Disbursement represents funds becoming available to the college. Refund represents funds being distributed to the student. Financial Aid is disbursed 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.
Disbursement dates in Self Service and on the Direct Loan Disclosure Notice are estimated and refunds can normally be expected 2-3 weeks later.
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.
Financial Aid refunds begin approximately four weeks after the term starts (see schedule below).
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?
Regular Students enrolled for the full fall and spring terms whose financial aid is packaged prior to the start of the fall term:
Disbursement of all aid* occurs during the third week after the term begins.
Refund issued on the fourth Thursday after the term begins.
*First-Year, First-Time College Students: 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 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.
For example, the Fall 2013 term begins on Monday, August 19. Disbursement occurs during the week of September 2-6. Refunds are issued on Thursday, September 12. Student loan refunds for first-year, first-time borrowers are issued on Thursday, September 26. The Spring 2014 term begins on Monday, January 13. Disbursement occurs during the week of January 27-31*. Refunds are issued on February 6.
Students Graduating in December/Students enrolled for the fall term only (no plans to return for spring) whose financial aid is packaged prior to the start of the fall term:
Disbursement of all aid except student loan occurs during the third week after the term begins.
Disbursement of the first half of student loan* occurs during the third week.
Refund issued the fourth Thursday after the term begins.
Disbursement of the second half of student loan occurs during the ninth week.
Refund issued on the tenth Thursday.
Students enrolling for the spring term only whose financial aid is packaged prior to the first day of the spring term:
Refund issued the tenth Thursday.
Students enrolling for the summer term:
Grants and first half of loan are usually disbursed about two-three weeks after enrollment begins. The second half of loan after midpoint of summer term.
All summer loans are disbursed in two installments*.
*First-Year, First-Time Borrowers: (see above) First disbursement is delayed 30 days from start of class.