Disbursement and Refunds

Disbursement represents funds becoming available to the college. Refund represents residual funds being distributedto the student. Financial Aid is disbursed according to established Southcentral Kentucky Community and Technical College/KCTCS and federal timelines and guidelines. Please read the information below carefully.

Regular Students enrolled for the full fall and spring terms whose financial aid is packaged prior to the first day 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-Time College Students : All first-time college students are subject to a 30-day delay before a student loan can be disbursed. You are considered a first-time college student if you have never attended Southcentral Kentucky Community and Technical College before OR you did not transfer any credit from a previous college. First-time students receive all aid except loans on the fourth Thursday after the term begins; however, loan refunds are issuedthe 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 2012 term begins on Monday, August 13. Disbursement occurs during the week of August 27-September 2. Refunds are issued on Thursday, September 6. Student loan refunds for first-time students are issued on Thursday, September 20. The Spring 2013 term begins on Monday, January 14. Disbursement occurs during the week of January 28-February 1. Refunds are issued on February 7.

Students Graduating in December/Students enrolled for the fall term only whose financial aid is packaged prior to the first day 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 the tenth Thursday.

Students enrolling for the spring term only whose financial aid is packaged prior to the first day of the spring 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 the tenth Thursday.

*First-Time College Students : All first-time college students are subject to a 30-day delay before a student loan can be disbursed. You are considered a first-time college student if you have never attended Southcentral Kentucky Community and Technical College before OR you did not transfer any credit from a previous college. First-time students 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.

All summer loans are disbursed in two installments.

TBA depending on summer session revisions.

• Students whose financial aid is not packaged prior to the first day of the semester should expect a delay of one-three weeks from the timefinancial aid is packaged/accepted before disbursement/refund.
• Students who begin classes during the second bi-term (no classes during first bi-term) will disburse and refund about two weeks after classes start.
• Students loans do not disburse until enrollment in six credits has started regardless of the normal disbursement/refund schedule. For example, a student who takes only one three-credit class during the first bi-term and another three-credit class during the second bi-term will not receive a loan disbursement/refund until approximately two weeks after the second bi-term class begins.
• Review Self-Service for any holds that may need to removed prior to disbursement—NOR, FIN, etc.—and contact the appropriate office to resolve.
• All charges are collected prior to any refund being issued.