Disbursement of Title IV Funds and Other Aid
Title IV financial aid and other financial aid is credited to eligible student accounts by the Student Accounts Office on an ongoing basis.
Title IV aid includes Pell Grants, SEOG, and Federal Direct Loans (Subsidized, Unsubsidized, and PLUS). Disbursements of Title IV aid begin approximately thirty days after the start of each semester. Timing of disbursements for non-Title IV aid varies by program. Some sources of aid (like NYS TAP) are disbursed upon receiving notification from the State that the award has been finalized. Other sources of aid are disbursed upon receipt of funds from the program source.
Financial aid is applied to the student’s account until all tuition and fees are paid in full (including books and housing when applicable). If the financial aid credited to the student’s account exceeds the charges for that semester, it will create a credit balance which may be refunded to the student or parent (PLUS loans only). Finger Lakes Community College partners with BankMobile to deliver financial aid refunds to students. Students have the option to receive their refund by check, or EFT, or to hold a credit balance on their account for a future semester. Parents who request a refund of PLUS funds will receive their refunds via check.
Refunds are issued on a weekly or bi-weekly basis throughout the semester. Excess aid that is a result of Title IV financial aid is refunded within 14 days of disbursement to the student's account.