A disbursement is the payment of federal student aid funds to the student by Ventura College. Students generally receive federal student aid in two disbursements.
The Pell Recalculation Date (also known as the census date), is the date the Financial Aid Office uses to evaluated Federal Pell Grant eligibility based on your current enrollment status. If the Pell Grant you were awarded does not match your current enrollment status, your award will need to be adjusted. This means that your award will increase or decrease according to your enrollment status as of the dates below.
No revisions will be made to your financial aid award after the Pell Recalculation Date. Any classes added after this date will not count towards your Federal Pell Grant eligibility, regardless of the start dated of the course. If you drop, withdraw from, or do not attend the course you registered for, your financial aid may be adjusted. If funding has already disbursed, you may be required to repay your financial aid.
The Ventura County Community College District (VCCCD) delivers your refund with BankMobile Disbursements, a technology solutions partnered by BMTX, Inc. Visit this link for more information: https://bankmobiledisbursements.com/refundchoices/
To view our third-party servicer contract for refund management, view the contract online.
*BMTX, Inc. uses the word “refund”. Financial Aid uses the word “disbursement.” In either case, this is the financial aid that is due to the student.
You will receive your refund 4 to 21 days after a payment appears on your MyVCCCD portal account, depending on the payment method you chose and the date your classes begin. The date noted on your MyVCCCD portal is an internal processing date ONLY. Please be aware this is NOT the disbursement date for your funds. Your payment schedule reflects a full-time enrollment assumption. If you are not enrolled full-time, the amount you will receive will be less and prorated based on your actual enrollment.
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:
Please note, students must be registered in ALL of their classes, regardless of when they begin, prior to the Pell Recalculation 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 14 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.
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.
Your financial aid award is the maximum amount of aid you can receive in the school year. (This assumes 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 or more units |
Three Quarter Time | 9 - 11.75 |
Half Time | 6 - 8.75 |
Less Than Half Time | 0.25 - 5.75 |
Please note, for Summer financial aid eligibility, enrollment status remains the same as outlined above. |
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.