Financial Aid Disbursements
How and when do I receive the remainder of my financial aid after tuition and book
charges (if any) are paid?
The financial aid section on your Student Self-Service account will show anticipated full-time aid up through the last day to enter a course
(census date). If you are enrolled in anything less than full-time, your anticipated
aid will then be adjusted. When your financial aid award is posted to your account,
your tuition, fees & any applicable book charges will be deducted.
Financial aid funds are disbursed approximately four weeks after each term begins.
In addition, first-time student loan borrowers are not allowed to receive a loan disbursement
until 30 days after their first term begins. The term "disbursement" refers to the earliest date the college may receive financial aid funds and apply
them to your account, not the date the student will receive a refund.
Refund represents funds being distributed to the student. Financial Aid is disbursed and
refunded according to established KCTCS, Southcentral Kentucky Community and Technical
College (SKYCTC), and federal timelines and guidelines. All refunds, not just financial
aid, are processed through your BankMobile Vibe account.
Only NEW students will receive mailed instructions on how to log into your BankMobile Vibe account to update your refund preferences. Your envelope should arrive in the mail
at your home address by the end of the second week of class. If a new student has
not received their "Refund Selection Kit" in the mail, go to www.refundselection.com and click on "Where's My Refund Selection Kit". There will be a prompt to enter the school's name, please type: "Kentucky Community
and Technical College System" and then enter your last name and student ID.
Contact the Tuition/Business Office for BankMobile Vibe assistance, or call BankMobile
Vibe directly at 866-629-4368. BankMobile Vibe student account holders now have fee-free access to cash at 55,000
Please read the information below carefully
- No financial aid funds are disbursed to students until attendance in class has been
confirmed by faculty. Grants and KEES are reduced for students reported as "no show"
for classes. Loans may be affected also. Students are reported as "no show" after
receiving a disbursement may be required to repay financial aid funds.
- Entrance Counseling and Master Promissory Note must be confirmed prior to loan disbursement.
- First-Year, First-Time Borrowers: All first-year, first-time borrowers are subject to a 30-day delay before a student
loan can be disbursed. You are considered a first-year, first-time borrower if you
have never attended SKYCTC/KCTCS OR no transfer credit from a previous college has been processed AND you have no student loan history with NSLDS. First-year, first-time borrowers should
receive all aid except loans on the fourth Thursday after the term begins; however,
loan refunds are issued on the sixth Thursday after the term begins. The 30-day delay
affects only the first loan disbursement. Subsequent loan refunds go out on schedule.
- Students Graduating in December: (enrolled for the fall term only, no plans to return for spring) whose financial aid
is awarded for fall only (no aid awarded for spring) will have loans prorated for
the fall semester and will have two disbursements for loans.
- Students enrolling for the spring term only: (were not enrolled at SKYCTC for the fall term or withdrew from fall and returned
for spring). The first half disburses/refunds according to the regular disbursement
schedule. The second half refunds approximately two weeks after mid-term.
- Students enrolling for the summer term: will receive specific summer information when available.
- Special Situations:
- Students whose financial aid is not packaged prior to the start of the semester should
expect their refund to be delayed.
- Students who begin classes outside the regular full-semester schedule should expect
their first refund about two - three weeks after classes start.
- Review Self-Service for any holds that may need to removed prior to disbursement EC,
MPN, NOR, FIN, etc. and contact the appropriate office to resolve.
- All charges must be collected prior to a refund being issued.
- Many factors outside the control of the Financial Aid Office may delay your refund.
Check the Academic Calendar for all the important dates such as the last day to receive a refund.