{"id":28,"date":"2022-01-11T16:16:27","date_gmt":"2022-01-11T16:16:27","guid":{"rendered":"https:\/\/stgschoolcraft.wpengine.com\/aid\/?page_id=28"},"modified":"2025-12-16T15:19:35","modified_gmt":"2025-12-16T15:19:35","slug":"disbursement-of-funds","status":"publish","type":"page","link":"https:\/\/www.schoolcraft.edu\/aid\/apply-for-aid\/disbursement-of-funds\/","title":{"rendered":"Disbursement of Funds"},"content":{"rendered":"\n<h1 class=\"wp-block-heading\">Disbursement of Funds<\/h1>\n\n\n\n<p>Financial aid disbursements vary depending on the type of aid awarded, start and end dates of your courses, and the date the aid is awarded. Please note the following:<\/p>\n\n\n\n<div class=\"wp-block-group\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-block-group-is-layout-constrained\">\n<h2 class=\"wp-block-heading\">Financial Aid Refund Dates<\/h2>\n\n\n\n<figure class=\"wp-block-table\"><table><thead><tr><th scope=\"col\">Semester<\/th><th scope=\"col\">Beginning Release Date<\/th><\/tr><\/thead><tbody><tr><td><strong>Fall 2025<\/strong><\/td><td>October 3, 2025<\/td><\/tr><tr><td><strong>Winter 2026<\/strong><\/td><td>February 20, 2026<\/td><\/tr><tr><td><strong>Spring\/Summer 2026<\/strong><\/td><td>June 19, 2026<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p>Spring and Summer semester are considered one semester for financial aid purposes.<\/p>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n<\/div><\/div>\n\n\n\n<h2 class=\"wp-block-heading\">Grants<\/h2>\n\n\n\n<p>Once the FAFSA application and all requested documentation is submitted, an award notification indicating the award type and amount of Title IV funds (Pell and SEOG) will be issued to the student. Funds are disbursed to the student&#8217;s account to pay for tuition and bookstore charges incurred.&nbsp;&nbsp;<\/p>\n\n\n\n<p>Any credit balances will be processed upon attendance verification in all enrolled courses. Any unused funds will be sent to the option you chose when setting up your BankMobile preferences.&nbsp; For more information about this process please visit our&nbsp;<a href=\"https:\/\/www.schoolcraft.edu\/accounts\/refund-process\/bankmobile-disbursements\/\">Refunds with BankMobile Disbursements<\/a>&nbsp;webpage.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Loans<\/h2>\n\n\n\n<p>Loan disbursements will be disbursed to the student&#8217;s account once received electronically by the Department of Education. Per federal regulations Schoolcraft College is now required to begin disbursing all federal student loans in two equal disbursements. Any outstanding tuition and bookstore charges will be deducted.<\/p>\n\n\n\n<p>If you are eligible for a loan refund, you won\u2019t be getting the full amount until the middle of the semester. Please visit our <a href=\"\/aid\/types-of-aid\/loans\/\">Loans web page<\/a> for these disbursement dates. Refund checks will be processed upon attendance verification. <\/p>\n\n\n\n<p><strong>Please Note: <\/strong>You MUST be enrolled for a minimum of six (6) credit hours to be eligible to receive loan funding.&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Scholarships<\/h2>\n\n\n\n<p>Scholarship funds will be disbursed to students depending on the specific scholarship criteria. Any unused funds that are allowed to be disbursed to the student will be issued via BankMobile Disbursements. We encourage you to make a refund selection with BankMobile Disbursements to receive funds owed to you in a fast and secure manner. Visit our <a href=\"https:\/\/www.schoolcraft.edu\/accounts\/refund-process\/bankmobile-disbursements\/\">BankMobile web page<\/a> for more information on the refund process.<\/p>\n\n\n\n<p>Students with external scholarships should submit&nbsp; a copy of their award letter along with their check to the Office of Financial Aid.&nbsp;<\/p>\n\n\n\n<p><strong>Please Note: <\/strong>Refund checks expire 90 days from the date issued. Any unclaimed Financial Aid refunds will be returned to the federal government. Other unclaimed refunds will be sent to the State of Michigan.<\/p>\n\n\n\n<div style=\"height:100px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Disbursement of Funds Financial aid disbursements vary depending on the type of aid awarded, start and end dates of your courses, and the date the aid is awarded. Please note the following: Financial Aid Refund Dates Semester Beginning Release Date Fall 2025 October 3, 2025 Winter 2026 February 20, 2026 Spring\/Summer 2026 June 19, 2026 [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":25,"menu_order":2,"comment_status":"closed","ping_status":"closed","template":"page-templates\/sc-sidebar.php","meta":{"_acf_changed":false,"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"sidebar-content","footnotes":""},"class_list":{"0":"post-28","1":"page","2":"type-page","3":"status-publish","5":"entry"},"acf":[],"featured_image_src":null,"featured_image_src_square":null,"_links":{"self":[{"href":"https:\/\/www.schoolcraft.edu\/aid\/wp-json\/wp\/v2\/pages\/28","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.schoolcraft.edu\/aid\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/www.schoolcraft.edu\/aid\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/www.schoolcraft.edu\/aid\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.schoolcraft.edu\/aid\/wp-json\/wp\/v2\/comments?post=28"}],"version-history":[{"count":0,"href":"https:\/\/www.schoolcraft.edu\/aid\/wp-json\/wp\/v2\/pages\/28\/revisions"}],"up":[{"embeddable":true,"href":"https:\/\/www.schoolcraft.edu\/aid\/wp-json\/wp\/v2\/pages\/25"}],"wp:attachment":[{"href":"https:\/\/www.schoolcraft.edu\/aid\/wp-json\/wp\/v2\/media?parent=28"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}