How are Awards Disbursed?

Eligible financial aid recipients may register for classes and charge tuition and fees against the scholarship or grant amount indicated on the financial aid award notice for the applicable semester. If the scholarship or grant is more than the total amount of tuition and fees, the remainder may be used for other educational expenses. A refund for the remainder of the award(s) will not be available until after the refund period has passed and enrollment verification has been completed each semester. If, after receiving a refund check, a student’s class is cancelled or changed to an audit or the student is dropped from a class, the student will owe back a portion of the refund applicable to the change in enrollment.

Refunds are delivered to students by utilizing the Daytona State OneCard.  Each registered Daytona State student will receive a Daytona State OneCard.  The card will arrive in the mail at the student’s primary address on file with the College.  To receive the refund, the student must activate the Daytona State OneCard.  During card activation, the student chooses how to receive the refund money.

The options for receiving financial aid refunds include: a direct deposit to the student’s Daytona State OneCard; a deposit to the student’s bank of choice; a paper check mailed to the student.

Students activate the Daytona State OneCard and make the refund selection online at http://www.dbcOne.com.

Refunds are applicable to scholarships, grants, Stafford and Parent PLUS loans.

Please Note: Institutional fee waivers are issued for tuition only and may not be used for other educational expenses. Any funds not used as tuition will not be refunded to the student. A Federal Workstudy award cannot be used to charge fees.

Stafford and Parent PLUS Loan funds are disbursed by the lender through EFT (electronic funds transfer) directly to the student’s account. Please note, per federal regulations, the earliest date a loan may be disbursed to a student who has not completed a minimum of 30 credits in his or her current course of study at Daytona State is 30 days after the first day of classes. Additionally, all first-time borrowers at Daytona State must complete loan entrance counseling before their loan proceeds may be disbursed. Loan entrance counseling cam be completed online at the following address: http://mapping-your-future.org. 

A student attending both Fall and Spring Semesters will receive one disbursement of one-half of the total loan proceeds per semester (as long as a minimum of half-time [six credits] enrollment is maintained).  A student attending one semester (Fall or Spring) will receive the loan proceeds of one-half of the total loan amount in two disbursements.  Per Federal regulations, the second half of the loan may not be disbursed until a minimum of one-half of the semester has elapsed.  A loan disbursement will not be made after a student ceases to be enrolled in at least six credit hours.

rev. 3-03-08

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