Authorization for disposition of financial aid
By signing an Authorization for Disposition of Financial Aid Funds form, students or parents give SCAD permission to pay other fees in addition to tuition, room and board with their Federal Title IV aid; request that SCAD retain credit on their accounts for budgeting purposes; and indicate in whose name refund checks should be issued. Federal Title IV funds include Pell and SEOG 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 account deposited directly into their checking account.
To set up direct deposit for student refunds, students may log into MySCAD > My Info tab > My Student Account channel > “Direct Deposit for Student Refunds” link.
Please 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.