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. To ensure your refund is processed in a timely manner, we encourage you to select your refund preference with BankMobile prior to the posted refund date.

Refund Schedule

Winter 2022

Section schedule type Funds applied to accounts, beginning Refund checks available, beginning
15-week classes January 26, 2022 February 3, 2022
1st 8-week classes January 26, 2022 February 3, 2022
12-week classes February 9, 2022 February 17, 2022
2nd 8-week classes March 22, 2022 March 31, 2022

Summer 2022

Section schedule type Funds applied to accounts, beginning Refund checks available, beginning
15-week classes May 20, 2022 May 26, 2022
1st 8-week classes May 20, 2022 May 26, 2022
12-week classes June 7, 2022 June 9, 2022
2nd 8-week classes July 12, 2022 July 14, 2022

Summer Loans

Summer loans are paid out in two disbursements. Unless student is on the 30-day, First-Time Borrower Delay, the first disbursement of a summer loan will be May 20, 2022 as long as the student is enrolled in at least 6 credit hours of required classes.

The second loan disbursement will be made June 27, 2022 (refunded June 29, 2022), as long as the student remains enrolled in 6 credit hours of required classes.

For loans that pay out after June 27, 2022, the full amount will disburse to the student’s account at the appropriate time, taking into account the Refund Schedule or 30-Day, First-Time Borrower Delay Schedule.

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.

Winter 2022

Section schedule type Refund checks available, beginning
15-week classes February 17, 2022
1st 8-week classes February 17, 2022
12-week classes March 3, 2022
2nd 8-week classes April 14, 2022

Summer 2022

Section schedule type Refund checks available, beginning
15-week classes June 16, 2022
1st 8-week classes June 16, 2022
12-week classes June 29, 2022
2nd 8-week classes August 4, 2022

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).