Awards & Refunds

There are three forms of financial aid:
   • Grants and Scholarships that don’t have to be paid back
   • Student Loans that do need to be paid back after you get out of school
   • Federal Work-Study that you earn as you work in a department or office at Parkland during the semester.

The types of financial aid for which you may be eligible are based on your Expected Family Contribution (EFC) number, which is calculated based on the financial information you provided on your FAFSA. The higher your EFC number, the lower the amount and types of aid you are eligible to receive. Students with higher EFC numbers are only eligible for student loans.

When your financial aid file is complete, and you are eligible for financial aid, the amounts will be automatically offered to you. You will be notified at your Parkland email to access your award amounts on the my.parkland student portal. If you are offered a Federal Direct Student Loan or Federal Work-Study, you must accept and/or reject these awards through WebAdvisor at my.parkland. If you do not accept and/or reject these offers in a timely manner, they will be cancelled. Additionally, first-time borrowers of student loans at Parkland College are required to complete entrance counseling and a master promissory note, available at http://studentloans.gov.
 
REFUNDS

General refund requirements:
  •  Your paperwork must be complete on our system. 
  •  Your award amounts have been credited to your student account.
  •  You’re enrolled in the correct number of credit hours at the time the refund check is to be written.
  •  There is financial aid money left after your tuition, fees, books, and any other Parkland charges are paid.
After the initial refund date, if all of the above is complete by a Wednesday, your refund check will be mailed on Friday of that same week. If it’s complete by a Thursday or Friday, the check will be mailed out Friday of the following week.

NOTE: Make sure admissions has the correct mailing address. Check online on my.parkland or call 217/351-2482.

Student Loan Borrowers
As soon as the loan requirements are fulfilled, the refund check will be mailed out approximately one month after the semester begins.
  • Your paperwork must be complete on our system.
  • Your entrance counseling requirement must be complete on our system.* 
  • Your master promissory note requirement must be complete on our system.*
  • Your award amounts are credited to your student account.
  • You’re enrolled in the correct number of credit hours at the time the check is to be written.
  • There is financial aid money left after your tuition, fees, books, and any other Parkland charges are paid.
NOTE: One semester student loans will be paid out to the student in two separate disbursements during the semester.
*Entrance Counseling and Master Promissory Note available at www.studentloans.gov .


Specific refund situations:

PELL GRANT AND FEDERAL SUPPLEMENTAL EDUCATIONAL OPPORTUNITY GRANT (SEOG):
  • If your file is complete and your awards have been credited to your student account prior to the week before the first refund checks of the semester are mailed out:
  • Our office will verify your enrollment status after the add/drop period for each period of enrollment (approximately 10th day of semester)
  • If you have PELL and SEOG or loan funds left over after your tuition, fees, books, and any other Parkland charges are paid, a refund check will be mailed to you approximately 30 business days after you begin your enrollment.
 

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2400 West Bradley Ave | Champaign, IL 61821 | 217.351.2200 | 800.346.8089
The Mission of Parkland College is to engage the community in learning.