BankMobile Disbursements

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

Fall 2023:  September 5, 2023 at 12:00 pm

Spring 2024:  January 29, 2024 at 12:00 pm

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.

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: 

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.

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 14 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 14 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 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.

• 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