Post-Withdrawal Disbursements
If it is determined the student is due a post-withdrawal disbursement of Title IV funds because the student was fully eligible to receive funds that had not yet been disbursed, Central will disburse all grant funds to the student account within 45 days. Grant funds will always disburse first to the student account if the student has a balance. Any grant funds the student is eligible to receive that are above the amount due on the student’s account will be disbursed to the student NO later than 45 days after the school determines the student withdrew. Post-withdrawal disbursements of loan funds will be OFFERED to the student via email and paper letter within 30 days of determining the student withdrew. The student will have 14 days to accept or decline loan funds (as they do have to be repaid per the master promissory note agreement). If a student accepts a post-withdrawal disbursement of loan funds, they will again be applied to any balance on the student account first and then refunded to the student with a check payment. All refunds on student accounts are released within 14 days of the credit occurring.