Credit Balance Refund Process
Disbursing Aid and Credit Balance Refund Process
- What is a "credit balance refund?"
- How often will financial be disbursed to students' accounts?
- Can financial aid be disbursed after the end of a semester?
- When will my refund be processed?
- Is there a way I can see when my financial aid will be disbursed?
- If I received a refund why do I still owe TCC money for the semester?
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There are instances when a student’s total financial aid packaged exceeds his/her institutional costs. When this occurs, a credit balance is created on the student account. When a credit balance is present on the student account a monetary refund is issued to the student. Refund balances will be issues to the student's personal Tulsa CC Card unless the student makes other arrangements.
The TCC Financial Aid Office delays the first payment of aid for the semester by approximately two weeks after class starts. Once the Financial Aid Office begins disbursing aid for a semester, disbursement will continue almost daily throughout the semester until the end of classes.
Yes. Students are eligible to receive late disbursements, which are disbursements that occur after the end of a semester; however, there are strict rules in place as to when the Financial Aid Office can disburse financial aid after the end of a semester. Not every student can qualify for a late disbursement. Students with questions or concerns about disbursements for a closed semester should contact a Financial Aid Office.
The Bursar Office review student accounts for credit balances and process refunds at the beginning of the week. Generally, refunds of a credit balance will become available to students through their Tulsa CC Card every Tuesday of the semester. The process may be altered due to holidays, snow days and other unforeseen circumstances. Barring these instances, TCC makes a great effort to maintain a consistent credit balance refund process.
Students who are scheduled to received a disbursement can log onto The Financial Aid Dashboard through MyTCC and review financial aid and disbursement information on the Financial Aid Dashboard.
Refunds are issued after all institutional costs have been paid. Should a student incur additional school-related expenses after all of the financial aid is disbursed, such as enrolling in a class starting later in the semester, the student is obligated to cover these additional costs. Students who have an outstanding balance maybe be ineligible from future enrollment at TCC, and may be denied their TCC transcript until the balance is paid.
Additionally, disbursed money may be returned by the Financial Aid Office, or another TCC office, if a student was found to be ineligible for funds paid to his or her account. Should that occur, students are responsible for repaying any disbursed money owed back to the school.