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Business Services DisbursemenT

Approved and registered Federal Financial Aid recipients will have a bookstore credit authorization available to purchase books at Barnes & Noble AWC Bookstore during Fall and Spring semesters only. Loan and Scholarship recipients should request a bookstore credit authorization at the Disbursement Office.  Once requested please allow 3 business days for the available Bookstore credit authorization to process.
 
Summer 2014 Disbusement Dates: TBA
Note: No bookstore vouchers will be available for Summer 2014.  Students are responsible to purchase their own textbooks.
 
Fall 2014 Disbursement Dates:TBA
Opt-out of bookstore vouchers deadline: TBA
       Bookstore OPT OUT  Terms and Conditions:
If you don't want to participate in the bookstore voucher process, you must complete the authorization to OPT OUT BOOKSTORE VOUCHERS FORM.  Your Title IV funds will be released according to the published disbursement schedule that is applicable to all financial aid recipients and no bookstore vouchers will be available for use.  Valid for 5 years.
 
For faster and more convenient access to your refund, it is recommended that you sign up for ACH Direct Deposit.  If you do not set up Direct Deposit, your check will be mailed out. No pick-ups.
Instructions for Direct Deposit:
  • Setup Toro email account to receive confirmation.
  • Go to WebAdvisor/Registration
  • Student Login
  • Under Financial Information
  • Click on Bank Information
  • Add your account number and routing number
    • How do I find the routing number and bank account number? Click here.
  • To setup a WebAdvisor account & Toro email call the AWC Helpdesk (928)317-5892.

If you have a prior balance, your disbursement will not be processed.

Financial Aid will not fund any repeated courses if the course has already been successfully completed. Financial Aid will not fund credit/no-credit courses.
 

Return of Federal Funds Policy

This policy governs all federal grant and loan programs (Pell, SEOG, ACG Grant, Stafford Loans), but does not include the Federal Work-Study program.

The Higher Education Amendments of 1998 pertain to the Return of Title IV Federal Financial Aid when a student withdraws completely from school. Title IV funds are awarded to a student under the assumption that the student will attend school for the entire period for which the assistance is awarded. When a student withdraws, the student may no longer be eligible for the full amount of Title IV funds that the student was originally scheduled to receive.

In general, the law assumes that a student “earns” approved (verified) federal financial aid award in proportion to the number of days in the term prior to the student’s complete withdrawal. If a student completely withdraws from school during a term, the school must calculate, according to a specific federal formula, the portion of the total scheduled financial assistance that the student has earned and is, therefore, entitled to retain, until the time that the student withdrew. This policy governs the earned and unearned portions of the student’s Federal Title IV Financial Aid only. It determines how much, if any, the student and/or the school may need to return. This policy does not affect the student’s charges.  The student is responsible for paying any outstanding charges to the school.

Return of Funds Calculation

  • The responsibility to repay unearned aid is shared by the institution and student in proportion to the aid each is assumed to possess.
  • During the first 60% of the enrollment period the student “earns” Title IV aid in direct proportion to the length of time he or she remains enrolled.
  • Percentage is calculated by dividing the number of days completed in the term by the number of calendar days in the term.
  • Percentage is applied to the amount of disbursable aid to the student for that period of enrollment.

Order of Return of Title IV Funds
A school must return Title IV funds to the programs from which the student received aid, up to the net amount disbursed from each source:

  • Unsubsidized Federal Stafford loans
  • Subsidized Federal Stafford loans
  • Unsubsidized Direct Stafford Loans
  • Subsidized Direct Stafford loans
  • Federal Perkins loans
  • Federal PLUS loans
  • Direct PLUS loans
  • Federal Pell Grant
  • FSEOG (Federal Supplemental Educational Opportunity Grants)
  • Other Title IV assistance

Student Repayment Responsibility
The student is obligated to repay grant overpayments. Upon submission of the withdrawal card, the Financial Aid Disbursement Office will notify the student, in writing, of the amount of overpayment and available payment arrangements.  If not paid within 45 days, the US Department of Education will be notified.

No-shows
Students are expected to attend every class session in which they are enrolled.  Students who have enrolled but have never attended class may be issued a No Show grade by the professor or instructor and receive a grade of “NS” on their official academic record.  If this occurs, it is the student’s responsibility to repay the Financial Aid award, accordingly, for the classes not attended.

 

Financial Aid Disbursement:
 

Contact us:
Phone: (928) 344-7637
Email Us:
Financial Aid Disbursement

Regular Office Hours: Monday-Thursday
7:00a.m. - 5:00p.m.

Holiday Office Hours 2014:
Offices closed/No classes
 May 26: Memorial Day
 Sept. 1: Labor Day
 Nov. 11: Veterans Day

IMPORTANT MESSAGE REGARDING PAYMENT: Financial Aid must be awarded on your student account to hold registered courses. If it has not, you are responsible to pay your expenses at the time of registration. If you decided NOT to attend AWC; it is your responsibility to drop or withdraw from your class(es). You will also be responsible for immediate repayment of your grant and/or scholarship if you never attend class(es), if you drop/withdraw, or if your class(es) are canceled. It is important that you contact us at (928)344-7637 if you have Financial Aid and make any changes to your registration.
Financial Aid must be awarded on your student account by Thursday at 3:00p.m. to receive a check the following Thursday. For January and August see disbursement dates.

Forms:
Disbursement Authorization
Opt-Out of Bookstore Voucher Form

 

 

 

 

 

 

 

 

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