Disbursement Information: Summer 2016

Financial Aid will be applied toward your tuition, fees, and other authorized charges on July 1, 2016 after 1 p.m. if you have met all requirements.  Login to your Bobcat Web Account and click ‘My Overall Status’.

Refunds and Account Balances
Check your Bobcat Web Account to see if a "Refund(s) sent to processor" is posted.  Once this message is posted to your Bobcat Web Account, the process can take 2-14 days for you to receive funds depending on your refund selection.

Pay any balance due to COCC after financial aid has been disbursed by Friday, July 8, 2016 to avoid late fees.  You may view your balance online through your Bobcat Web Account.  You are responsible for all charges not covered by financial aid funds. A late fee of $30 will be imposed for outstanding balances not paid by July 8, 2016.  Additional late fees will be assessed weekly to a maximum of $90.

Registration and Enrollment 
The amount of financial aid you receive depends on the number of credit hours in which you are enrolled in on July 1, 2016 and may be different from your offer amount. 

  • Offered amounts default to full-time (12 or more credit hours) but will be adjusted during the second week of the term based on your enrollment.
  • Late starting or short-term classes in which your are enrolled in are included in your enrollment for financial aid.  Financial aid may not disburse until your classes begin.
  • Dropping a late starting class within the 100% refund period, not attending or having a class cancelled may result in a reduction of financial aid.
  • Adjustment to financial aid for increased enrollment may be made only if you are waitlisted in a late starting class on July 1, 2016; AND add the class within the 100% refund period: AND notify the Financial Aid Office after adding the class.
  • For more information, please review the payment schedule for part-time enrollment.  
Disbursement schedule for less than full time enrollment
  1-5 credits 6-8 credits 9-11 credits
Pell Grants* 25% 50% 75%
Supplemental Education Opportunity Grant  100%  100%  100% 
Direct Stafford Loans not eligible 100% 100%

*Depending on enrollment, expected family contributions of 3501 or higher may not calculate with the above percentages.

Bookstore Credit
You may be able to purchase up to $600 in books and supplies on credit at the COCC Bookstore beginning May 31, 2016.  If eligible, you may charge books at the COCC Bookstore until 1 p.m. July 1, 2016.

  • To be eligible for a bookstore credit, all requirements must be satisfied, your award(s) must be accepted, you must be enrolled, your accepted financial aid must be more than your other term expenses, and you may not have an outstanding account balance.
  • Check your ‘ Bobcat Web Account’ to see if you have a bookstore credit.
  • Books and supplies charged at the Bookstore will be deducted along with tuition and fees from your total financial aid award for the term.  

All Loan Borrowers at COCC
To receive a loan, you must be enrolled in 6 or more credits at the time of disbursement to be considered eligible for federal student loans.

  • You have the right to decline a loan disbursement or cancel the loan in part or entirely.  Notify the Financial Aid Office in writing within 60 days of your loan disbursement if you want to cancel part or all of your loan.
  • If you are a new student receiving loans for the first time at COCC, your loan disbursement(s) will be delayed 30 days from the start of the term.  Your loans will be applied July 20, 2016.
  • If you have a one term loan, it will be divided into two disbursements, the second half being applied July 25, 2016.

Repayment of Financial Aid
Students earn their federal financial aid by attending class.  If you are not enrolled long enough to earn all of your aid, the unearned portion must be repaid.

  • Completely withdrawing, auditing or ceasing to attend may result in financial aid repayment and may affect future financial aid eligibility.  Incomplete (I) grades may also result in financial aid repayment and affect your completion rate.
  • Please speak to a Financial Aid Specialist before withdrawing for classes.
  • For more information, review the Repayment of Financial Aid policy.

Satisfactory Academic Progress:
To maintain eligibility for financial aid, a student must comply with standard requirements.  Failure to meet these requirements may result in the denial of federal financial aid at COCC.

  • Student must maintain a cumulative GPA of 2.0 and a completion rate of 66.67% or better.
  • Financial aid is limited to 150% of a student's program credit length (approximately 135 credits for a two-year degree and 75 for a one-year certification.  As soon as it is clear the student cannot graduate within this period, they become ineligible for aid.
  • For more information, review the complete Satisfactory Academic Progress policy.

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