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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 are processed by the Tuition/Business Office.  Refunds are processed weekly on Wednesday evenings and funds are sent to Higher One to distribute to students on Thursday.

All refunds, not just financial aid, are processed through your KCTCS Debit Card/Higher One account.  All SKYCTC students are mailed a KCTCS Debit Card from Higher One including activation instructions. You must select a refund preference at www.kctcsdebitcard.com, where you may select from a variety of options including Direct Deposit to your regular banking account.

Only NEW students receive a debit card.  Your debit card should arrive in the mail at your home address by the end of the second week of class.  Check the delivery status of your card at www.kctcsdebitcard.com or contact the Tuition/Business Office for a replacement card or card assistance.

When Should I Expect My Refund?

Refunds for the fall term are scheduled to begin on September 10, 2015.  

*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 disbursment 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.