Contact

Financial Aid Office


Truax A1000
Enrollment Center
1701 Wright Street
Madison WI 53704

CALL: (608) 246-6170
FAX: (608) 243-4245
Email

HOURS:

Phone
Monday - Tuesday: 8 a.m. - 6 p.m. 
Wednesday - Thursday: 8 a.m. - 4:30 p.m. 
Friday: 9:30 a.m. - 4:30 p.m.  

In-person
Monday - Thursday: 8:15 a.m. - 4 p.m. 
Friday: 9:30 a.m. - 4 p.m.

Closure for disbursement processing:
Closed: Monday, September 11 – Wednesday, September 13
Regular service resumes Thursday, September 14

Financial Aid Disbursements & Refunds

Disbursement

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.

Refunds

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.

  • Disbursement Eligibility

    Listed below are general requirements that must be met before funds can be disbursed to Madison College. Some specific types of financial aid may have more requirements.

    • You must be admitted into a financial aid eligible program of study.
    • You must meet funding-specific enrollment status requirements.
    • For most aid, you must be enrolled at least half time.
    • You must meet all satisfactory academic progress standards.
    • You cannot have any outstanding To Do List items in myMadisonCollege.
    • You must have received your Award Notification (see application process step 6) in your student email and accepted all funds you wish to receive.
    • You must have completed Entrance Counseling and your Master Promissory Note at studentloans.gov if you are receiving a Federal Direct Loan.
  • Disbursement Time Frame

    The first disbursement of financial aid begins after the Pell Recalculation Date if you have met all the requirements. After the first disbursement, available financial aid funding is released once a week. To see your estimated disbursement date:

    1. Log into your myMadisonCollege account.
    2. Under the Finances heading, click on "View Financial Aid."
    3. Choose the appropriate Aid Year (e.g. 2018 for the 2017-2018 academic year).
    4. Under the appropriate term, view Scheduled/Expected Disbursement Dates.
    5. The Scheduled Disbursement Date will list the anticipated disbursement date for the specific awards. 

    Students in the following situations may have later disbursement dates due to Federal regulations:

    • If you have classes that do not begin prior to the Pell Recalculation Date, funds will begin disbursing on the next scheduled disbursement date after your classes have begun.
    • If you are a first-time Federal Direct Loan borrower, your first loan disbursement cannot be released until 30 days after your classes begin.
    • If your Federal Direct Loan is awarded for a single semester, your loan will disburse in two payments. The second payment will occur at the mid-point of the semester.
  • Refunds

    Refund Time Frame

    If you are eligible for a refund after your aid disburses, it will be generated the week after your funds disburse. To view actual disbursements to your financial aid account, access your Account Activity on your myMadisonCollege Student Center.

    Receiving Your Refund

    Refunds are sent to your mailing address on record. Be sure your address information is up to date in myMadisonCollege so that you can receive it promptly. If you want a refund deposited directly into your bank account, you will need to sign up for e-refunding.

    Once a refund is generated, please allow time for processing and delivery. For mail delivery, please note that the USPS processing is now being routed through Milwaukee instead of Madison, which could lengthen delivery time. For e-refunding, it may take up to five business days for the funds to be deposited into your account.

    Return Refund

    You have the right to cancel/reduce your Federal Direct Loans and may do so by returning your check along with a statement to the Student Payment Office within 14 days of payment. Include your full name, student ID number, and signature.

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.