Disbursements and Refunds

As a CWI student, your student account is charged for tuition, fees and other costs each time you register for a class. Your student account tracks both charges (i.e. tuition and fees) and credits (i.e. payments and financial aid disbursements) and can be viewed in myCWI. Similar to a bank account statement, your student account keeps a record of all charges and credits (payments) each semester.  Financial aid is credited to your student account each semester to pay for your tuition, fees, and other charges.

Paying for Classes

Paying for Classes with Financial Aid

Once you've completed the financial aid application process for each academic year, you will receive an official financial aid award notification email.  Your award notification will instruct you to log-in to CWI's student portal - myCWI - to view the grants, scholarships, work, and loan options you can use to help pay for your tuition, fees, and other institutional charges.

How do I pay for my classes using my financial aid?

CWI will automatically credit the financial aid you've accepted online in myCWI to your student account to pay for your tuition, fees, and other charges at the appropriate time each semester.

IMPORTANT:  The entire financial aid process must be complete in order for your financial aid to be credited to your student account, including:

  • Applying for financial aid online at www.FAFSA.ed.gov using CWI’s federal school code (042118).
  • Completing all additional documentation requirements indicated in myCWI (such as submitting verification worksheets, when requested).
  • Receiving an award notification email (sent to your student email address).
  • Accepting your financial aid in myCWI and, if you are a loan borrower, completing an online entrance counseling session and a Master Promissory Note (MPN) at www.studentloans.gov

Be sure to apply and follow up on any eligibility requirements/documents/messages listed in myCWI prior to the Financial Aid Priority Date to ensure your financial aid will arrive on-time (See the CWI Academic Calendar).

When will my financial aid pay for my classes?

With few exceptions, financial aid you accept online will be “disbursed” – i.e. credited your student account to pay for your CWI charges (tuition, fees, bookstore charges) on the census date each semester (See the CWI Academic Calendar).

If your accepted financial aid exceeds your CWI charges, a refund will be issued soon after (See the "Financial Aid Refunds" tab on this page).

IMPORTANT NOTES FOR LOAN BORROWERS:

  • If you are a first-time loan borrower, your loan funds will not be disbursed until 30 days AFTER the first day of class in your first semester.
  • If you are only attending one semester during the academic year - Fall or Spring or Summer - 50% of your loan will be disbursed on the census date, 50% at the midpoint of the semester.

CWI plans to “disburse” (i.e. credit your student account and pay for your CWI charges.  Financial aid "refunds" are issued AFTER disbursements are made) financial aid funds you’ve accepted online in myCWI on the dates listed below, subject to change. (See the CWI Academic Calendar).

Fall 2013

September 9  -  Census Date - First possible financial aid disbursement* for Fall semester.

September 25  -  First possible disbursement* of loans for Fall first-time borrowers.

October 23  -  2nd disbursement* of Federal Student Loans for Fall-only borrowers.

Spring 2014

February 3  -  Census Date - First possible financial aid disbursement* for Spring semester.

February 19  -  First possible disbursement* of loans for Spring first-time borrowers.

March 19  -  2nd disbursement* of Federal Student Loans for Spring-only borrowers.

Summer 2014

June 6  -  Census Date - First possible financial aid disbursement* for Summer semester.

July 2  -  First possible disbursement* of loans for Summer first-time borrowers.

July 2  -  2nd disbursement* of Federal Student Loans for Summer-only borrowers.

Fall 2014

September 8  -  Census Date - First possible financial aid disbursement* for Fall semester.

September 24  -  First possible disbursement* of loans for Fall first-time borrowers.

October 22  -  2nd disbursement* of Federal Student Loans for Fall-only borrowers.

Spring 2015

February 2  -  Census Date - First possible financial aid disbursement* for Spring semester.

February 18  -  First possible disbursement* of loans for Spring first-time borrowers.

March 18  -  2nd disbursement* of Federal Student Loans for Spring-only borrowers.

Summer 2015

June 5  -  Census Date - First possible financial aid disbursement* for Summer semester.

July 1  -  First possible disbursement* of loans for Summer first-time borrowers.

July 1  -  2nd disbursement* of Federal Student Loans for Summer-only borrowers.

* Financial aid "disbursement" refers to the process of crediting your student account with your financial aid to pay for your tuition, fees, and other CWI charges.  Once your disbursement has been made, CWI will then determine if you are owed a financial aid "refund" (See the "Financial Aid Refunds" tab on this page).  Depending on the refund method you select, you will receive a financial aid refund one to ten days AFTER your aid has paid for your CWI charges.

If I didn’t apply, complete my required documentation, or accept my award by the financial aid priority date when can I expect my financial aid disbursement/refund?

If you apply for aid or complete your required financial aid documentation after the Financial Aid Priority Date (See the CWI Academic Calendar), you should expect your disbursement/refund to occur AFTER the first scheduled disbursement/refund dates each semester. 

Once the first scheduled disbursement/refund dates have passed each semester, financial aid funds are credited to student accounts each week on Mondays and Wednesdays, excluding federal holidays and college closures. 

Refunds, are also issued twice weekly on Tuesdays and Thursdays, following financial aid disbursements, excluding holidays and college closures.

Viewing Your Charges, Financial Aid, and Potential Refund in myCWI

Once logged into myCWI, go to My Toolkit > Student Account Information > View Account and Make Payments. Click on “Account Activity” and select a term at the top. Expand the “Financial Aid” section (see example below);

  • aid that is ready to be disbursed, but not yet credited to your student account is listed in the “Anticipated” column. 
    If you have anticipated aid that is sufficient to pay all of your charges, you do not need to make other payment arrangements.
  • aid that has been credited to your student account to pay for your charges is listed in the “Disbursed” column.
  • aid that needs your review is listed as "Pending" in the "Comment" column.
  • your anticipated credit balance (refund, when applicable) is also calculated and displayed for the semester.

student_account_example.gif

IMPORTANT:  Initial financial aid offers for all students at CWI are made based on full-time (12+ credit) enrollment each semester.  If you plan to enroll part-time, your financial aid will be pro-rated according to the actual number of credits you are enrolled in as of the published census date each semester.  The example above shows typical information for an in-district student who is enrolled in 12 credits and has full-time financial aid awards.

Please also refer to the CWI Financial Aid Terms & Conditions for more information about disbursements, refunds, and credit balances.

Cancelling Your Loan?

CWI encourages you to borrow wisely and avoid student loan debt whenever possible.  You have the right to cancel all or a portion of a student loan(s) at any time before disbursement or within 14 days of the disbursement date. If you choose to cancel your loan but you receive a refund, you must bring the funds to any One Stop Student Services center within 14 days of disbursement (see your student account statement) to have the loan funds credited back to your student account and returned to the lender.

Purchasing Books & Supplies

Purchasing your Books & Supplies with your Financial Aid

If your financial aid is more than your charges for a given semester and you have a potential refund available, you may purchase your books and required supplies using your financial aid during the published dates listed on the CWI Bookstore web page.  When purchasing your books with financial aid, you simply need to indicate so when checking out in person at the register or select "financial aid" as your payment type online.  The charges for your books and required supplies will be added to your student account and paid for when your financial aid is disbursed (See the "Paying for Classes" tab on this page.)

Financial aid book charging is only available for a limited time each semester - approximately 10 days prior to the start of classes, through the end of the first week of classes - at the Micron Center for Professional Technical Education location (Nampa Campus) and in the CWI Online Bookstore.

IMPORTANT NOTE:  Be sure to bring a copy of your current semester class schedule and photo ID with you to charge your books in-person at the CWI Bookstore.

Need More Information?

Please contact the CWI Bookstore Staff at bookstore@cwidaho.cc or by phone at 208-562-2401

Financial Aid Refunds

Receiving a Financial Aid Refund

Once your financial aid funds have been credited to your student account, your financial aid will first be used pay your current tuition, fees, and bookstore charges (if applicable). If your financial aid exceeds your total current charges, your student account will show a credit balance and CWI will refund the remaining amount to you.

My financial aid is more than my CWI charges – when will I receive a refund?

Once your financial aid has paid for your tuition, fees, bookstore charges, etc., any remaining financial aid will be refunded to you according to the refund preference you select - direct deposit (ACH), debit card, or paper check.   Depending on the refund method you select, you will receive a financial aid refund one to ten days AFTER your aid has paid for your CWI charges.

PLEASE NOTE:  While the U.S. Department of Education requires that your refund be available to you within 14 days of the date it was disbursed to your student account, CWI issues refunds as soon as possible after disbursement. 

Why does it take so long after the semester starts to receive a refund?

In order to maximize the flexibility of your class schedule, CWI allows all students to add, drop, or adjust your classes without being responsible for the associated charges through the census date each semester.  At the same time, federal financial aid rules require CWI to confirm that you are attending/participating in your classes before disbursing your aid to pay for your CWI charges.  In order to avoid disbursing aid to you incorrectly, CWI waits to disburse your aid until your final enrollment/charges for the semester can be confirmed on the census date and then issues refunds as quickly as possible thereafter.

How will I receive a refund?

Changes Coming May 19th!

CWI is moving to a new refund partner, US Bank.  Beginning May 19th, you can choose from one of three ways to receive a refund:

  • direct deposit into your personal checking or savings account
  • deposit to a prepaid debit MasterCard issued by US Bank
  • paper check (default option)

More information about how to select your refund option with US Bank will be announced shortly.  Please watch your myCWI and your CWI email for an announcement and instructions for selecting your refund option.

If I didn’t apply, complete my required documentation, or accept my award by the financial aid priority date when can I expect my financial aid disbursement/refund?

If you apply for aid or complete your required financial aid documentation after the Financial Aid Priority Date (See the CWI Academic Calendar), you should expect your disbursement/refund to occur AFTER the first scheduled disbursement/refund dates each semester. 

Once the first scheduled disbursement/refund dates have passed each semester, financial aid funds are credited to student accounts each week on Mondays and Wednesdays, excluding federal holidays and college closures. 

Refunds, are also issued twice weekly on Tuesdays and Thursdays, following financial aid disbursements, excluding holidays and college closures.

Cancelling Your Loan?

CWI encourages you to borrow wisely and avoid student loan debt whenever possible.  You have the right to cancel all or a portion of a student loan(s) at any time before disbursement or within 14 days of the disbursement date. If you choose to cancel your loan but you receive a refund, you must bring the funds to any One Stop Student Services center within 14 days of disbursement (see your student account statement) to have the loan funds credited back to your student account and returned to the lender.