Financial Aid Disbursement

Financial aid (grants, scholarships, loans) is applied to all unpaid tuition, fee, and book charges on each student's account on the 11th business day of the semester (the exception to this is work-study wages which are paid bi-weekly for the duration of the student's employment).

To avoid late fees, students first applying for financial aid or completing verification after August 1st each year should make other arrangements to satisfy their tuition, housing, bookstore and other institutional charges while financial aid processes. Grants, scholarships, and loans that apply to an account that has a zero balance will be paid directly to the student via direct deposit. Paper checks will be mailed to the permanent address on file to students unable to set up a direct deposit account. Students who do not have enough financial aid in place to cover their charges should establish a payment plan prior to the first day of the semester. For more details contact the Business Office at 218-322-2310.

Direct deposits will first be available:

  • Fall 2021: September 8, 2021
  • Spring 2022: January 26, 2021
  • Summer 2022: varies based on individual student schedule

New financial aid processed throughout the semester is applied to ICC student accounts every Tuesday and Thursday. Excess direct deposit funds will typically be available to students every Wednesday and Friday. Paper checks will be processed only on Wednesdays.

Paper checks for financial aid overages are no longer available for pick-up at the school and will be mailed to the student's permanent address on file. Please ensure that your contact information, including your mailing address, telephone number and email address are continuously updated in eServices.

Direct Deposit is highly encouraged