Refunds for all types of financial aid will begin after the add/drop date.
- You will receive loan funds in two disbursements each award year.
- First disbursement will occur approximately 30 days after the beginning of the semester.
- If tuition, fees and bookstore charges are greater than the first disbursement, the student will not receive a refund until the second disbursement of financial aid is received.
- Second disbursement will be made after add/drop of the next semester.
- Because all financial aid funds will not be released until several weeks into the semester, you will need to plan ahead for non-educational expenses such as rent, transportation and child care.
- You must be attending classes and continue to meet all eligibility requirements to receive a disbursement.
- When refunds are available, they are sent by Electronic Fund Transfer (or check).
- Refunds cannot be released to students until financial aid funds are received by the college.
- Some or all of the first payment may be needed to pay remaining charges.
Financial aid terms and conditions, *including terms applicable to employment provided as part of a financial aid package, as well as the terms and conditions of federal student loans.
Information on need-based and non-need-based federal, state, local, private and institutional financial assistance programs available to students.
Penalties for drug and alcohol abuse violations.
Current retention rates for Pell Grant recipients can be found on the College Navigator.
Procedures for applying for aid.
Rights and responsibilities of students receiving Title IV.
Student Financial Aid Information and Related Policies
Notice of Availability of Financial Aid: Contact Information for Assistance in Obtaining Institutional or Financial Aid is available in the Financial Aid portion of the college website.
Assistance Available from Federal, State, Local and Institutional Programs: Information regarding the various types of financial assistance available to VBC students may be found on the Financial Aid portion of our website. In addition, information is published in the college catalog.
Terms and Conditions of Accepting Financial Aid Award: Terms and conditions of accepting financial aid awards are set forth in the college catalog. Financial aid terms and conditions, including terms applicable to employment provided as part of a financial aid package, as well as the terms and conditions of federal student loans can be found by going to https://studentaid.ed.gov/
Penalties for drug and alcohol abuse violations is laid out within our Awareness Programs
Academic Progress and Financial Aid Eligibility: VBC policies regarding academic progress and financial aid eligibility are set forth in the college catalog. In addition, the VBC academic progress policy is available on the college website.
Entrance Counseling for Student Borrowers: Before receiving a student loan, borrowers must complete an entrance counseling session online using the VFAO interview, which will provide useful tips and tools to help borrowers develop a budget for managing their educational expenses and help them understand their loan responsibilities. Students seeking a Title IV or HEA loan will have their information submitted to the National Student Loan Data System (NSLDS), which will make it available to guaranty agencies, lenders, and schools determined to authorized users of the data system. More information on the NSLDS can be found on their website.
Exit Counseling for Student Borrowers: Prior to graduating or leaving school, loan borrowers must complete exit counseling. Exit Counseling program must be completed at www.studentloans.gov and it explains borrowers rights and responsibilities as loan borrowers.
Awarding Funds and Verification
Funds are awarded by completing a FAFSA and VFAO interview through our third-party administrator, Weber and Associates. Weber and Associates packages student awards and handles the verification process.