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Disbursement And Repayment Of Financial Aid

 How aid is disbursed?
Annual awards are usually divided equally by term and disbursed once per term.  On the second Friday of each term (excluding summer term), financial aid is credited to the student's account based on actual enrollment in credit classes.  Once the balance is paid, any remaining aid for the term is refunded to the student by check and mailed by the third Wednesday of the term.  These excess funds are to be used for the student's living expenses while the student is attending school.  Additional disbursement information is available and distributed prior to disbursement each term to financial aid students.  A bookstore credit system allows eligible students to charge up to $400 of books against their federal student aid account. Classes must be taken for credit to count toward financial aid.  Classes taken as audit will not be covered by financial aid. 

  • Work-study earnings are paid each month On the 15th for the prior month according to hours reported on the time sheet.  
  • Veterans educational benefits are disbursed directly to the student, monthly, by the Veterans Administration.

Repayment requirements
Federal student aid recipients who cease to attend during a term are subject to a special federal refund and repayment calculation. The federal refund calculation replaces the "regular" COCC tuition refund schedule and gives a larger or equal refund. A federal repayment calculation finds out if the student is obligated to repay some financial aid money for early withdrawal. At the time of withdrawal each student should request a Title IV refund/repayment calculation from the Financial Aid Office. Refund and repayment results and instructions are mailed to students.

The College attaches a federal refund and repayment schedule to all Title IV disbursements. Complete federal refund/repayment information and example calculations are available from the Financial Aid Office upon request. The "regular COCC refund schedule" is published in the COCC catalog and quarterly schedule of classes.  Please also check the Repayment Policy for more information.

Requirements for continued eligibility
Annual awards are offered assuming continued eligibility each term. To remain eligible for each disbursement, a student must meet academic eligibility and program requirements.