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Disbursement Guide

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Eligibility, Awards & Disbursements

For Eligibility for Financial Aid at Davidson-Davie, it’s necessary to:

  • Be accepted at Davidson-Davie in a Title IV-eligible program which includes all Associate Degree programs (and a limited number of Diploma and Certificates).
  • Have earned a recognized HS diploma or High School Equivalency. (may be required for verification.)
  • Complete the FAFSA (listing Davidson-Davie) for the appropriate award year and submit any requested information to complete
    the review process by the priority dates posted below.

Summer 2022

Fall 2022

Spring 2023

Summer 2023

FAFSA: April 1FAFSA: June 1FAFSA: November 1FAFSA: April 1
Paperwork: April 15Paperwork: June 15Paperwork: November 15Paperwork: April 15

*Students completing the FAFSA process after the priority date should prepare to pay enrollment expenses to begin classes, however, if they are eligible for financial aid they may be awarded throughout the academic year.

  • Maintain Satisfactory Academic Progress for academic eligibility which requires that students:
    • Maintain a cumulative Grade Point Average (GPA) of 2.0 or higher
    • Successfully complete 67% (2/3rds) of the cumulative hours attempted
    • Complete the program within 150% of its required number of credit hours
    • Attempt no more than 30 hours of pre-curricular (developmental) coursework
  • Students may not receive financial aid at another college during the same time period.
  • Students may not exceed the six-year Pell lifetime use limit nor have completed a bachelor’s degree to have Pell eligibility. NC State grant funds also have time use limits.

Financial Aid Awards

  • Offer status notifications are sent via Davidson-Davie e-mail and Offer Letters viewed on StormTrac.
    • View the Financial Aid Offer Letter and the link for “Financial Aid by Year” to see the types of financial aid estimated and the terms funded.
    • Award amounts are ESTIMATES based on full-time enrollment. Actual amounts paid out depend upon the student’s enrollment level at the time of disbursement, institutional charges and remaining aid eligibility.
    • Student Loans are an available resource that requires careful consideration and budgeting since students must repay the borrowed money with interest.
  • Federal Financial Aid Offers are made for fall, spring and summer terms (as long as funds are available)
    • Students using Pell funds may be eligible for fall, spring and summer terms Students should notify Financial Aid of summer enrollment plans.
    • State Grants do not cover summer.
    • The following enrollment levels determine funding levels for financial aid for all terms.

Enrollment Level Requirements For 2022-2023 Financial Aid Awards

Full-Time PLUS   

15 (or more) credit hours

Required Only For PLUS level award of NC Community College Grant recipients


12 (or more) credit hours

Pell & NC Ed Lottery pay max award, but NC Comm. College Grant prorated to full-time award
3/4 Time9-11 credit hoursPell & State Grant awards are prorated down
1/2 Time**6-8 credit hoursPell & State Grant awards are prorated down & minimum enrollment level for loans & State Grants
Less Than Half-Time 1-5 credit hoursOnly Pell-eligible students with an EFC below 3,900

*Most Awards Require a minimum of 6 credit hours for payment eligibility. Scholarships Vary
Audits “AU”, Credit by Exam “CE”, Transfer Credits, No Shows “NS”, Dropped “D” classes, Deleted classes “X”, or 2nd repeats of previously passed and course not required for completion of the current programs are not included in enrollment hours for financial aid purposes.

Registering for classes and Charging (Holding) Tuition and Book Costs

  • Students in good standing with a completed offer letter will have class schedules HELD to secure their “seats” (prevent drops for non-payment) until financial aid funds are posted.
  • At the ten percent (10%) date (maybe different from the census date)of a student’s semester, the financial aid office will recalculate a student’s enrollment. If a student enrolls in a course after the recalculation date, financial aid will not be adjusted for the additional course.
  • Below are the dates for the full 16-week starts. Any newly registered students who did not enroll in the previous start date will be manually calculated with that starts 10% date.
Semester Start Register for ALL Classes by
May 25, 2022May 31, 2022
August 15, 2022August 26, 2022
January 9, 2023January 20, 2023
May 24, 2023May 31, 2023
  • They may also charge books and required supplies in the Davidson-Davie Bookstore on the dates below OR Order books online at the Davidson-Davie Bookstore with their student account info.

Dates to Charge at Davidson-Davie Bookstore

All purchases, pre-orders, or returns for credit to financial aid sources must be done within these dates each term.
Summer Term 2022May 15-27, 2022
Fall Semester 2022August 6-19, 2022
October 8-21, 2022
Spring Semester 2023January 1-13, 2023
March 4-17, 2023
Summer Term 2023May 17-26, 2023

Payment (Disbursement) Of Remaining Financial Aid Funds:

  • Disbursement of aid is made AFTER attendance is confirmed by each course instructor.
    • Classes with start dates past the first week of the semester will impact reporting times and enrollment calculations for financial aid eligibility.
    • Attendance reports are reviewed monthly for enrollment level changes and any increases will be disbursed in the following month’s disbursement.
  • When funds are posted to the student account; tuition, fees and bookstore charges are paid first.
    • If costs exceed the awarded aid, the student is responsible for the remaining balance.
  • After charges are paid, the remaining funds are issued to students based on the selected payment preference. Students set up a preferred payment method when they begin enrollment at Davidson-Davie.
    • Students will be contacted by the Business Office and Heartland ECSI to select a preferred payment option for refunds from the College. Students may use their own bank account for direct deposit, create an account for quick access to funds or have a check that is issued and sent by postal mail.

Financial Aid Disbursement and Refund Schedule

Disbursement dates indicate the date a student’s financial aid funds are applied towards their college charges. Refund dates indicate the date any financial refunds due to students are issued by Heartland ECSI. Disbursements are made based on class start dates, attendance, enrollment level, and type of financial aid.
Summer 2022
Disbursement DateRefund Date
June 2, 2022June 13, 2022First disbursement of Summer
July 6, 2022July 15, 2022Disbursement of loans for Direct Loan borrowers enrolled in Summer
Fall 2022
Disbursement DateRefund Date
September 1, 2022September 13, 2022First Disbursement of Fall II & Fall 16-week courses
September 15, 2022September 26, 2022Disbursement of loans for first-time Federal Direct Loan borrowers enrolled in Fall I & 16-week courses*
October 4, 2022October 14, 2022
November 1, 2022November 14, 2022First Disbursement of Fall II
November 9, 2022November 18, 2022
December 1, 2022December 12, 2022Disbursement of loans for first-time Direct Loan borrowers enrolled in Fall II*
Spring 2023
Disbursement DateRefund Date
February 1, 2023February 13, 2023First Disbursement of Spring I & Spring 16-week courses
February 15, 2023February 24, 2023Disbursement of loans for first-time Federal Direct Loan borrowers enrolled in Spring I & Spring 1-week courses*
March 1, 2023March 10, 2023
April 4, 2023April 17, 2023
April 14, 2023April 24, 2023Disbursement of loans for first-time Federal Direct Loan borrowers enrolled in Spring II*
May 2, 2023May 11, 2023
May 11, 2023May 22, 2023
Summer 2023
Disbursement DateRefund Date
June 1, 2023June 12, 2023First disbursement of Summer
July 6, 2023July 17, 2023Disbursement of loans for first-time Direct Loan borrowers enrolled in Summer
*Borrowers must be enrolled at least half-time (6 credit hours) for the current session

Return of Unearned Financial Aid Funds Policy for Students

  • Students must attend/participate in classes to earn financial aid funds.
  • Students withdrawing from a term will be reviewed for the possible return of unearned financial aid.
  • Davidson-Davie calculates the portion of aid that was earned. If it is determined the student did not attend past the 60% date of the enrollment period, the unearned portion must be returned.
  • Students are notified by Davidson-Davie e-mail of the required return and may view billing information on StormTrac. Payment must be made within 45 days of notification.
  • Failure to repay unearned financial aid or to resolve resulting debts at Davidson-Davie may prevent further financial aid, re-enrollment at Davidson-Davie, the ability to receive transcripts and possible transfer of billing to a collections agency and/or the US Dept. of Education.