Disbursement of Federal Financial Aid to the Student Account
A student must meet all Federal Title IV aid requirements, including having a high school transcript or valid GED on file with LCCC before federal financial aid is disbursed to a student account.
Disbursement of aid is when the student's estimated federal financial aid award is released to the Bursar’s Office and applied to the student account. At this point, the federal financial aid award is no longer considered estimated. Provided the student meets all of the eligibility requirements for federal financial aid, disbursement begins on the 5th week of each term (fall and spring) for those sessions that have begun and for courses in which attendance has been reported by the class instructor. Disbursement for late-starting sessions will not occur until after the course begins AND the instructor has reported the attendance in People Soft (LCCC’s campus wide software system).
Additionally, upon notification from the Financial Services Center, students participating exclusively in distance learning programs may be required to pick up their checks in person at the Financial Services Center. Selected students will need to present a current, valid photo ID and confirmation from your instructors that you are currently attending classes. LCCC will not be able to release your check without this documentation.
Remember – you must be enrolled and attending at least 6 credit hours at the time of loan disbursement to receive funds!
Pell Grants will be released in one disbursement, but William D. Ford Federal Direct Loans will now be disbursed in two payments during each term. The payments will be based on commencement of attendance and the midterm grades. For full term classes, the disbursements will occur about the fifth and tenth week of fall and spring semesters. At the first disbursement, students must commence attendance and be currently enrolled in a minimum of 6 credit hours. To receive the second loan disbursement, students must be currently enrolled and actively pursuing course completion in a minimum of 6 credit hours.
Processing of refunds will BEGIN the 5th week of the term and checks generated later that week. Expect your first spring term refund the week of February 23, 2015. Please allow 7 days for delivery.
A student’s financial aid file must be complete and all requested documents received and processed for disbursement of funds. In addition, students must be meeting all other federal eligibility requirements including Satisfactory Academic Progress Standards (www.lorainccc.edu/Financial+Aid/AcademicProgress.htm). Verification must be completed for those students who are randomly selected. Students are encouraged to check their LCCC assigned email accounts and the “To Do” list in the student’s MyCampus page for required information and missing documents.
**Students must be registered for all classes by the 14th day (census date) of the full term in order to have Federal Grants cover their classes.