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Financial Aid Disbursement Information

Financial Aid Disbursement or Refund

Grants, loans, and scholarships are applied to the student’s account upon completion of all financial aid requirements, and will pay tuition, fees, and other charges.

Certain time frames are designated each semester to allow you to charge your books against your financial aid. During these time frames, bookstore charges can be made online or in person. CNM will create a credit account at the bookstore based on your estimated Financial Aid Offer. Aid offered for a specific term can only be used for charges accrued during that term. Refunds will only be issued if your financial aid exceeds the total amount of your charges. Any credit balance available after all charges are paid will be refunded to you for other educational expenses.

CNM first disburses financial aid funds four weeks after the term begins, and will continue disbursing each Friday thereafter. Students will receive their aid money once their financial aid file is complete and eligibility has been established.

View your schedule/bill under your cashier tab on you myCNM for your charges and refund amounts.

Disbursement options

Students may receive their financial aid funds by direct deposit into their bank account, or by mail. Students who choose direct deposit will receive their financial aid funds earlier than those receiving a mailed check. All students who want to receive their financial aid funds through direct deposit must enter their bank account information in myCNM. Students who choose not to use direct deposit will have their financial aid funds mailed to them and need to make sure their address on file with CNM is correct.

Once you register for your classes, you can view your financial aid for the term by printing a copy of your schedule with tuition and fee details (myCNM > Registration/Grades tab). If you have aid listed on this schedule at the bottom in the Memo Balance, it is a good indicator that your financial aid file is complete.

Generally, only students who have received a Financial Aid offer will receive aid. A Financial Aid Offer is a good indication that your file is certified, and you are scheduled to receive aid as long as you:

  • Are enrolled in an eligible program and in eligible courses. There are limits on Pell Grant and loan funds received for Developmental coursework (classes below 1000)
  • Are making Satisfactory Academic Progress
  • Do not have unsatisfied requirements on your account