Disbursements and Refunds
Financial Aid Disbursement
Financial aid initially credits into students account after the Census Date for the semester.
Each student’s specific disbursement amount is based on his or her attending hours since TVCC has later start dates for short terms within the 16-week term. For example, if enrolled in the 8-week term, funds for courses in that term will not disburse (credit to the students account) until census date for the 8-week term. Therefore, any courses that start after the 16-week term begins, will disburse on the census date for that later term. Student loan funds will not disburse until a student begins attending their 6th credit hour. For example, if registered in 3 hours for a 16-week term and 3 hours in the 8-week term, the student will not be eligible for the student loan funds until the census date of the 8-week term. Then the fund will not disburse until 14 days after the census dates for the 8-week term. Disbursement based on attending hours also applies for summer award periods (see below). Classes for which a student is reported as not attending will result in the reduction of financial aid funding.
All summer terms are combined into one financial aid award period (summer award period). Aid for the summer award period is initially disbursed (credited on the students account) on the census day of class for each semester. Students must be enrolled in a total of 6 hours for the combined summer award period (Summer 1, All Summer, Summer 2) to receive loan funds, pell grant (if enrolled full time fall and spring) and certain grant funds. If enrolled in 3 hours in Summer 1 and 3 hours in Summer 2, loan and some grants will not disburse until the census date of the Summer 2 semester because the student isn’t attending the 6th hour until Summer 2.
Financial Aid Refunds
Financial Aid funds that are remaining after all account charges are paid will be issued as a refund to the student. Refunds are issued on a rolling basis during each semester, with the initial release 3-4 weeks after classes begin. A first-time borrower’s loan funds will be disbursed no earlier than 30 days after the first official class day. Students should monitor their Student Finance page on My Cardinal Connect to know when their refund has been processed. Direct Deposit is available through My Cardinal Connect. If you do not sign up for Direct Deposit, a check will be mailed to the address on file with the Registrar’s Office.
*Initial refund dates are for eligible students enrolled in a regular 16-week or 8-week semester. Students must be at an eligible enrollment status to begin receiving refund disbursements. Those in 8-week semester courses may not meet their enrollment status eligibility until the 8-week II census date.
Also, first-time loan borrowers will be required to wait the 30-day period after classes begin to receive their funds.