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Disbursement and Refunds

Financial Aid Disbursements

Financial aid funds are disbursed approximately four weeks after each term begins. 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 "disbursement" 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.

Refund represents funds being distributed to the student.  Financial Aid is disbursed and refunded according to established KCTCS, Southcentral Kentucky Community and Technical College (SKYCTC), and federal timelines and guidelines.  Please read the information below carefully.

No financial aid funds are disbursed to students until attendance in class has been confirmed by faculty.  Grants and KEES are reduced for students reported as "no show" for classes.  Loans may be affected also.  Students are reported as "no show" after receiving a disbursement may be required to repay financial aid funds.

Entrance Counseling and Master Promissory Note must be confirmed prior to loan disbursement.  

All refunds, not just financial aid, are processed through your BankMobile Vibe account.  All SKYCTC students are mailed an envelope from BankMobile Vibe including instructions on how to log in and choose your refund preferences. You may update this information at www.refundselection.com where you may select from a variety of options including Direct Deposit to your regular banking account. BankMobile Vibe student account holders now have fee-free access to cash at 55,000 Allpoint ATMs.

Only NEW students receive mailed instructions on how to log into your BankMobile Vibe account to update your refund preferences.  Your envelope should arrive in the mail at your home address by the end of the second week of class.  If a new student has not received their "Refund Selection Kit" in the mail, go to www.refundselection.com and click on "Where's My Refund Selection Kit".  There will be a prompt to enter the school's name, please type: "Kentucky Community and Technical College System" and then enter your last name and student ID. Contact the Tuition/Business Office for BankMobile Vibe assistance, or call BankMobile Vibe directly at 866-629-4368.


*First-Year, First-Time Borrowers: All first-year, first-time borrowers are subject to a 30-day delay before a student loan can be disbursed. You are considered a first-year, first-time borrower if you have never attended SKYCTC/KCTCS OR no transfer credit from a previous college has been processed AND you have no student loan history with NSLDS.  First-year, first-time borrowers should receive all aid except loans on the fourth Thursday after the term begins; however, loan refunds are issued on the sixth Thursday after the term begins.  The 30-day delay affects only the first loan disbursement.  Subsequent loan refunds go out on schedule.

Students Graduating in December (enrolled for the fall term only, no plans to return for spring) whose financial aid is awarded for fall only (no aid awarded for spring) will have loans prorated for the fall semester.

Students enrolling for the spring term only (were not enrolled at SKYCTC for the fall term or withdrew from fall and returned for spring). The first half disburses/refunds according to the regular disbursement schedule.  The second half refunds approximately two weeks after mid-term. 

Students enrolling for the summer term will receive specific summer information when available.

Special Situations:  

  • Students whose financial aid is not packaged prior to the start of the semester should expect their refund to be delayed.
  • Students who begin classes outside the regular full-semester schedule should expect their first refund about two - three weeks after classes start.
  • Review Self-Service for any holds that may need to removed prior to disbursement—EC, MPN, NOR, FIN, etc.—and contact the appropriate office to resolve.
  • All charges must be collected prior to a refund being issued. 
  • Many factors outside the control of the Financial Aid Office may delay your refund.


Financial Aid Census Date Policy and Pell Grants

The Census Date is the point at which your enrollment is locked for financial aid purposes, and it happens to coincide with the last date you can add or drop classes for a full tuition refund. In accordance with federal regulations, students who are awarded aid by the census date cannot have their Pell grant increased for classes added after the census date for that term. This applies to adding classes at SKYCTC or turning in consortium agreements for classes taken at other colleges. In order to be eligible for Pell grant for the classes the student must be registered by the census date (this applies to 2nd bi-term classes and other late start classes as well) and if applicable the Financial Aid Office must have a completed consortium agreement by the census date. Students who apply for aid after the census date will have their Pell Grant award based on the number of credit hours enrolled on the day their award is calculated. Refer to the Academic Calendar for these dates.

After Census Date, students cannot request changes to the Federal Pell Grant or Federal Work-Study. Changes to Federal Direct Subsidized and Unsubsidized loan programs are allowed if a student wishes to decrease or decline loan(s) or increase a loan if the student had previously declined a portion of or all of any one of these loans, as long as all other eligibility requirements are met.

To ensure receipt of the maximum Federal Pell Grant for which students are eligible and to avoid having to reimburse funds already posted to their account, students are STRONGLY encouraged to finalize their course schedule no later than the Census Date.

  • Adding Classes After the Census Date: If a student adds a class after the Census Date for the semester, the student’s Federal Pell Grant will not be increased. Classes added after the Census Date will not be eligible to be counted for Federal Pell Grant eligibility purposes, although they may still be counted for Federal Direct Loan eligibility purposes
  • Since the amount of Pell Grant is 'frozen' on this day, if a student adds or drops classes after the federal census date the amount of Pell Grant will not be adjusted (even if a student received special permission to add a class).

It is very important that students are registered for all of their courses by the census date. Students who are given permission or elect to add classes after the college census date deadline will be responsible for their new tuition charges unless they have federal student loan eligibility.