General Financial Aid Information
Financial Aid Disbursements
Initial financial aid funds are disbursed approximately four weeks after each term begins. Disbursements then occur weekly for any funds that have yet to be disbursed. In addition, first time student loan borrowers are not allowed to receive a loan disbursement until 30 days after their first term begins. The term 鈥渄isbursement鈥 refers to the earliest date the college may receive financial aid funds and apply them to your account, not the date the student will receive a refund. Students must be reported as attending course(s) in order for a disbursement to occur.
Refunds
Disbursed financial aid that exceeds your balance owed to the college is considered excess funds. These excess funds create a refund. All
No Show
Faculty are responsible for reporting students who do not attend class within the first week and, for online classes, students with whom they have had no academic contact during the first week.
Remember: merely logging in to the class does not constitute attendance or academic contact. Consult your instructor for specific dates which they expect attendance/academic activity, and to ensure you have completed the necessary work to meet their attendance policy.
If you fail to meet these requirements, you are considered to be a 鈥渘o-show,鈥 and you will be notified once you have been removed from a course as a no-show.
If you are a Financial Aid recipient, and you are reported as a no-show, you will have your aid adjusted to reflect the actual number of credits for the courses you are attending. When you have received financial aid, and are dropped as a no-show, the college must return that portion of funding to the federal government.
Only students that were reported in error will be allowed to be enrolled back into the class. If this situation arises, your instructor must contact the financial aid office requesting that you be reinstated. If reinstated, aid will again be adjusted based on your enrollment status and eligibility.
Financial Loan Deferral
Students who are first time loan borrowers and students who are on a SAP Appeal with a GPA below a 2.0; your student loan disbursement will be held until midterm. At midterm The Office of Financial Aid will verify your attendance and verify you are meeting Satisfactory Academic Progress. Once this is validated the student loan disbursement will occur. The loan deferral policy will not impede a student from borrowing student loans. The student will be permitted to purchase books, supplies, and attend their courses. The loan deferral policy was approved by The Department of Education as part of ACTC鈥檚 default management practices.