New disbursement rules for financial aid
Beginning Spring 2015, RCTC is required to release student loans in two disbursements due to our slowly increasing Student Loan Default Rate (currently 14.7%).
Students who are borrowing loan funding ONLY for Spring Semester will have their loan(s) released in TWO payments.
- First half of loans will be released within the first 30 days of the term, around Feb. 13
- Second half of loans will be released on or about March 13th
- Any grant money will be released on Jan. 26
Students who received financial aid for fall semester aren’t affected because the fall semester disbursement counts as one disbursement, and the spring semester Jan. 26 disbursement counts as the second.
Financial Aid has been doing their best to notify all students affected but acknowledge that some students will still be caught off-guard when their loans aren’t disbursed on Friday.
If you have any questions about your disbursement, you can refer to your Disclosure Statement you received from the Department of Education or contact the Financial Aid Office:
1-800-247-1296 Ext. 7271