Financial Aid Disbursements & Refunds
Disbursement means paying the funds from your financial aid grants or loans to your Madison College account for charges of tuition, fees and books (if you charged them during the Book Charge process). If you want to use financial aid funds to pay for past due tuition or fees, you must grant student permission.
If there is any money left over once your disbursement pays your balance due, you will receive the remainder of that money in the form of a refund.
Disbursements are based on your financial aid award. Once your funds disburse, they will go toward your balance owed to Madison College. You will receive any remaining amount in the form of a refund. Your refund may therefore be lower than your disbursement amount because of the balance(s) paid. In addition:
- Student loans are subject to origination fees.
- Work study funds require you to apply for an on or off-campus job and earn up to the amount listed on your award. Earned funds are then paid directly to you in a bi-weekly paycheck. These are not disbursed to your student account like grants or loans.
- Some funds are required to be listed on your award letter as count against your COA and may disburse through the Financial Aid Office. These include Tribal/BIA awards, DVR, Alternative loans or Nursing Loans.
- Some funds are required to be listed on your award letter as count against our COA, but may not disburse to your account through the Financial Aid Office. These include Foundation Scholarships, state Veterans Education Benefits, and Other Aid (which are generally third party payments).