Financial Aid Disbursements & Refunds
Disbursement means the application of funds from your financial aid award toward any tuition due on your Madison College account. If you want to use financial aid funds to pay for past due tuition or fees, you may be able to grant student permission to do so.
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 laons 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.
- Certain funds are not disbursed by the Financial Aid Office but are required to be listed on your award. These include DVR, Foundation Scholarships, Veterans Benefits, AmeriCorps and Other Aid.