Financial Aid Refunds

If you are eligible for financial aid, the Office of Financial Aid will deposit your financial aid dollars (funds) in your student account. These funds will be used to pay your tuition, fees, and any bookstore purchases that you have charged to your student account. if there are funds left over after these expenses, this will be your refund.

Your Financial Aid award, minus your semester charges, is your refund

Financial Aid will post financial aid funds to your account after the start date for each 15-week, 12-week, or 8-week academic session. The table below details the specific payment and refund dates for each upcoming academic session. All refunds are processed by BankMobile Disbursements, a technology solution, powered by BMTX, Inc. To ensure your refund is processed in a timely manner, we encourage you to select your refund preference with BankMobile Disbursements prior to the posted refund date.

Refund Schedule

Winter 2025

30-Day, First-Time Borrower Delay Refund Schedule

If you are a first-time borrower, you will have a 30-day First Time Borrower Delay (see refund schedule below) and loan funds will not be posted to your account until that time.

Fall 2024

Winter 2025

If you have questions about how your charges or refund were calculated, or would like to review all of your student account information, login to the HFC Self-Service Account Summary.

One-Semester Loan

Loans offered as a one-semester loan will pay out in two equal disbursements. The first disbursement is at the start of the semester (or after you begin your 6th credit hour if you are in late-starting classes) and the second disbursement is at the midpoint of the semester. The student must be enrolled in at least 6 credit hours at the time of disbursement to be eligible for the funds.

Examples of one-semester loans:
* Student receiving loan funds in Winter but did not receive loan funds during Fall
* Any loan offered for Summer
* Student added additional loan funding during the semester

15-week, 1st 8-week and 12-week students offered a one-semester loan will receive the first half of their loan funds based on the refund dates listed above. The second half of the loan will be refunded on or after March 13, 2025

Requirement to attend classes

You must be currently attending classes to receive financial aid and any refund. If you do not attend your classes or if you drop all of your classes during the add/drop period, you will not receive a refund for any remaining balance on your account. These funds will be returned to the financial aid programs from which they were received.

Requirement to retain at least 6 credit hours per semester

If you are receiving Subsidized or Unsubsidized Direct Loans, you must retain at least half-time student status. This means at least 6 credit hours per semester. You will lose your financial aid eligibility and will not receive any funds if your attendance drops below half-time status during the add/drop period or before funds are disbursed to your student account.

Right to cancel your loan within 14 days

If you are receiving a Direct Loan(s), you have the right to cancel all or a portion of your loan(s) within 14 days of receiving the funding. If you are interested in canceling all or a portion of your Direct Loan(s), please put your specific request in writing and contact the Office of Financial Aid. You will need to return any funds received.

Taxability of grant funds

Students who receive grant funds in excess of amounts charged for tuition, fees, and books may be required to list that excess amount on their federal tax returns (please consult with a tax professional).