Financial Aid Refunds
If you are eligible for financial aid, the Office of Financial Aid will deposit your financial aid dollars (funds) in your student account. These funds will be used to pay your tuition, fees, and any bookstore purchases that you have charged to your student account. if there are funds left over after these expenses, this will be your refund.
Your Financial Aid award, minus your semester charges, is your refund
Financial Aid will post financial aid funds to your account after the start date for each 15-week, 12-week, or 8-week academic session. The table below details the specific payment and refund dates for each upcoming academic session. All refunds are processed by BankMobile Disbursements, a technology solution, powered by BMTX, Inc. To ensure your refund is processed in a timely manner, we encourage you to select your refund preference with BankMobile Disbursements prior to the posted refund date.
Refund Schedule
Fall 2022
| Section schedule type | Funds applied to accounts, beginning | Refund available, beginning |
|---|---|---|
| 15-week classes | September 12, 2022 | September 15, 2022 |
| 1st 8-week classes | September 12, 2022 | September 15, 2022 |
| 12-week classes | September 27, 2022 | October 6, 2022 |
| 2nd 8-week classes | October 25, 2022 | November 3, 2022 |
Winter 2023
| Section schedule type | Funds applied to accounts, beginning | Refund available, beginning |
|---|---|---|
| 15-week classes | January 25, 2023 | February 2, 2023 |
| 1st 8-week classes | January 25, 2023 | February 2, 2023 |
| 12-week classes | February 8, 2023 | February 16, 2023 |
| 2nd 8-week classes | March 21, 2023 | March 30, 2023 |
Summer 2023
| Section schedule type | Funds applied to accounts, beginning | Refund available, beginning |
|---|---|---|
| 15-week classes | May 19, 2023 | May 25, 2023 |
| 1st 8-week classes | May 19, 2023 | May 25, 2023 |
| 12-week classes | June 6, 2023 | June 8, 2023 |
| 2nd 8-week classes | July 11, 2023 | July 13, 2023 |
30-Day, First-Time Borrower Delay Refund Schedule
If you are a first time borrower you will have a 30-day First Time Borrower Delay (see refund schedule below) and loan funds will not be posted to your account until that time.
Fall 2022
| Section schedule type | Refund available, beginning |
|---|---|
| 15-week classes | September 29, 2022 |
| 1st 8-week classes | September 29, 2022 |
| 12-week classes | October 20, 2022 |
| 2nd 8-week classes | November 22, 2022 |
Winter 2023
| Section schedule type | Refund available, beginning |
|---|---|
| 15-week classes | February 16, 2023 |
| 1st 8-week classes | February 16, 2023 |
| 12-week classes | March 2, 2023 |
| 2nd 8-week classes | April 13, 2023 |
Summer 2023
| Section schedule type | Refund available, beginning |
|---|---|
| 15-week classes | June 15, 2023 |
| 1st 8-week classes | June 15, 2023 |
| 12-week classes | June 29, 2023 |
| 2nd 8-week classes | August 3, 2023 |
If you have questions about how your charges or refund were calculated, or would like to review all of your student account information, login to the HFC Self-Service Account Summary.
Requirement to attend classes
You must be currently attending classes to receive financial aid and any refund. If you do not attend your classes or if you drop all of your classes during the add/drop period, you will not receive a refund for any remaining balance on your account. These funds will be returned to the financial aid programs from which they were received.
Requirement to retain at least 6 credit hours per semester
If you are receiving Subsidized or Unsubsidized Direct Loans, you must retain at least half-time student status. This means at least 6 credit hours per semester. You will lose your financial aid eligibility and will not receive any funds if your attendance drops below half-time status during the add/drop period or before funds are disbursed to your student account.
Right to cancel your loan within 14 days
If you are receiving a Direct Loan(s), you have the right to cancel all or a portion of your loan(s) within 14 days of receiving the funding. If you are interested in canceling all or a portion of your Direct Loan(s), please put your specific request in writing and contact the Office of Financial Aid. You will need to return any funds received.
Taxability of grant funds
Students who receive grant funds in excess of amounts charged for tuition, fees, and books may be required to list that excess amount on their federal tax returns (please consult with a tax professional).