This study investigates the effects of financial aid disbursement policies dependent upon course attendance on course completion rates. The research is designed to answer three research questions related to the effect of (1) type of financial aid awarded to students, (2) disbursement policy and (3) the interaction effect between type of financial aid and disbursement policy on course completion rate. Previous research related to mandatory course attendance and the relationship of financial aid awards to disbursement policies is limited. This study, building upon previous research based on Vincent Tinto's models of institutional departure and institutional action, advances our understanding of the effect of institutional policy minimizing stopout and addresses gaps in the literature. The purpose of the research is to show the effect of implementing institutional actions related to financial aid awards to improve student success and curb financial aid fraud. Using a sample of 30,857 students at a two-year community college in the Southeastern region of the United States, the researcher collected information regarding course grades and financial aid awards throughout a span of nine years covering three different financial aid disbursement policy periods. The results concluded that there was a statistically significant main effect on course completion rate based on the type of aid awarded to students and the disbursement policies implemented. Additionally, there was a statistically significant interaction effect between the type of aid awarded to students and disbursement policies on course completion rate. Throughout the study, the course completion rates increased with every disbursement period. [The dissertation citations contained here are published with the permission of ProQuest LLC. Further reproduction is prohibited without permission. Copies of dissertations may be obtained by Telephone (800) 1-800-521-0600. Web page: http://bibliotheek.ehb.be:2222/en-US/products/dissertations/individuals.shtml.]