Financial aid (grants and student loans) will be credited to outstanding tuition and fees first. If you have been awarded more financial aid than outstanding tuition and fees, the difference will be disbursed to you as a financial aid refund. Your award letter will give you an estimate of how much aid you have been awarded each quarter.
After you have been awarded aid, here is how you may receive up your financial aid refund:
LWIT has partnered with Higher One, an institution that specializes in assisting colleges with financial aid disbursements. Students with a complete financial aid application will be mailed a debit card from HigherOne (please note that receipt of a debit card does not necessarily indicate that a student is eligible for financial aid or will receive a financial aid refund). Students expecting a financial aid refund will now have three choices to receive their refund; A checking account with Higher One-aid - refunds may be accessed through a debit card; Higher One can deposit your refund directly into your checking account with another bank (2 to 3 business days); or you may receive your aid refund as a paper check mailed directly to you from Higher One (5 to 7 business days). Visit our website at www.lwtech.edu/connectcard for more information.
- With the exception of summer quarter, aid is disbursed on or after the first day of the regular quarter. Aid cannot be disbursed earlier. First quarter loan disbursements for students who are first time borrowers and first-time students at the college must be delayed for 30 days after the quarter starts.
Students who drop from classes before or on the 5th business day of the quarter, but after aid has been disbursed, may owe a repayment from financial aid. The Financial Aid office cannot increase any grant aid awards for students adding classes after the 5th business day of the quarter.
Students with questions about their financial aid refund should visit the Financial Aid Office.
Students must attend classes to be eligible for financial aid. Students who do not attend a class, or withdraw early from classes, may owe a repayment to the aid program that was awarded.
Students that owe a financial aid repayment may not be eligible to receive additional financial aid from any college, and may be subject to collection activity from federal, state or institutional sources.