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All Summer loans are single term and will be posted in two installments.

10 Week Classes

Refundable aid (Pell and the 1st loan installments) will begin posting to student accounts on Sunday, June 5 for students with at least one 10 week class. Refunds may begin to post in the nightly processes on Monday, June 6.

8 Week Classes

Refundable aid (Pell and the 1st loan installments) will begin posting to student accounts on Sunday, June 19 for students taking just 8 week classes. Refunds may begin to post in the nightly processes on Monday, June 20

IMPORTANT:

  • For Summer students, the day your aid posts depends on the day (Monday, Tuesday, Wednesday, etc.) of your first class, so not all of your aid will post on June 12 or 19. Each student's situation is different based on numerous factors, therefore not every student’s financial aid will be posted at the same time.
  • Loan funds for first-year, first-time loan borrowers cannot be posted to the Student Account until 30 days after your the student's course(s) have begun (this applies to loans only, not other types of aid such as Pell grants and scholarships). The term "first-year, first-time borrower" applies to students who have never had a student loan at Ivy Tech or any college/university, and have either earned less than 30 credit hours or are enrolled in a technical certificate (TC) or certificate of training (CT) degree.

Here is a summary of the refund process:

Step 1: Prior to the refund disbursement date, estimated financial aid appears on the My Account page in Campus Connect (see screenshot below). To get to this screen log in to Campus Connect and click on View Account Balance under the My Ivy Tech section.


Step 2: After the financial aid refund post date, you will know that your aid has posted when your account looks like one of the following two screenshots.

Screenshot #1: All of your aid has been posted. The negative amount due is the amount you will receive back as a refund within 14 days.

Screenshot #2: Partial aid has posted. The negative amount due on line one (Amount Due) is the amount you will receive back as a refund within 14 days. Remaining financial aid should be released at a later date.

It is possible that only a portion of your aid will post to your account, leaving a balance in your Estimated Financial Aid. Reasons for partial aid disbursements include:

  1. A 30-day delay in your loan for first-time, first-year loan borrowers
  2. A single-term loan  (Fall only or Spring only) which requires the 2nd installment after mid-point of the student’s enrollment period
  3. An incomplete requirement needed to fully disburse the remaining estimated aid.  (Check Campus Connect Requirements link under the Financial Aid section of My Ivy Tech)
  4. A recent enrollment change which may require an aid adjustment.  Enrollment changes are routinely reviewed and adjusted as needed by your Financial Aid Office.  Continue to monitor your Campus Connect My Account page using the View Account Balance link. 


Step 3: Your amount due goes from a negative number to a zero balance (not including any remaining estimated aid) and you see the word "Refund" on the View Account Activity page (as shown below in the red section). We "zero out" students in a computer process late at night, every weeknight, until all refunds are processed. After you zero out, it takes 2 business days to transfer the money to BankMobile. The transfer of funds usually occurs around noon on that 2nd business day.


Step 4: If you selected the BankMobile Vibe account as your refund preference, you will receive your money on the same business day the funds are wired by Ivy Tech Community College to BankMobile. If you selected direct deposit to your bank, you will receive your money in 2-3 business days after the wiring of funds to BankMobile.

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For information about refunds, please visit the BankMobile page.