Darton State College Financial Aid | Disbursement and Refund Schedule
Financial Aid Disbursement & Refund Schedule
Student account excess checks for Summer 2016
will be mailed no later than June 16, 2016
Excess is the term we use to refer to remaining money left over on a student account after all charges to the account have been paid.
After all funds are posted to student accounts and student attendance is verified by faculty, any remaining Excess is remitted to the student by check mailed via USPS.
Department of Education regulations require that a student must attend at least 1 day of class to be eligible for federal financial aid (including loans). Therefore, the College must review proof roll attendance for students receiving federal financial aid prior to distributing excess funds.
After the first disbursement date each semester, excess funds are distributed once per week. After the first initial excess disbursement for each semester, weekly disbursements are processed thereafter, pending no system downtime or conflicts such as holidays. Excess disbursements are processed for the prior week’s Financial Aid transactions posted on the student’s account. Therefore any loans posted Tuesday thru Friday to a student’s account will be processed for excess disbursement the following week.