Issue link: http://howardcc.uberflip.com/i/542144
114 that institution. Students who are interested in participating in the Mt. Airy consortium arrangement should contact both HCC and the other institution well in advance of the planned semester. HCC will cancel all aid for any students who are found to be receiving financial aid concurrently at HCC and another institution, unless an approved consortium agreement is on file. BOOKSTORE FUNDS Federal regulations require institutions to provide Pell eligible students with a method to purchase needed books and supplies by the seventh day of the payment period (semester). HCC makes funds available in the bookstore to all students with a completed financial file and who have been awarded financial aid in excess of tuition and fees two weeks before the semester start date through the semester census date. Bookstore purchases are limited to $1000 per semester or the amount of the excess aid, whichever is lower. Purchases are limited to required or optional books and supplies for registered coursework and bus passes. When a student uses financial aid funds to purchase books and supplies, the charges will appear on the student's HCC account. Students can check myHCC to determine their excess funds. Students who do not use their excess financial aid funds to purchase books and supplies in the HCC Bookstore are considered to have opted out and will receive their excess funds on the HCC Connect card. DISBURSEMENT PROCEDURES Most students awarded financial aid will have their financial aid disbursed directly to their tuition and fees bill approximately one week after census. Any financial aid funds over and above tuition, fees, and bookstore charges will be refunded. All registered students will be issued a HCC Connect Card. The student will be required to activate the card online and select a preferred refund option. The options are direct deposit to the HCC Connect Card or direct deposit to the banking institution of choice. Refer to the refund section for more information.Federal Direct Loan and Federal PLUS Loan funds are applied directly to the student account. Any Federal Direct PLUS Loans over and above tuition and fees, and bookstore charges are refunded to the parent or student depending on the parent's refund preference as indicated on their loan application. Loan disbursements are received by Electronic Fund Transfer (EFT) and do not require an additional signature/endorsement. The student/parent will be notified in writing that the loan funds have been credited to the student account and that the borrower can cancel the loan in writing within 14 day of the notifications. Loan disbursements received by check require the borrower's endorsement at the Cashier's Office. Students participating in the work- study program will be paid semi-monthly based on the number of hours worked. FINANCIAL AID PROGRAMS Howard Community College maintains and/or coordinates the following financial aid programs for students. Financial aid awards are normally for one academic year and it is the student's responsibility to reapply each year. For all other financial aid purposes, the HCC academic year is defined as 24 credits.