the IRS||Tax Transcript from the IRS|
|Copies of W2's if you or your parents did not file taxes||Copies of W2's if you did not file taxes|
|You and your parent's tax transcript from the IRS||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|
- Attending and participating in all classes. Students who have not attended one or more of their classes will have all of their financial aid delayed until we have received confirmation of the students attendance by all instructors. Students in "late start" classes will have a portion of their financial aid held until attendance has been confirmed after two weeks of attendance in the late start classes.
Disbursement / Refunding Important Details:
- After the first disbursement/ refund, disbursement/ refund for eligible students occurs every Friday.
- Adjustments (increases/decreases) are made to financial aid awards up to the 100% refund deadline as published in the Academic Calendar
- Students not attending classes, are not entitled to financial aid. If you withdraw from all of your classes, we calculate what the student owes back. This is called a "Return of Title IV Funds Calculation."
- 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.
- 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.
- 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 both pages of 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
The Department of Education requires all colleges to set a Pell Grant Recalculation Date (PRD) every semester. The PRD is the date that the College stops adjusting 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 occur 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 that they are first disbursed Pell Grant.
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 regular start and 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 an Refund Request appeal with the Student Accounts office. For more information on CCC refund policies please see the CCC Refund Procedure 208-01.