Financial Aid Awards and Refunds

Your financial aid package should be completed before you need to register for courses or pay for tuition and fees. If you do not pay tuition and fees by the designated due dates, your registration will be cancelled. While enrolled at Central Piedmont, use MyCollege (student login required) to view an interactive checklist to help you navigate the financial aid process. To determine eligibility criteria for all awards and important financial aid information, email Financial Aid. 

Award Information: Your Award Letter

For financial aid purposes, if all your documents show “Received” or “Waived” for the current school year, your file is complete and our staff is working on awarding your financial aid. Once your file is complete, you will receive an email and will be able to view your financial aid award letter in MyCollege (student login required).

The financial aid award that is offered by Central Piedmont is your total financial aid offer. You may choose to accept all the financial aid offered, or you may choose to accept only certain individual financial aid components, such as alternative loans, federal work-study, or other grants. If you decline one component, you will not be offered additional aid to make up for that declined aid.

The award letter is based on full-time enrollment for an entire year. You must report any any changes in your enrollment status to the Financial Aid Office.

  • Full-time status (100%) means enrollment for a minimum of 12 credit hours.
  • Three-quarter time status (75%) means enrollment for 9 to 11 credit hours.
  • Half-time status (50%) means enrollment for 6 to 8 credit hours.
  • Less than half-time status consists of enrollment in 1 to 5 credit hours.

Award Changes

All financial aid awards are subject to change if the information on which they were based changes, if federal regulations require a change, or an over-award occurs. If you receive any resources at any time during the award year – such as outside scholarships and employer reimbursements – that were not considered in calculating your eligibility for aid, and these resources combined with your expected financial aid will exceed your need, the amount in excess of your need is considered an over-award. You must notify Central Piedmont of any additional assistance that you receive after your financial aid need is calculated. The Financial Aid Office reserves the right to adjust a financial aid package in the event of an over-award.

The Financial Aid Office voids any award if it is determined that you provided incorrect or false information on the financial aid application.

Central Piedmont Financial Aid Office adjusts awards throughout the drop/add period. After the drop/add period, no awards are adjusted unless a "never attended" or a "complete withdrawal" is received from the instructor before the start date.


An overaward exists when your aid package exceeds the total cost of your need. Federal regulations require that the amount of your financial aid cannot exceed your eligibility. Financial aid recipients are obligated to notify the Financial Aid Office of any outside financial assistance awarded from an external source. If your eligibility is already being fully met, the outside award requires an adjustment in the assistance you have been (or would be) offered. If your eligibility has not been met, a change to your award may not be necessary.

Some examples include:

  • We offer aid to you when you are ineligible for a specific program or you are ineligible for any Federal Student Aid program assistance.
  • Your aid package exceeds your need; including when your Expected Family Contribution (EFC) is revised upward after you receive your initial award 
  • Your financial aid exceeds your cost of attendance (COA).
  • You are receiving a Federal Pell Grant, or an Iraq and Afghanistan Service Grant at multiple schools for the same period.

While we take care not to overaward you when packaging your aid, circumstances may change your aid package that result in an overaward. For instance, you may receive a scholarship or grant from an outside organization or your EFC has increased as a result of verification.

Payment of Your Financial Aid Award

Financial aid awards are generally paid to your account 30 to 40 business days into each semester for courses that have met at least one time.

If there are any funds remaining from your financial aid award after tuition, fees, and book charges are paid, the remaining balance — often called a “credit balance” —  will be paid to you on your BankMobile/Vibe debit card or a wire transfer to your personal checking/savings account. 


After your financial aid has disbursed to your student account, tuition, fees, and book charges will be deducted. Then, any balance that remains in your account will be refunded to you. Your financial aid refund is the dollar amount of your remaining financial aid after school expenses for the current academic year are deducted.
Tuition, fees, and bookstore charges are examples of school expenses. Some types of financial aid may not qualify for a refund (such as various scholarships or sponsorships). Awards transmitted to a student’s account are transmitted in the following priority:

  • Scholarships (usually covers tuition and books only)
  • Federal Grants
  • State Grants

Class attendance impacts eligibility for refunds. To maintain eligibility for awarded aid, you earn federal and state aid by attending class at least through the 60% point of the enrollment period. Failure to remain enrolled and attend classes as required may result in the reversal of awarded aid. You are responsible for repaying refunds for aid that was not earned by attending through the 60% point of the enrollment period.

How You Will Receive Your Financial Aid Refund

Central Piedmont uses BankMobile Disbursements, a technology solution powered by BMTX, Inc., to deliver your financial aid refunds. Learn more about BankMobile Disbursements refund options.

Check the Amount of a Scheduled Refund

You can check the amount of your refund on MyCollege. The amounts shown in your award letter are based on full-time enrollment (12 credits per term). If you are enrolled for fewer than 12 credits when your funds are disbursed, your award amounts might have been adjusted. If you have questions about your award amounts, contact the Financial Aid Office.

If the Business Office has sent you a refund by check because your BankMobile card was not set up, it is up to you to ensure that those funds are cashed to your bank account in a timely manner. If the check is misplaced or an incorrect address on file causes it to be sent back to the Business Office, you must contact them to re-issue it.

There is no guarantee that unclaimed checks can be re-issued after 90 days. Unclaimed funds reported to Financial Aid by the Business Office may be canceled with no guarantee of being re-awarded due to Federal and State spending deadlines.

When You Will Get Your Refund

Remaining financial aid funds, after tuition/fees and books, will be disbursed to you on scheduled refund disbursement dates. Financial aid will be credited to your Central Piedmont student account based on the start date of each course. The actual date that you receive your refund is based on the refund preference you selected.

Scheduled refund dates are subject to adjustment if technical problems, system issues, or other unplanned challenges occur. Refund dates are firm. Refunds will not be issued earlier than the scheduled dates.

If you have been identified as "Never Attended" or given a "Last Date of Attendance" by a course's instructor, you may not be eligible for some or all aid for that course, even if the course has ended.

What Happens if You Do Not Claim Your Financial Aid Funds

The Financial Aid office identifies, captures, reports, and remits all due unclaimed funds when we have been unsuccessful in locating you, and ensures compliance with the laws of the State of North Carolina and the Department of Education (federal laws). If you:

  • have never selected a refund preference with BankMobile Disbursements
  • have not cashed a refund check

your financial aid funds will be voided and returned to the appropriate agency (such as North Carolina Department of State or the federal Department of Education) within 90 days. If your voided funds are North Carolina grants, these funds, by law, will be turned over to the Department of State Treasurer (escheated). You can check the State Treasurer’s website to claim these funds. Funds can be reissued only before August 1 for the prior fiscal year award (July 1 to June 30). Funds from prior award years cannot be reissued.

It is important that you keep your addresses, telephone numbers, and email addresses on file with the college updated. You can make changes to your personal information online in MyCollege or in person at a Records and Registration office at any campus location.