Disbursement funds come from your accepted financial aid grants or loans.
Those funds get transferred into your Madison College account to cover the costs of tuition, fees, and books (if you charged them during the Book Charge process).
If you want to use financial aid funds to pay for past due tuition or fees, you must grant student permissions, which you can do through your myMadisonCollege account and by meeting the requirements below.
Before funds can be disbursed to Madison College, you will need to meet the requirements for those funds to transfer and process.
- You must be admitted into a financial aid eligible program of study.
- You must meet funding-specific enrollment status requirements.
- For most type of aid, you must be enrolled at least half-time.
- You must meet all Satisfactory Academic Progress (SAP) standards.
- You cannot have any outstanding To Do List items in myMadisonCollege.
- You must have received your Financial Aid Offer Notification in your student email and accepted all funds you wish to receive.
- You must have completed Entrance Counseling, the Master Promissory Note and the Annual Student Loan Acknowledgement at studentaid.gov if you are receiving a Federal Direct Loan.
Keep in mind of certain types of financial aid that may have specific and more requirements.
How to Grant Student Permissions
After meeting all the requirements, you will need to grant Title IV Permission to authorize Madison College to apply financial aid funds you received toward payment of any charges billed by Madison College. In addition, it authorizes Madison College to pay prior year charges of no more than $200 with Title IV funds.
- Log into myMadisonCollege.
- In the Financials dropdown menu on the left, select “Student Permissions”
- Click on the "Grant Permissions" button.
- Select the permission form (e.g. FA_BKCHRGE, TITLE_IV)
- Click "Next" to continue.
- Read the Permission Form Agreement carefully, and check the "Yes, I have read the agreement box".
- Click Submit to complete the process and grant student permissions.
- For assistance with student permissions, contact the Enrollment Center at firstname.lastname@example.org or 608.246.6210.
How to See When Funds Will Be Disbursed
After meeting all the requirements and granting student permissions, the first disbursement of your financial aid begins after the Pell Recalculation Date. After the first disbursement, available financial aid funds are disbursed on a weekly basis.
You can see your estimated disbursement date by logging into myMadisonCollege and the following steps:
- Log into your myMadisonCollege account.
- Under the Finances heading, go to View Financial Aid.
- Choose the appropriate Aid Year (e.g. 2021 for the 2020-21 academic year).
- Under the appropriate term, view Scheduled/Expected Disbursement Dates.
- The Scheduled Disbursement Date will list the anticipated disbursement date for the accepted awards.
- Students in the following situations may have disbursement dates that may come later due to Federal regulations:
- If you have classes that do not begin prior to the Pell Recalculation Date, funds will begin disbursing on the next scheduled disbursement date after your classes have begun.
- If you are a first-time Federal Direct Loan borrower, your first loan disbursement cannot be released until 30 days after your classes begin.
- If your Federal Direct Loan is awarded for a single semester, your loan will disburse in two payments. The second payment will occur at the mid-point of the semester.