Financial aid funds will be disbursed to your student account using the schedule listed below, provided all outstanding financial aid requirements have been met. Financial aid funds are first applied to student charges (tuition, fees, books charged, etc.). If a remaining balance exists, a refund (except work-study) will be sent to your CVCC OneCard by the Business Office.
The payment of federal funds is governed by regulations from the Department of Education. Students are eligible for Pell and Loan payments based on actual start dates for individual classes rather than the starting date of fall, spring, or summer semesters. When preparing for disbursements, your schedule will be evaluated; only the credit classes for which you have begun attendance will be utilized to calculate your Pell and/or Loan amount. When another flex-start class begins, another cycle will be processed to see how many credit hours you have started since the last payment, and so on.
Please review your schedule to determine when your classes actually begin. Your eligibility for payments will begin on the first day of each class as it is listed on your schedule, however, this does not mean you will receive funds that day.
Federal Direct Student or Parent PLUS loan(s) will be disbursed in three disbursements for the Fall and Spring Semesters. The first disbursement will consist of 50% of the semester’s loan amount and 25% for the second and third disbursements. There will be two disbursements for the Summer Semester both consisting of 50% of the semester’s loan amount. For more information, review the Loan Disbursement Schedule (PDF).
Note: Scheduled refund dates are subject to adjustment if technical problems, system issues, or other unplanned challenges occur, without prior notice.