General Financial Aid Information
Financial Aid Disbursements
Initial financial aid funds are disbursed approximately four weeks after each term begins. Disbursements then occur weekly for any funds that have yet to be disbursed. 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. Students must be reported as attending course(s) in order for a disbursement to occur.
Disbursed financial aid that exceeds your balance owed to the college is considered excess funds. These excess funds create a refund. All refunds are processed through the BankMobile account. All ACTC students are mailed a Refund Selection Kit from BankMobile including account activation instructions. Once receiving the kit, you must log into this account at refundselection.com to select a refund preference of 1) Vibe Checking Account, 2) Direct Deposit, or 3) Paper Check.
If you choose to receive an Optional BankMobile Vibe Account, please keep your card in a safe location, as you will not receive a new one each year. If you are a new student, you should receive a debit card in the mail to the address listed in PeopleSoft Self-Service. New students should receive a debit card in the mail by the end of the second week of class. Students can check the delivery status of their card at bankmobilevibe.com/ or if you need further assistance, please contact the ACTC Payroll Office. The Payroll Office can also assist you with requesting a replacement card.
Visit bankmobiledisbursements.com/refundchoices for more information.
Students with excess financial aid on their account, after tuition and fees have been deducted and meet all other bookstore charging criteria, may use the excess financial aid to purchase books and other supplies from the campus bookstore or online at www.yourschoolyourbookstore.com. Bookstore charging privileges generally begin ten days before the semester starts and last nine days after the start of classes for fall and spring semesters. Please check with the ACTC Office of Financial Aid for summer bookstore dates.
Once the charge period ends, students are no longer eligible charge books/supplies to their financial aid. ACTC does reserve the right to process a manual book voucher in extremely unusual circumstances, again during a defined time period. Students with questions about this should contact the Office of Financial Aid.
Please note: Books/supplies may ONLY be charged to financial aid through the campus bookstore or the online bookstore at the link shown. If you wish to purchase books from another vendor, you will be required to pay out-of-pocket.
Instructors are required to report students not attending courses within a specific time-frame each semester. Your financial aid award(s) may be adjusted if you are reported as not attending. Students who have a question about the No Show process should contact the Office of Financial Aid.
Withdrawing from Classes
Please click here for more information on officially withdrawing from classes.
Return To Title IV (R2T4)
According to federal regulation 34 CFR 668.22, when a recipient of Title IV grants or Direct Loans completely withdraws from an institution during the semester in which he/she began attendance, or is unsuccessful in all classes, the institution must determine the amount of Title IV grant and/or loan assistance the student has earned. In other words, if a student does not remain enrolled for the entire period of the term, he/she has not earned all of his/her Title IV aid. In that case, the institution must complete a Return to Title IV calculation and determine how much aid the student actually earned. For more detailed information regarding this process, please see Return to Title IV Facts.
Notice of Federal Student Aid Penalties for Drug Law Violations
Please click here for more information on Federal Student Aid Penalties for Drug Law Violations.