Financial Aid Disbursement and Adjustments

The first date Harper College disburses financial aid to students' accounts occurs approximately three weeks after classes begin in the term and every Wednesday thereafter. Dates are subject to change without notice. See important payment, financial aid, and registration dates.

Harper College must follow federal and state financial aid program regulations and deadlines. Some regulations and policies impact the date when we are permitted to disburse your aid.

• Any changes in your enrollment can affect financial aid disbursed, Satisfactory Academic Progress and your Unusual Enrollment history.
• At the time your financial aid is ready for disbursement, your hours are locked/frozen and your financial aid is paid based on the number of eligible financial aid hours at that time.

• Financial aid will only pay for a repeated course once after a course has been successfully completed.
• As a first-time borrower, the U.S. Department of Education requires that a student complete the first 30 days of their academic program before receiving the first loan disbursement. 

When financial aid funds are disbursed, these are credited directly to your Harper College account through the Business Office. The Business Office offers arrangements for Direct Deposit or will mail you a check for the remaining eligible funds within 10 business days from the date the funds are credited to your account.

There may be situations when your financial aid is required to be adjusted per regulations or policies.

Important reminders:

• Need to drop or withdraw from a class? Talk to your instructor, academic advisor and the One Stop before doing so.
• To drop a course is when a student removes themselves from a class within the 100% refund period.
• To withdraw from a course is when a student removes themselves from a class after the 100% refund period.

 

Course Additions

If you add a course(s) after your hours are locked/frozen:

• Federal grants will not be increased.
• The State of Illinois Monetary Award Program Grant (Est) may be increased, if eligible.
• Federal student loans cannot be disbursed until the student is enrolled at least half time (6 hours) AND is actually attending at least 6 hours of their classes.

 

Course Withdrawals

• If you withdraw from all of your courses after the 100% refund period, and have Federal grants and/or Federal Direct Loans, a calculation is performed to determine if there is reduced aid eligibility. This may result in a balance due in your Harper account.
• If you drop/withdraw from any course(s) within the 100% refund period, federal and state grants may be recalculated. This may result in a balance due in your Harper account.
• If you are a Federal Work Study student and you drop/withdraw below half time (6 credit hours), you will lose eligibility and can no longer work.
• If you have Federal Direct Loans and drop/withdraw from a course(s) within the 100% refund period that brings your total hours below half time (6 credit hours), your loans will be fully cancelled. This may result in a balance due in your Harper account.
• If you have a scholarship, any changes in enrollment may affect your award. This may result in a balance due in your Harper account.

Financial aid regulations specify what charges on your student account your federal financial aid can pay during the current payment period. Federal financial aid pays tuition and fees, without an authorization. Harper College is required to obtain your authorization to use federal financial aid funds to pay for other allowable educationally related charges on your student account. Harper College is also required to obtain your authorization to use excess current academic year federal financial aid to pay up to $200 of prior academic year educationally related charges (other than tuition and fees). Your authorization can be cancelled or modified at any time by submitting a written request. A cancellation or modification is not retroactive. It takes effect on the date it is received by the College. If the authorization is cancelled or modified, the College may use federal financial aid funds to pay only those authorized charges incurred by the student before the College received the notice.

Financial aid regulations specify what charges on the student account federal financial aid can pay during the current payment period. Federal financial aid pays tuition and fees, without an authorization. Harper College is required to obtain your authorization to use federal financial aid funds (Federal Direct PLUS Loan) to pay for other allowable educationally related charges on the student’s account. Harper College is also required to obtain your authorization to use excess current academic year federal financial aid (Federal Direct PLUS Loan) to pay up to $200 of prior academic year educationally related charges (other than tuition and fees). Your authorization can be cancelled or modified at any time by submitting a written request. A cancellation or modification is not retroactive. It takes effect on the date it is received by the College. If the authorization is cancelled or modified, the College may use federal financial aid funds to pay only those authorized charges incurred by the student before the College received the notice.