Disbursement Information

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Disbursement Dates:

Summer 2016

Disbursements begin - June 1, 2016 and will continue every week thereafter*

Fall 2016:

Disbursements begin - August 19, 2016 and will continue weekly thereafter*

Census and Freeze Date: September 6th, 2016

2nd Disbursement**: September 9, 2016 and weekly there after

 

*See Attending Hours below for additional disbursement information

Click here for the important dates calendar for more information on deadlines, events, office closures, etc.

BankMobile Information:

The Ventura County Community College District (VCCCD) partners with BankMobile to disburse* financial aid. VCCCD students expecting to receive a financial aid disbursement will receive a Refund Selection Kit from BankMobile in the mail at their primary address on file with VCCCD. 

Your options for receiving your refunds are:

  • Electronic Deposit to another Account: Money is transferred to another account the same business day BankMobile receives funds from your school. Typically it takes 1-2 business days for the receiving bank to credit the money to your account.
  • Electronic Deposit to A BankMobile Vibe Account: If you open a BankMobile Vibe account (upon identity verification), money is deposited the same business day BankMobile receives funds from your school.

If you have not selected a disbursement/refund choice, your financial aid will be delayed.

If you need assistance with selecting a disbursement option please stop by the financial aid office during our business hours with your BankMobile Refund Selection Kit and we will be happy to assist you.

*BankMobile uses the word “refund”. Financial Aid uses the word “disbursement.” In either case, this is the financial aid that is due to the student.

Attending Hours

Financial Aid will be disbursed to students based on attending hours. Therefore, the start date of your classes will dictate how much you will receive in each of your disbursement(s).

If you are registered and meet all financial aid eligibility requirements for your disbursement AND:

  • You are registered and ALL of your classes begin on the first day of the semester, your first disbursement is scheduled and the specific date that disbursement beings is available on your portal after all chargers are paid
  • Your enrollment includes a combination of classes that start on the first day of the semester AND classes that start later in the semester, you may receive a partial first disbursement* of financial aid, if eligible, the first week of the semester.  The remainder of the first disbursement will disburse approximately 7-10 days after your next class(s) begins.
  • You are ONLY enrolled in late start classes (meaning those that start after the first day of the semester), your financial aid disbursement(s)* will occur approximately 7-10 days after each late start class begins.

Please note, students must be registered in ALL of their classes, regardless of when they begin, prior to the Freeze Date of the semester in order for those courses to count toward your financial aid enrollment status. Courses registered in after this date cannot be considered for federal financial aid funding. All students should allow 7 to 21 days after payment appears on your MyVCCCD portal account to receive your refund.

*Loan disbursements for students in 6 or more Attending Hours (your classes have begun) will begin disbursing the second week of the semester or once you are attending 6 or more units.

Federal Work-Study

Federal Work-Study wages are paid twice per month for students who submit time-sheets by the prescribed deadlines.  Please refer to our website for timesheet and payroll dates.

Cal Grant/Chafee Grant Disbursements

Cal Grants and Chafee Grants are disbursed as funding becomes available through the state.

Federal Direct Loan Disbursements

Direct Loans are issued to students in multiple disbursements. Direct Loan borrowers will be charged loan fees which are deducted from the loan proceeds and are used to cover the costs of loan defaults and other administrative costs of the Direct Loan Program. After your loan has been certified, you will receive a Loan Disclosure Statement with pertinent information regarding your loan, including disbursement dates, deducted fees, and net disbursement amounts.  Disbursement dates that appear on the Direct Loan Disclosure Statement are approximate dates.  Please allow two additional weeks of processing time from the date that appears on your Direct Loan Disclosure Statement. 

Half-time enrollment must be maintained and is verified before each loan disbursement.

If you are a first-year, first-time loan borrower, there will be a 30 day delay in your first loan disbursement.

You have the right to decline the loan or to request a lower loan amount by completing a Financial Aid Revision Form.

Financial Aid Award Revision

NO REVISIONS will be made to your financial aid award(s) after this date. This means that your award will increase or decrease according to your enrollment status as of the dates below:

  • Fall 2016: September 6, 2016
  • Spring 2017: TBD

Short-Term Classes or Late-Start Classes

Be aware that registration in short-term or late-start classes affects the number of units you are enrolled in and attending at any given time, which will reduce the amount of financial aid awarded and disbursed and/or veterans’ benefits you receive, or restrict your ability to play intercollegiate sports. In some cases, units for a late-start class may not be counted until the class begins; in others, the units may not be counted after the class ends.

Consider, too, that if you register in modular classes where the first class is prerequisite to the second – like accelerated math and English classes – and fail the first class, you are going to be dropped from the second class and will lose those units. If you have already received financial aid or veterans’ benefits, you could be required to pay back all or part of your award.

Please consider the potential impact of short term classes before deciding that they are right for you! We strongly recommend that students, who are receiving financial aid and/or veterans’ benefits, or who plan to play intercollegiate sports, talk to your Counselor, contact the Financial Aid Office or Veterans’ Benefits assistant before selecting short-term classes as part of your class schedule.

Enrollment Status

Your financial aid award is the maximum amount of aid you can receive in the school year (if you are enrolled as a full-time student the whole year). If you are not enrolled full time, the amount you will receive will be less and prorated based on your actual enrollment. 
*See Attending Hours below:

Enrollment Status Unit Requirement
Full Time 12+
Three Quarter Time 9-11.5
Half Time 6-8.5
Less Than Half Time 0.5-5.5
*Please note, for Summer financial aid eligibility, enrollment statuses remain the same as outlined above.