Policy on Disbursements

Financial Aid Awards

Once class attendance is verified each term, financial aid is disbursed to the student’s account. If the student's aid is greater than the total tuition, fees, and bookstore charges for the term, the student may qualify for a financial aid disbursement check.

Bookstore Advance

Students are eligible for a Bookstore Advance up to $2,500 prior to the start of the term, if their financial aid exceeds their charges for tuition and fees. The Bookstore Advance will allow students to purchase books and supplies prior to the beginning of the term at the Campus Bookstore. The Bookstore Advance is calculated by subtracting tuition and fees from the amount of authorized aid up to a maximum Bookstore Advance of $2,500. 

Students may purchase one laptop using the Bookstore Advance during their time at Piedmont Tech.

Disbursements

Once a student's financial aid is transferred to their account, if the amount of the student's financial aid exceeds tuition, fees, bookstore charges, and other institutional charges on the student account, the student is entitled to a disbursement check. Students will need to plan ahead for other expenses such as rent, transportation and child care until the financial aid check disbursement dates.

Grants and Scholarships are paid in one disbursement. See the dates listed on the website in the Student Handbook and Calendar and on the Student calendar.

Student Loans

Students must be enrolled in at least 6 credit hours at the time of loan disbursement. All student loans are required to have two equal disbursements. Traditionally, loans are awarded over two payment periods, Fall and Spring. Half of the loan will be disbursed in the Fall and half in the Spring.

If a student opts for a one term loan (for example, Fall only), the second loan disbursement comes aftter the mid-point of the semester.

Student Benefits:

• Provides funds for books and supplies prior to the start of the term.
• Assists with budgeting and planning for the entire term.
• Increases student success.
• Decreases the amount of student loan defaults.
• Ensures financial aid is based on actual enrollment.
• Meets federal financial aid accountability requirements.
• Saves college resources to help keep tuition low.

Disbursement Advance

A disbursement advance is an advance against an expected financial aid refund and is intended to help students meet their short term financial needs. Disbursement advance requests are available only to students receiving sufficient financial aid to create a credit balance after tuition and fees are paid. The maximum refund advance is $1,000 per semester, not to exceed the credit balance.

In order to request a disbursement advance you must:

1. Complete all financial aid requirements and have a pending credit balance applied to your account by 30 days prior to the start of classes. Due to processing time, students must have all financial aid requirements, including loan applications, submitted 45 days prior to the start of classes.
2. Submit an application to the Business Office 30 days prior to the start of classes. Application can be found in Pathway.
3. Register at least half time (6 credit hours) for the upcoming semester by 30 days prior to the start of classes.
4. Be meeting Satisfactory Academic Progress. Students who have an approved appeal are eligible for a disbursement advance.