In certain situations the Financial Aid Office is required to return financial aid funds received by students to their source.
Refund distribution, as prescribed by Federal Regulation, is made in the following order:
- Unsubsidized Federal Direct Loan
- Subsidized Federal Direct Loan
- Federal PLUS Loan
- Federal SEOG Grant
- Federal Pell Grant
Direct Deposit of Financial Aid Refunds
Lakeshore Technical College is excited to offer students a new way of receiving student refunds for financial aid distributions via direct deposit. The new program, called LTC E-Refunds, provides a safe and secure method of depositing funds to bank or credit union account you designate. Instead of receiving a check in the mail, students can elect to have student refunds sent electronically to a checking account, usually within three business days.
Once enrolled, your e-refund election immediately becomes active and will remain so until you remove it on the signup page. Your money is automatically deposited into your account on time, every time - and you don't have to be at school - or even in town! E-Refunds gives you access to your money earlier than check deposits. There is no waiting for checks to clear. You no longer have to worry about a check being lost in the mail or going to an address where you no longer live, and you no longer have to stand in line at your bank to make a deposit.
And besides, LTC E-Refunds are environment friendly - it's paperless!
To sign up all you need is your bank routing number and account number. Both can be found on the face of your checks. Click here to get help for this.