Financial Aid Disbursement Policy

If your federal financial awards exceed your semester charges (e.g. tuition, fees, bookstore vouchers, etc.), those funds will be paid to you beginning in the fifth week of the semester.

If you are enrolled in late-starting courses that affect your enrollment status, your disbursement of funds for Direct Loan and TAP will be held until your late-starting courses have begun.

Your eligibility will be based on your enrollment status at the end of the third week of the semester. At that point, your enrollment status will be verified and your awards will only change after that point if one of the following occurs and affects your enrollment status for the programs from which you are receiving federal aid:

  • You submit a retroactive drop that results in a tuition refund
  • You fail to attend a late-starting course
  • You drop a late-starting course within the refund period
  • You withdraw from all of your courses prior to the 60% point of the semester
  • You receive all F grades at the end of the semester and cannot verify attendance past the 60% point of the semester

Please note that, in most cases, Federal Financial Aid awards will not be increased if you add a course after your enrollment status is verified.

If your enrollment status changes at a later date due to one of the conditions indicated above, you may owe the College for tuition, fees, bookstore vouchers, or funds paid to you that are no longer covered by federal aid.

Please be advised that these rules also apply to eligibility for state aid programs such as the New York State Tuition Assistance Program (TAP) and Aid for Part-Time Study (APTS).

Financial Aid Refunds

All financial aid refunds will be done by direct deposit and will only be delivered via the refund preference you select with BankMobile.

All matriculated, registered students with a FAFSA on file with the College will receive a Refund Selection Kit in the mail. Look for the bright green envelope. The Refund Selection Kit will include your Personal Code. You will use your Personal Code to make your refund selection at RefundSelection.com.  Students must choose how they would like refunds processed. Students are given two options:

  • ACH transfer to your current bank account
  • Electronic Deposit to a BankMobile Vibe Account with BankMobile

To view our required disclosures and contract with BankMobile, a Division of Customer Bank, click here.