Refunds resulting from the Disbursement of Financial Aid
Financial Aid disburses about four weeks after classes begin. Loans will not disburse until about three weeks after students have begun attending their sixth credit. Once financial aid disburses it is applied toward the students' institutional charges. Any excess funds are refunded to students. HACC has partnered with Higher One
to process all refunds. Through Higher One, students can have their refund sent to an existing bank account or they can use Higher One as their bank. Click here
for a schedule of refunds.
Tuition Refund Policy
HACC has a tuition refund policy that stipulates the amount of tuition and fees that are refunded to a student who withdraws from all classes during a term. The Registrar's Office determines specific refund dates each term and publishes them on their website
. The chart shows the amount of tuition and fees returned to a student, depending upon when the student withdraws. Students must immediately notify the Registrar's Office that they are withdrawing by following specific withdrawal procedures posted by the Office of the Registrar
Return To Title IV (Federal) Financial Aid
The federal government mandates that students who withdraw from all classes may only keep the financial aid they have "earned" up to the time of withdrawal. Title IV funds that have been disbursed in excess of the earned amount must be returned by HACC to the federal government. Thus the student could owe aid funds to HACC.
The unearned amount (total aid disbursed minus the earned amount) must be returned to the federal government by HACC. The Office of Financial Aid Services will notify students who are required to return funds to HACC.
Students whose circumstances require that they withdraw from all classes are strongly encouraged to contact the Office of Financial Aid Services and their academic advisor before doing so. At that time, the consequences of withdrawing from all classes can be explained.
Allocating Returned Title IV (Federal) Aid
Funds that are returned to the federal government are used to reimburse the individual federal programs from which the student received the aid. Financial aid returned by HACC must be allocated, in the following order, up to the net amount disbursed from each source:
Federal Unsubsidized Direct Loan
Federal Subsidized Direct Loan
Federal Direct PLUS (Parent) Loan
Federal Pell Grant
Federal Supplemental Educational Opportunity Grant (FSEOG)
Other Federal Loan or Grant Assistanc
To see an example of how a Return to Title IV is calculated click here.