How are Awards Disbursed?

Eligible financial aid recipients may register for classes and defer tuition and fees against the scholarship or grant amount indicated on the financial aid award on the portal 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, enrollment verification has been completed, and the census date has passed each semester. If, after receiving a refund, a student's class is canceled 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.

Each registered student will be sent a Refund Selection Kit in the mail at the current address on file with the College 7-10 business days after the first registration for college credit or clock hour courses. This will allow you to select a refund preference. Daytona State College has partnered with BankMobile, and all refunds are disbursed by BankMobile. For more information on the DSC BankMobile disbursements, go to https://www.daytonastate.edu/payments/disbursements-refunds.html. 

Refunds are applicable to scholarships, grants, Federal Direct Loans, and Federal Direct 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 Work-Study award cannot be used to charge fees.

Federal Direct Loans and Federal Direct Parent PLUS Loans are disbursed electronically 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 can be completed online at Studentloans.gov.

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.

A student's eligibility for financial aid is partially based on enrollment status as well as the start date of classes. Students should be aware that certain courses may have staggered or irregular start dates that are not the same as the beginning of the standard semester. Students enrolled in these courses are not eligible to receive financial aid funds until the classes are in progress and enrollment can be verified. [NOTE: Students in vocational credit (clock hour) programs are not eligible for the second disbursement of financial aid until the student has successfully completed the required weeks of attendance and clock hours.]