Disbursement Dates and Requirements
When you register for eligible classes, accepted financial aid will appear on your student account as expected aid and hold your classes. Financial aid does not pay your tuition and fees or generate any refund until it disburses. Enrollment for Pell Grant is determined by the number of credit hours on the college’s Census Day, or the first date of enrollment, whichever comes first. Changes in enrollment after Census Day or the first day of enrollment do not affect the amount of Pell Grant. For full semesters, the Census Day is the 10th day of classes. Loans disburse after Census Day and after the begin dates for a minimum of 6 eligible credits. Pell Grants disburse after mid-term for the course(s) in which the student is enrolled. The disbursement requirements are listed below.
|Aid Program||Required Documents||Credit Hours Used for Disbursement|
||Later of Census Date or attendance date in 6 credits|
||Later of Census Date or the first date of enrollment|
If you have funds from your grant or loan awards in excess of your tuition and fees, funds are available in the bookstore for up to the maximums listed below. The earliest these funds are available is the day the books go on sale for the upcoming semester. When you receive an email telling you the amount of the voucher, you can start using it in the bookstore.
|12 or more||$1,000|
|Less than 6||$500|
In order to retain eligibility for the aid that is disbursed and possibly refunded to you, you must attend class. Failure to attend a class will result in you being classified as a “no show,” which can reduce or cancel your financial aid for the semester. If you drop all classes, your aid will be reduced, and you may owe a balance to Waubonsee. If you do not complete any credits at the end of the term with grades of A, B, C and/or D, your financial aid eligibility will be reviewed based on your last date of attendance as reported by your instructor(s). If the last date of attendance is not after the 60 percent point of the term, your aid will be reduced, and you may owe a balance to Waubonsee. Failure to complete courses attempted will also reduce your completion rate. As indicated in the Standards of Academic Progress, a minimum completion rate of 67 percent is necessary to retain financial aid eligibility.
Withdrawals and Financial Aid
Federal regulations require students to maintain a minimum completion rate (see Standards of Academic Progress) to retain eligibility. Withdrawing from a course(s) or failure to earn credit hours in a course(s) will lower your completion rate. Withdrawing from all courses or failure to successfully complete all course(s) may require you to pay back the financial aid you may have received. Consultation with a counselor prior to withdrawal is highly recommended before withdrawing.
Withdrawing from some but not all courses.
If the courses remaining in the student’s schedule total less than six credit hours, the student is not loan eligible. Student loans require a minimum of six credit hours at the time of disbursement.
Withdrawing from all courses.
This results in a reduction to Federal aid eligibility including grants and loans. Federal regulations require that students “earn” their financial aid by attending or participating in class. Waubonsee records attendance at the end of the refund period and at mid-term. These attendance records determine the amount of financial aid that has been earned by a student who withdraws from all courses. For example, withdrawing from all courses after mid-term would result in a reduction to a $1,000 Pell Grant or Direct Loan of approximately $500 (50%) because mid-term would have been the last recorded date of attendance. This reduction in financial aid could result in the student owing institutional charges, and if the withdrawal occurred after the financial aid was disbursed, a repayment of all or part of any refund that was based on the original Pell Grant or Direct Loan amount.
Failure to successfully complete courses.
Students who do not complete at least one course with a final grade of A,B,C or D are considered unofficial withdrawals. Last dates of attendance are reported by instructors for students whose final grades are F’s or W’s. The last dates of attendance are used to determine the percentage of federal financial aid that has been earned. If the latest date that the student attended is not after the 60% point of the term, the financial aid will be reduced to equal the percentage earned. For example, if the latest date of attendance reported by an instructor is mid-term, a $1,000 Pell Grant or Direct Loan would be reduced to approximately $500 (50%). This reduction in financial aid could result in the student owing institutional charges and a repayment of all or part of any refund that was based on the original Pell Grant or Direct Loan amounts.