Disbursement is when the financial aid funds on your award letter are transferred (credited) to your student account to pay current tuition, fees, and books (if applicable). Any credit balance will be sent through the Maricopa Student Refund Program (MSRP).
To receive your student refunds electronically, you will need to enroll with Money Network® using the link above. Refunds may include credit balances from financial aid, book advances, cash or check payments, payment plan payments, and scholarships.
Disbursement of financial aid is a federal process. Disbursement begins after the Pell Census date, which is the date by which you must register for all classes to be considered in determining final aid amounts for the semester. Courses also include those recognized through the completion of a consortium agreement. If you register for additional courses after this date, additional funds cannot be awarded. Awards for financial aid applications received after this date will be calculated based on your enrollment at the time the application is complete.Please note: Rio Salado College operates on semester blocks offered with modules and, as such, disburses funds on a pro rata basis per your enrollment status throughout a term. The final recalculation is based on enrollment status at the close of the drop/add period for the latest starting class that you are enrolled or expected to enroll. If all classes begin on the same date, the calculation is based on the drop/add period for the longest running class. If a course is assigned a “W” (withdrawal) prior to or on the close of the drop/add period of your latest starting class, the course will be treated as if you were not enrolled.
Any changes in enrollment will be assessed and may cause a revision to your financial award and disbursement.
Book advances, awarded in the pre-disbursement process, are a portion of your anticipated financial aid which allows you to purchase textbooks and other supplies prior to the start of the semester.
Filed under: Finances v.12