First Disbursement: August 18, 2020 and weekly thereafter on Fridays.
Second Disbursement: September 11, 2020
*30 day delay for first time borrowers of loans will disburse after September 27, 2020
**Second disbursement of Fall Only Loan: October 23, 2020
First Disbursement: January 12, 2021 and weekly thereafter on Fridays
Second Disbursement: February 5, 2021
*30 day delay for first time borrowers of loans will disburse after February 19, 2021
**Second disbursement of Spring Only Loan: March 19, 2021
There is only one disbursement during the summer semester
Federal Pell Grants are disbursed in two (2) disbursements each semester.
Federal SEOG Grants and Cal Grants are disbursed once (1) during each semester.
Federal Direct Loans are disbursed once (1) during each semester. One semester loans have 2 disbursements.
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.
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.
The Ventura County Community College District (VCCCD) has partnered with BankMobile to deliver your financial aid refund. For more information about BankMobile, visit this link: http://bankmobiledisbursements.com/refundchoices/
“To view our institution’s contract with BankMobile, a Division of Customers Bank, click here.”
*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.
|**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.|
|PELL RECALCULATION DATE (PRD)|
|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:|
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 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 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 (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.