Authorization for disposition of financial aid
By signing an Authorization for Disposition of Financial Aid Funds form, students or parents give SCAD permission to apply federal Title IV funds, other financial aid and/or any applied payments to all legitimate institutional charges; or they may request that SCAD retain a credit on their accounts for budgeting purposes for future quarters. Federal Title IV funds include Pell and Supplemental Educational Opportunity grants and student and parent federal loans. This is a one-time authorization and is valid for subsequent award years. The form and conditions may be modified in writing through the student accounts office.
Students may elect to have their financial aid credit balance refunds and other refunds from their student accounts deposited directly into their checking accounts.
To set up direct deposit for student refunds, students may log in to MySCAD > My Info tab > My Student Account channel > "Direct Deposit for Student Refunds" link.
Be aware that only student credit balance refunds or parent loan refunds authorized to be sent to the student can be direct deposited. Parent PLUS Loan refunds not authorized to go to the student will be processed as a paper check made out to the borrower and mailed to the address provided on the loan application. To modify the disposition of a Parent PLUS Loan credit balance, the parent borrower must complete an Authorization for Parent PLUS Loan form and submit it to the student accounts office.