Ventura County Community College District (VCCCD) is partnering with Bankmobile Disbursements to *disburse financial aid. You will need to select how you want to receive financial aid. Below are the options available for receiving financial aid disbursements.
- Directly deposit your refund into your existing Bank account (ACH)
- Open a Bankmobile Disbursement account and have your aid disbursed directly onto the VCCCD debit card
If you have not selected a disbursement/refund choice, financial aid will be delayed.
If you need assistance with selecting a disbursement option please stop by the financial aid kiosk during our business hours and we will be happy to assist you.
*Bankmobile Disbursements uses the word “refund”. Financial Aid uses the word “disbursement.” In either case, this is the financial aid that is due to the student.
To view our institution's contract with BankMobile, a Division of Customer Bank, click here https://www.vibeaccount.com/swc/doc/landing/7q72yefn7dgq6ajoik21 .
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.
Cal grant B and C are disbursed in two (2) disbursements each semester.
Full Time Student Success Grants are disbursed once (1) during 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)
Initial Disbursements*: August 19th, August 23rd, August 26th of 2016 and weekly there after on Fridays.
Census and Freeze Date: September 6th, 2016
2nd Disbursement**: September 9, 2016
*30 day delay for first time borrowers of loans will disburse on September 23rd, 2016
**Second disbursement of Fall Only Loan: October 21, 2016
Initial Disbursements*: January 10th, January 13th, January 20th of 2017 and weekly there after on Fridays
Census and Freeze Date: February 6, 2017
2nd Disbursement**: February 10, 2017
*30 day delay for first time borrowers of loans will disburse on February 17th, 2017
**Second disbursement of Spring Only Loan: March 24th, 2017
*Note: There is only one disbursement during the summer semester.
** You will receive your refund from Bankmobile Disbursements 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:
September 6th, 2016 @ 6:00 AM
February 6th, 2017 @ 6:00 AM
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 first week of the semester or once you are attending 6 or more units. *
Please Note: 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.
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.
Federal Work-Study wages are paid twice per month for students who submit online time-sheets by the prescribed deadlines.
Please Note: Cal Grants, Chafee Grants, and Full Time Student Success Grants are disbursed as funding becomes available through the state.