Once you’ve been sent your financial aid award letter, here’s what happens before you receive your money:
- You will need to
log in to eConnect and accept your award(s). Please be sure to read the terms of your awards and learn about the requirements you must meet to maintain eligibility. These requirements are called
Satisfactory Academic Progress standards.
- If you haven’t done so already, you will also need to
verify your address in eConnect (login required) so you can choose the method you prefer to receive any refund you may be owed through the
- Next, your award funds are credited to your account, usually 10 days before your first class day for a term. Any tuition you still owe to the college is deducted from these funds.
- Your college then verifies the accuracy of award amounts credited to your account. This verification includes confirming your enrollment level and your eligibility to receive payment. Under federal regulations, Dallas College has up to 14 business days to complete this part of the process.
- Once verification takes place and your eligibility is confirmed, your funds are released and distributed to you through eRefunds.
These steps, such as verification of enrollment with your professors,
must be completed before you receive your remaining financial aid money.
In addition, if your award(s) include Pell, SEOG or federal loans, your eligibility
must be confirmed with the Department of Education before your remaining funds can be released. This process usually takes just 24 to 48 hours and can only be done
after your award(s) have been credited to your account.
While it may seem like financial aid is taking longer than it should, your funds will be released before the federally mandated deadlines pass.
What Can You Do to Get Your Money Earlier Next Semester?
The easiest way to ensure your funds are processed as quickly as possible is to stay on top of your paperwork.
- Submit your FAFSA as soon as possible — you can apply for financial aid as early as the October before the fall semester you plan to enroll (for example, the 2019-2020 application was made available in October 2018).
- Respond as soon as you get forms requiring input. If you get a request for more information, or a signature, send in your response as soon as possible.
- Financial aid isn’t a race, but the sooner you fill out your paperwork and submit it, the better your chances of receiving money. Colleges are only given a certain amount of money every year to distribute to students, and if your paperwork is submitted early, you have a much better chance of being fully funded.