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 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, review the award information packet (PDF).

Award Information: The 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.

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.

Refunds

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). 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 will I receive my financial aid refund?

Central Piedmont uses BankMobile, a division of Customer Bank, to process financial aid refunds. You do not have to use a BankMobile product, but you must create an account and select the option you prefer to receive your funds. A Refund Selection Kit will be sent to you by email and mailed to the address on record with the college. The refund selection kit will arrive in a bright green envelope.

Refund Preferences

Once you receive the kit, go to BankMobile’s website to select your refund preference. If you do not select your refund preference, your funds may be delayed up to two weeks. Follow the instructions provided to set up your account and determine your refund preference:

  • Have the funds directly deposited into an existing bank account (2–3 business days)
  • Open a bank account with BankMobile and have your funds deposited into it (1–2 business days)

If you select to receive a BankMobile debit card, your card will be mailed to the primary address you have on file with Central Piedmont and you will receive a personal code to use in order to activate your BankMobile debit card account. You must activate your card account before an actual card is mailed to you. To learn more about the BankMobile debit card, visit the Central Piedmont debit card website, contact BankMobile at 1.866.782.0821, or visit the Central Piedmont Cashier's Office site.

How can I check the amount of my 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.

When Will I Get my 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. Refunds will be deposited into the account you designate by the end of the business day on the scheduled refund date. Refund dates are firm, and 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.

How will I know when my refund has been credited to my designated bank account or BankMobile Vibe checking account?

  • BankMobile will notify you via email when refunds are credited to the BankMobile debit cards (BankMobile Vibe).
  • BankMobile will notify you via a text alert when refunds are credited to the BankMobile debit cards (BankMobile Vibe) if you are subscribed for this service.
  • If you opted to have your refund deposited into an alternate designated bank account, ask your banking institution about how you will be notified of your deposit.

What happens to unclaimed financial aid funds?

The Financial Aid Office identifies, captures, reports, and remits all due unclaimed funds, where 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:

  • do not activate your BankMobile account
  • have never made a refund selection
  • 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.