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MCC Daily Tribune Archive

Tell your students: Disbursement of financial aid funds


Financial aid is credited to eligible student accounts through the computer system that links financial aid to the student's account in the Student Accounts Office.

Eligible student accounts are credited by the Financial Aid Office on an ongoing basis after attendance in classes has been verified after the drop/add period ends.

If a student's tuition and fee bill is completely paid and the student has a credit balance, the student will be issued a refund by mail or through EFT. The Student Accounts Office normally sends refund checks on a biweekly basis, or EFT semi-weekly no sooner than the 5th week of classes.

Students are expected to pay for their indirect educational related expenses with their own funds until refunds are distributed.

William D. Ford Federal Direct Student (Subsidized and Unsubsidized) loan proceeds will be disbursed in two or more equal installments, (i.e. one in fall, one in spring) after the drop/add period ends each semester. Federal regulations require that the first disbursement of Direct Subsidized and Unsubsidized Stafford loans be held for 30 days after the beginning of the loan period for all first year, first-time borrowers at MCC. All students must be registered and in attendance in at least 6 credits when the loan funds are disbursed. If not, the loan is canceled.

William D. Ford Parent Loans for Undergraduate Students (PLUS) will be disbursed to the student's account. Credit balances will be disbursed to either the student or parent directly. The Financial Aid Office will send the student a selection form.

Ramon L. Rodriguez
Financial Aid
10/11/2012