Financial Aid Disbursements
Financial aid funds are disbursed approximately four weeks after each term begins. 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.
Refund represents funds being distributed to the student. Financial Aid is disbursed and refunded according to established KCTCS, Southcentral Kentucky Community and Technical College (SKYCTC), and federal timelines and guidelines. Please read the information below carefully.
No financial aid funds are disbursed to students until attendance in class has been confirmed by faculty. Grants and KEES are reduced for students reported as "no show" for classes. Loans may be affected also. Students are reported as "no show" after receiving a disbursement may be required to repay financial aid funds.
Entrance Counseling and Master Promissory Note must be confirmed prior to loan disbursement.
All refunds are processed by the Tuition/Business Office. Refunds are processed weekly on Wednesday evenings and funds are sent to Higher One to distribute to students on Thursday.
All refunds, not just financial aid, are processed through your KCTCS Debit Card/Higher One account. All SKYCTC students are mailed a KCTCS Debit Card from Higher One including activation instructions. You must select a refund preference at www.kctcsdebitcard.com, where you may select from a variety of options including Direct Deposit to your regular banking account.
Only NEW students receive a debit card. Your debit card should arrive in the mail at your home address by the end of the second week of class. Check the delivery status of your card at www.kctcsdebitcard.com or contact the Tuition/Business Office for a replacement card or card assistance.
When Should I Expect My Refund?
Refunds for the fall term are scheduled to begin on September 10, 2015.
Students Graduating in December (enrolled for the fall term only, no plans to return for spring) whose financial aid is awarded for fall only (no aid awarded for spring) will have loans prorated for the fall semester.
Students enrolling for the spring term only (were not enrolled at SKYCTC for the fall term or withdrew from fall and returned for spring). The first half disburses/refunds according to the regular disbursment schedule. The second half refunds approximately two weeks after mid-term.
Students enrolling for the summer term will receive specific summer information when available.