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Financial Aid Disbursements

Federal Pell Grant and FSEOG
  • As noted on the student's Award Notice.  (Typically 2 weeks after the date of midterm.)  
  • At the time of disbursement, the award amount will be prorated based on the amount awarded and level of enrollment.

Federal Work-Study wages
  • Disbursed directly to the student every two weeks.

Federal Student Loans

  • As scheduled and processed, but no sooner than 30 days after the beginning of a semester. (One of the final steps in the loan process is the loan certification performed by the college's Financial Aid Office.  This cannot be done until after the add/drop period of the semester; funds are not available until after the loan is certified.)
  • Financial Aid Administrators will send a paper notification to students post-disbursement that the loan funds have been disbursed.

MAP Grant
  • As funds are released by the state. No cash disbursements made; approved amount is credited to the student account as received.

 

Students who have a completed a Financial Aid file showing Federal financial aid eligibility will be allowed to charge direct costs (e.g., tuition, fees, books, and supplies) to Illinois Eastern Community Colleges upon signing a Title IV Authorization Form. (During summer semester, students may be required to cover the costs of books and supplies). 

Once the financial aid award amount is processed and disbursed, the funds will be applied to outstanding direct charges on the student's account.  If a credit balance results, this amount will be refunded to the student within 14 days of the date of disbursement.  
 

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