Financial Aid Refunds

Financial Aid Refund Process

Students may receive a financial aid refund for a number of reasons, including:

  • Dropping or canceling a class
  • Receiving a scholarship or financial aid in excess of tuition costs

BankMobile logo When these refunds occur, SPSCC is committed to providing clear choices and great service to students. We have partnered with BankMobile to provide our students with financial aid disbursements. Students who have a completed financial aid file will receive communication from BankMobile via mail and email on how to choose a refund preference. For more information about BankMobile, visit this link: http://bankmobiledisbursements.com/how-it-works/.

Eligibility to receive a refund

To be eligible to receive a refund, students must meet the following conditions:

  • Be enrolled in the appropriate number of credits based on their financial aid award.
  • Have paid tuition in full.
  • Be awarded funds beyond the cost of tuition.

Requirements for receiving funds

When you receive funds, you are certifying that:

  • You are attending, or will attend, all of your classes.
  • If you withdraw from a class, you acknowledge you are REQUIRED to submit proof of attendance using the Attendance Verification Form prior to withdrawing.
  • If at the end of the quarter you have not completed the required credits based on the level of financial aid you received you may owe a repayment. In addition, you may be placed on financial aid warning or suspension.

When funds are disbursed

  • Financial aid is generally disbursed during the week prior to the start of the quarter.
  • Due to federal fiscal regulations, Summer Quarter disbursements are made the first business day after July 1, regardless of the first day of Summer Quarter start.
  • For more important dates, see the Academic Calendar.