Financial Aid Disbursements
Financial aid for full-term classes will be disbursed into student accounts during the week prior to the established disbursement date each semester. If students have established direct deposit the Cashier’s Office will issue funds directly to their bank accounts as soon as they are available. Otherwise, checks will be mailed out so most students should receive their check in the mail by the posted disbursement date.
Disbursements for grants and scholarships will not be issued for late starting classes until approximately a week after the first date of attendance. Loan disbursements for late starting classes will not be released until the drop period for the class has expired.
Single semester loans will be issued in two disbursements, the second being after midterms.
General Financial Aid Disbursement Information
If a student receives financial aid in excess of their tuition and fees for a given term, a disbursement (sometimes referred to as a refund) will be issued from Santa Fe Community College. Each semester, disbursements will be issued approximately four weeks after the start of classes. As soon as they are ready, funds will be deposited directly into the student’s bank account, if they have chosen this option. Otherwise, checks will be mailed out as soon as possible so that most students should receive their check in the mail by the posted disbursement date.
Disbursements for grants and scholarships will not be issued for late starting classes until approximately a week after the first date of attendance. Loan disbursements for late starting classes will not be released until the drop period for the class has expired. Single semester loans will be issued in two disbursements, the second being after midterms.
Disbursements will not be issued on pending financial aid (aid that has not been confirmed). If you have questions regarding pending financial aid please contact the Financial Aid Office. Under no circumstances will financial aid be released before the designated disbursement date.
Late Disbursements
Generally a student ceases to be eligible for aid once he/she has finished the term and is no longer enrolled. An otherwise eligible student becomes ineligible to receive FSA funds on the date that the student:
- for a loan made under the Direct Loan program, is no longer enrolled at least half time
- for purposes of the Pell Grant, ACG Grant, and FSEOG Grant, is no longer enrolled at the school for the award year
However, if certain conditions are met, a student must be considered for a disbursement after the date they became ineligible. These disbursements are called “late disbursements.” The student may submit verification documentation and receive a late disbursement after they cease enrollment if the Department of Education processed a FAFSA with an official EFC while he/she was still enrolled and eligible. In addition, for a Direct Loan program student loan, the loan must be originated prior to the date the student became ineligible.
The student must complete verification no later than 120 days after the last date of enrollment. A school may not make a late disbursement later than 180 days after the date the student becomes ineligible.
Withdrawal from all Courses and Return of Federal Student Aid Funds
Federal regulations require a school to determine whether a student who has received federal student aid completed the term of enrollment. If a federal aid recipient withdraws from all courses within a term, the student is considered to have officially withdrawn. If a federal aid recipient receives all non-passing grades, the student is considered to have unofficially withdrawn. After the 60 percent point of a term, the student has earned 100 percent of the federal aid. The school is required to determine whether the student earned the federal aid disbursed by using a federally prescribed formula. This process is referred to as a Return to Title IV Funds calculation. If there is unearned aid the school and/or the student may be required to return a portion of the federal aid to the appropriate federal program. If the school is required to return funds, the amount of the return will be charged to the student’s account. The student must repay the amount returned. It cannot be paid with future financial aid disbursements. They must set up payment arrangements immediately. An unpaid balance will result in a hold being placed on the student’s account that will prevent the student from registering or receiving transcripts until it is paid in full. More information on Return to Title IV.
Refunds of Tuition and Related Charges
To receive a refund of tuition and related charges, a student must drop a course by the deadline date according to the schedule below. Refunds will be deposited directly into the student’s bank account, if they have chosen this option. If a student did not sign up for direct deposit, a check will be mailed to the address on record. Courses paid by credit card MUST be credited to the same card. Eligible refunds for amounts paid by the third party will be refunded to that party.
If a student owes any accounts receivable to the College and is eligible to receive a refund, the refund will first be applied to the receivable. Any uncommitted balance will then be refunded.
Direct Deposit Refunds
The fastest, most convenient and secure way to receive your financial aid refund!
Don’t wait for a paper check in the mail! Learn more.
Refund Schedule
A student will be refunded tuition and related charges according to the following schedule, based on the date that Enrollment and Student Services receives notice. The class week runs from Saturday through Friday.
For full-semester courses (16 weeks long)
Through the third Friday of the semester 100%
Thereafter no refund
For courses ten to fifteen weeks long
Through the end of the third week of classes 100%
Thereafter no refund
For courses six to nine weeks long
Through the end of the second week of classes 100%
Thereafter no refund
For courses one to five weeks long
Through the end of the second week of classes 100%
Thereafter no refund
For courses less than one week long
Prior to the start of the first class 100%
Thereafter no refund
Withdrawing From a Class
If the “drop” deadline has passed, a student can still withdraw from a class. A “W” will be recorded on their academic record and appear on their transcript but will not be part of the GPA. All actions except instructor- initiated withdrawals are initiated by student request. A student can drop or withdraw by logging into MySFCC > Applications > Registration Tools > Drop or Withdraw, the online system, or submit a request in writing to the Enrollment and Student Services. Verbal requests, whether made in person or over the phone, cannot be processed. Withdrawals are not eligible for a refund. To withdraw from a class, a student must meet the transaction deadline.
Transaction Deadlines for Fall and Spring Terms
COURSE LENGTH | DROP WITHOUT A GRADE AND RECEIVE A FULL REFUND | CHANGE AUDIT/CREDIT STATUS | WITHDRAW FROM CLASS |
---|---|---|---|
LESS THAN 1 WEEK | before first class | before first class | before 60% of class is complete |
1 WEEK | through end of second class | before third class | before 60% of class is complete |
2 WEEKS | through end of second class | before week 2 | before 60% of class is complete |
3 WEEKS | through end of second class | before week 2 | before 60% of class is complete |
4 WEEKS | through end of second class | before week 3 | before 60% of class is complete |
5 WEEKS | through end of second class | before week 3 | before 60% of class is complete |
6 WEEKS | through week 2 | before week 4 | before 60% of class is complete |
7 WEEKS | through week 2 | before week 4 | before 60% of class is complete |
8 WEEKS | through week 2 | before week 5 | before 60% of class is complete |
9 WEEKS | through week 2 | before week 5 | before 60% of class is complete |
10 WEEKS | through week 3 | before week 6 | before 60% of class is complete |
11 WEEKS | through week 3 | before week 6 | before 60% of class is complete |
12 WEEKS | through week 3 | before week 7 | before 60% of class is complete |
13 WEEKS | through week 3 | before week 7 | before 60% of class is complete |
14 WEEKS | through week 3 | before week 7 | before 60% of class is complete |
15 WEEKS | through week 3 | before week 7 | before 60% of class is complete |
16 WEEKS | Refer to class schedule | Refer to class schedule | Refer to class schedule |
To E-mail Financial Aid:
Federal regulations require that all financial aid inquiries come from your school e-mail address. Please e-mail all financial aid questions from your SFCC email account.
Log into MySFCC, access email account in upper right hand corner, and create a new email using “financialaid@sfcc.edu” in the address bar.
For more information please contact the Financial Aid office, 505-428-1268.