Disbursement Information

 

Ventura County Community College District (VCCCD) is partnering with Higher One to *disburse financial aid. You will need your VCCCD debit card to select how you want to receive your financial aid. The VCCCD debit card is the key to receiving your financial aid. Below are the options available to you for receiving your financial aid disbursement.

  • Open a Higher One account and have your aid disbursed directly onto your VCCCD debit card
  • Directly deposit your refund into your existing Bank account (ACH)
  • Receive a paper check.

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 VCCCD debit card and we will be happy to assist you.

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

Please note: Your financial aid award 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. 

Federal Pell  Grants are disbursed in two (2) disbursements each semester.  

Federal SEOG Grants are disbursed once (1) during each semester. 

Federal Direct Loans are disbursed once (1)  during each semester, unless the loan is a one semester only loan then it is disbursed twice (2)

 Fall 2014:

1st Disbursement: August 22nd and weekly there after

2nd Disbursement October 24th

Spring 2015:

1st Disbursement: January 16th and weekly there after

2nd Disbursement March 20th

Summer 2015:

Disbursement: June 26th and weekly there after

*Note: There is only one disbursement during the summer semester.

** You will receive your refund from Higher One approximately 4 to 21 days after a payment appears on your MyVCCCD portal account.

Freeze Date: 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 2014

October 19, 2014

Spring 2015

March 15, 2015

Summer 2015

Dates vary, check the schedule of classes for the last day to withdraw without a 'W'.

VCCCD will disburse financial aid 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 begins is available on your portal after all charges 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 4-10 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 4-10 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 our Freeze Date in order for those courses to count toward your financial aid enrollment status. The freeze date, in financial aid terms, is the date that the Financial Aid Office will freeze enrollment for all financial aid applicants. On the freeze date, the financial aid system will lock a student's enrollment (units). A student's award will increase or decrease according to their enrollment. Courses registered in after this date cannot be considered for federal financial aid funding. All students should allow 4 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.

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 originated, 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 may be a 30 day delay in your first loan disbursement per federal regulations.

Federal Work-Study wages are paid twice per month for students who submit time-sheets by the prescribed deadlines.

 

What is a Cal Grant?
What is a Cal Grant?

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