Disbursement of Financial Aid

A. General Information

1.   Student must be enrolled before funds may be disbursed. For more rules regarding Federal Aid program requirements, please refer to Course Program of Study FAQ on our website.

2.   Student eligibility must be confirmed by the Financial Aid Office before funds are disbursed.

3.   Students are expected to have sufficient funds for miscellaneous expenses when they arrive on campus.

4.   Students who are eligible for Federal financial aid must have on file a valid Student Aid Report in electronic form to the Financial Aid Office before funds are disbursed.

5.   Students must be fully accepted for admission to GC before funds may be disbursed.

6.   Specific questions on individual cases should be addressed to the Financial Aid Office at 478- 445-5149.

B. Loans (Students must be enrolled at least half-time.)

1.   Federal Perkins Loan: Students awarded this loan must sign a promissory note in the Student Loan Collections Office before funds may be disbursed.

2.   Federal Direct Stafford Loan: Under Federal Law: Students must complete a Loan Entrance Counseling session and sign a Master Promissory Note before funds may be disbursed.

3.   Federal Direct PLUS Loan: Parents who are awarded a Federal PLUS Loan must receive an approved credit decision from the lender and complete an electronic Master Promissory Note (MPN) before funds may be disbursed.  Remaining proceeds from the PLUS loan after the student’s bill is paid in full, will be disbursed in a check payable to the parent or check/direct deposit made payable to student as indicated on PLUS application, approximately 7 days after the end of the drop/add period each semester.

4.   Federal Perkins, Federal Direct Stafford, Federal Direct PLUS Loans: Borrowers who use these funds to finalize Business Office bills may elect to cancel their loans and use another form of payment within 30 days of disbursement. The Financial Aid Office must be notified in writing of the cancellation within 30 days of disbursement.

C. Disbursement Procedures

Once all requirements have been met:

1. Funds awarded from the following may be applied directly to the student's Business Office account:

2. These awards will be authorized to the student's Business Office account once classes have been reserved.

3. Any remaining balance to the student's account must be paid to the GC Business Office prior to the published deadline in order to reserve classes.

4. Eligibility is reviewed again at the end of the drop/add period (census date), and appropriate funds are disbursed to the student's Business Office account.

5. Once the Business Office bill has been settled, remaining aid may be used towards the purchase of books at the Barnes & Noble at Georgia College bookstore beginning approximately 3 days prior to the first day of classes through the end of the drop/add period.  Students must complete the electronic authorization via their Unify (PAWS) account prior to visiting the bookstore.

6. If the amount of financial aid awarded exceeds tuition and fees due at registration, the difference will be disbursed in the form of a check or direct deposit, if selected, by the GC Business Office, 111 Parks Hall, approximately seven days after the end of the drop/add period.

7. Students who use personal funds to pay for tuition and fees may receive reimbursement checks or direct deposit, if selected, from the GC Business Office approximately seven days after the end of the drop/add period if aid is received after payment is made.

8. Financial aid awards made after the student's bill is satisfied will be disbursed within 10 days after awards are made.

9. All refund checks can be picked up at the Business Office with Bobcat Card Identification.  Request forms for mailing checks are also available through the Business Office.