Disbursement of Financial Aid Funds

Financial aid and scholarship funding is awarded by the Financial Aid Office and disbursed by Student Accounts.

If financial aid exceeds the amount of charges, residual funds are due to the student and can be processed by paper check or by direct deposit to the student’s bank account. The aid disbursement before the term begins is limited to $2500 for fall/spring semesters.  Remaining residual funds will be released after enrollment has been confirmed. Residual funds are not released prior to the first day of summer sessions.

Financial aid may post to a student account before the semester begins if the student is:
  1. fully-admitted
  2. has turned in their award letter and any other required documents and
  3. are enrolled in the appropriate number of credits two weeks before the fall or spring semester begins.
They must also submit Intent to Attend by the deadline date. If not, students who attend all the classes that their aid is based on may have aid posted during the first week of the semester. If a balance is still owed, it must be paid or have a signed payment plan contract with down payment made by the fee payment deadline to avoid late fees.
 
Financial aid recipients should check their student account and LCMail often. Check before and after day 5, and day 10, to confirm financial aid awards have not been reduced or cancelled due to lack of enrollment confirmation. If your aid isn't posted and your fees are not paid you may incur late fees. It is the student's responsibility to confirm fees are paid. This includes monitoring the Grades/Enrollment Confirmation link on WarriorWeb. This link shows which faculty have reported enrollment confirmation allowing aid to be disbursed. 
 
Please check your Student Account Statement on WarriorWeb to see if your aid has disbursed. Students who have aid that exceed charges will have residual funds processed weekly.

Students who advance registered for the semester must confirm their plans have not changed and that they still plan to attend the upcoming semester. Students who are signed up for electronic refunds at least 2 weeks before the term begins have the option to receive their first disbursement (before the semester begins) by direct deposit. By confirming the intent to attend 3-6 weeks before the semester begins, residual funds will be processed by direct deposit to the bank account that has been submitted on WarriorWeb. This step is in addition to having all aid in place, documents submitted, and registered for the appropriate number of credits.
 
Confirming your intent to attend also gives the Financial Aid Office the opportunity to revise your financial aid awards to your intended enrollment level if a change is needed. The Registrar's Office also wants to know if your plans have changed. If something has changed with your plans, and you won't be able to attend any or all of your classes, please update your schedule and drop the classes that you will no longer be able to attend. This may open up seats in full sections and offer opportunities for other students to enroll. Someone else's schedule change may open up a new opportunity for you! 
 
Fall 2023 submission period is July 10, 2023 (noon) to August 9, 2023 (5 pm). The deadline to submit Intent to Attend is August 9, 2023.

Direct Deposit
 
Residual funds can be direct deposited into your bank account. No more standing in line to get a residual check. Direct deposit refunds are generally processed sooner than paper checks. Signing up for direct deposit is quick and easy.
  • Log into your WarriorWeb account and click on the Banking Information button.
  • Select Add an Account – only United States banks can be used, foreign banks are not an option for direct deposit. 
  • Click on Activate and Next
  • Enter your bank routing number, your bank account number, and what type of account.
  • Read the terms and conditions, then check Agree and check the submit button.
  • You will receive an onscreen and an emailed confirmation.
We encourage distance learning students to sign up for direct deposit to streamline and expedite the release of residual funds.
 
Students who are eligible to receive residual funds by direct deposit before the semester begins should have funds in their bank as soon as the Thursday before school starts. Please remember that the residual disbursement before the term begins is limited to $2500. 
 
Paper Residual Check Release
 
Students who have NOT signed up for direct deposit (or did not submit Intent to Attend) will have a paper residual check prepared. Students must present photo identification to get information about their student account or to pick up checks. 
 
Residual (paper) checks will be released the Friday before classes start from Student Accounts. Please remember that the residual disbursement before the term begins is limited to $2500. 
 
Students attending in Coeur d’Alene can have their checks mailed to the Coeur d’Alene Outreach Office. Checks will be available to pick up in the LC-CDA Business Office at 1031 N Academic Way, Coeur d'Alene, ID, 208-666-6707, anytime between 8:00 a.m. and 5:00 p.m.
 
Federal regulations require documentation that you participate in each class to be eligible for your financial aid. Aid that is disbursed before the term begins can be reduced or reversed if this documentation is missing. Reduced aid may leave an unpaid balance that must be repaid immediately. Late fees apply if a balance is left unpaid, or aid is not promptly reinstated. It is the student's responsibility to check the Grades/Enrollment Confirmation link on Warrior Web to confirm eligibility. 

Students usually receive the whole semester’s financial aid funds early in the term, sometimes before the term begins. It’s kind of like an advance on a paycheck. Once an aid recipient has attended 60% of the term the federal aid is ‘fully earned’. Students who receive federal aid and do not complete 60% of the semester must repay a portion of the ‘unearned’ aid immediately. The earlier a student withdraws, the less aid they earn. Students who do not withdraw and do not pass any classes (receive all “F” grades) are also required to repay some of their financial aid. Please contact Student Accounts and/or the Financial Aid Office before you make a decision to withdraw or if you have any questions. 

International students are subject to tax on non-qualified scholarships and/or waivers. 
 
Scholarships and/or waivers that pay housing, meals, or exceed tuition and fees are subject to tax. Gift cards, prizes and other funding is also taxable, usually at 30%. Documentation provided by the student can reduce withholding tax from 14% to 0% depending on treaties and the student's unique situation.
 
Scholarships that apply directly to tuition and fees are not subject to tax. This includes non-resident tuition waivers. 
 
Student Accounts staff will email international students to obtain information to determine tax liability. This handout provides some examples that may be helpful.