Awarding and Disbursement Information
Your enrollment will determine your actual financial aid disbursement. The award amounts indicated on your Financial Aid Award Letter are an estimate based on full time enrollment (12 credit hours or more for Federal programs and 15 credit hours for the Illinois Monetary Award Program Grant). The actual amount you receive is based on your enrollment and the requirements of the student aid programs for which you qualify. If you are not enrolled as a full-time student at the time of disbursement, your aid awards are adjusted accordingly.
To be considered enrolled in a course for financial aid purposes; you must be registered in the course before the 50 percent refund period for the class concludes.
If you enroll in a course beyond the refund period, your financial aid package will not reflect that course. Students may retake courses as often as desired; however, financial aid will only pay for a repeated course once after a course has been successfully completed.
Pending financial aid funds are credited to your account in the Business Office and will be applied to your institutional charges approximately the third week of classes. Students with sufficient pending financial aid to cover all tuition and fees may use a portion of the remaining Pell Grant funds to purchase necessary books and supplies in the Triton College Bookstore one week prior to the start of the semester.
Any remaining monies after tuition is paid and books are purchased will be issued to students as outlined below:
- Based on our current participation in a study that tests a new way of delivering financial aid to students whose remaining monies exceed $1,200, the refund may be issued in one of two ways:
- Eight equal checks to be mailed to the home address listed at Triton College every two weeks over the course of the semester (students will be notified of their selection into this disbursement method via e-mail prior to the start of the semester) or
- One check mailed to the home address listed at Triton College within 8 to 10 weeks from the start of the semester.
- For all students whose remaining monies are less than $1,200, the refund will be issued in the form of a check mailed to the home address listed at Triton College within 8 to 10 weeks from the start of the semester.
Subsidized and Unsubsidized Federal Direct Stafford Loan funds will be applied directly toward your account. Loan proceeds that exceed tuition and fees will be refunded to you in the form of a check.