Please note these are estimated disbursement dates. Only students who have submitted paperwork in time, meet all financial aid requirements, and are enrolled will receive the disbursements on the major disbursement dates. If you have late enrollment, submit late paperwork, or do not meet all eligibility requirements, you will not receive a disbursement on this date. Disbursements are regularly scheduled on a weekly basis after the first disbursement.
Attention Financial Aid Students!!!
BANKMOBILE
How to Access your Financial Aid Funds
The Peralta Community College District has partnered with BankMobile (Formerly Higher One, Inc.), a financial services company, to implement a new method of Financial Aid disbursement to the campuses.
Once you receive your Bank Mobile Personal Code in the mail. Students can set up their financial aid funds to be deposited directly into their personal checking or savings account or set up a checking account with BankMobile. For information on Peralta Community College District’s contract with Bankmobile, click here.
Follow these three simple steps:
- Visit the website www.refundselection.com
- Set up – Enter your personal code to get started
- Choose the refund option that is best for you (PeraltaCard or Direct Deposit)
Students will have 2 choices to receive their disbursement:
Direct deposits to an existing bank account (i.e. Wells Fargo, Bank of America, Credit Union, etc.…) (refunds available in 2-3 business days)
Bank Mobile Vibe account– Same-day deposits to students’ BankMobile account (Debit Card). If you choose this option, BankMobile will send you a Peralta Debit Card within 5-7 business days
Questions about receiving or activating your BankMobile Vibe account? Bank Mobile Customer Care
Questions about fees associated with the BankMobible Vibe account? Fee Schedule
AllPoint ATM Locations
- Merritt College – R Building next to Admission and Records and Financial Aid entrance
- Berkeley City College – 5th floor in the Student Lounge
- College of Alameda – F Building right next to the Cyber Cafe
- Laney College – Student center in the dining hall
Laney College delivers your refund with BankMobile Disbursements, a technology solution, powered by BMTX, Inc. For more information about BankMobile Disbursements, visit this link: https://bankmobiledisbursements.com/refundchoices/
To view our third-party servicer contract for refund management, click here
HOW MUCH WILL I RECEIVE?
How Does Financial Aid Pay for My Fees?
The Office of Financial Aid works in conjunction with Student Financial Services to pay accepted financial aid awards to students. These payments are called “disbursements” and begin the week before classes start each semester.
To better support Pell Grant students purchase their books and supplies in a timely fashion, Financial Aid is disbursed to eligible students as early as the Friday before the first day of classes each semester, and weekly thereafter.
All financial aid will first be applied to institutional charges, which include: tuition and mandatory state and campus fees Any remaining financial aid after institutional charges are paid will then be refunded to the student. Please see the “How to Access your Financial Aid Funds section of this page for more information.
Enrollment Status
How much funding you receive depends on the number of units you are enrolled in and what type of financial aid you have been provided.
The enrollment status of the student at the time that funds are prepared for disbursement will be used to determine the payment amount. For purposes of financial aid, enrollment status is defined as outlined in the table below.
- Please keep in mind that most financial aid funds are disbursed in two-three payments for each term. For example, Pell grants are disbursed 25% before the term starts, 25% the week of school, and 50% at the midpoint. You can view your financial aid by semester on your student center by detailing it for each term.
- Loans are not prorated. The full amount of loan funds for the semester will be disbursed as long as the student is enrolled in a minimum of six units.
- If you are enrolled part-time (fewer than 12 units), you may receive a partial payment of Cal Grant or Federal Pell Grant. If your enrollment status increases so that you qualify for additional funds, you may receive a supplemental payment.
|
|
|
| Enrollment |
Number of Units |
|
| Full-Time |
12 or more |
|
| ¾ Time |
9 – 11.5 |
|
| ½ Time |
6 – 8.5 |
|
| < ½ Time |
5 or less |
|
Financial Aid Census Date and Pell Grant
Pell Grant recipients who change enrollment status (adding or dropping classes) will have their eligibility recalculated based on their enrollment status as of the Financial Aid census date for each semester, typically on the last day to add/drop a class. Students who are enrolled less than full-time at the time of the initial disbursement and who later add classes prior to the enrollment census date will receive a subsequent disbursement based on the newly updated enrollment status to reflect the correct payment eligibility (3/4 time or full-time). Likewise, Pell Grant funds will be recalculated for students who drop classes before the census and the revised Pell Grant will be based on “census” enrollment status. In some instances, this recalculation may result in a repayment of funds already disbursed as a result of the reduction in units following the disbursement of Pell Grant funds.
Cal Grant Awarding and Disbursement
Cal Grants are generally disbursed in one payment per term. Students who are initially deemed eligible by the college for Cal Grant before the FA census date will be disbursed based on the student enrollment status as of the FA census date. Students who are initially deemed eligible by the college for Cal Grant after the FA Census date will be disbursed based on the recipient’s current enrollment status at the time of disbursement. Students who are initially deemed eligible for Cal Grant by the college after the term has ended will be disbursed based on the number of units completed for the term.
Adjustments can be made to initial Cal Grant disbursements based on increases in student enrollment load.
The first Cal Grant disbursement will occur the week of the FA census date for every term. After the first disbursement, Cal Grants are disbursed weekly throughout the term as students become eligible for the funds.
STUDENT AUTHORIZATION OF FINANCIAL AID DISBURSEMENT
Federal and State governments offer financial aid funding to those students who qualify. Disbursements of federal and state financial aid, (e.g. Title IV* funds and/or Cal Grants), are applied to a student’s account for allowable institutional charges. Allowable charges are tuition and fees. Various types of state aid, (e.g. Cal Grant B Access), allow a student the right to opt out of having future state funds applied towards paying the student’s institutional charges and to have those funds be delivered directly to the student. To opt out, students must contact the District Financial Aid Office.
** Warning: Choosing to “Opt-Out” may create a college debt/obligation for the student. If the student chooses to “Opt-Out” of having aid pay institutional charges, any balance owed to the college must be paid in full.
DISBURSEMENT INFORMATION &FREQUENTLY ASKED QUESTIONS
Disbursement Eligibility
You must meet all disbursement requirements in order for your aid to pay. Some of the general requirements to receive payment of funds include:
- Submission of all required documents.
- Meeting all satisfactory academic progress (SAP) requirements.
- Enrollment for term
Specific Disbursement Requirements:
Please note that certain student aid programs may have very specific disbursement requirements in addition to the general disbursement requirements. For example, Cal Grant recipients must be California residents whereas some scholarship programs require that students be enrolled full-time to receive any scholarship funds. These special requirements must be met in order for those funds to be disbursed
