Financial Aid Disbursement Schedule and Important Dates
When you’ve made the decision to attend college, the last thing you want to worry about is when you will receive your financial aid and any available refunds. MSJC’s Financial Aid Office has provided the table below to help you quickly access the date your financial aid will be processed. Below the table, you will find information on MSJC’s partnership with BankMobile to process any available refunds. Please review the information below and contact the Financial Aid office or BankMobile with any questions relating to the disbursement of your financial aid funding.
Fall 2019 Financial Aid Disbursement Schedule
|
Files Awarded By |
Date Funds Processed |
Please review the repayment policy before dropping any classes |
|---|---|---|
|
Aug. 9 |
Aug. 16 (Fri) |
Major Grant Disbursement: First 1/3 of Pell and all SEOG, if eligible to receive |
|
Aug. 23 |
Sept. 3 (Tues) |
Supplemental Disbursement: First 1/3 of Pell and all SEOG, if eligible to receive |
|
Sept. 6 |
Sept. 16 |
Supplemental Disbursement: First 1/3 of Pell and all SEOG, if eligible to receive |
|
Sept. 20 |
Sept. 30 |
Major Grant Disbursement: Second 1/3 of Pell, 100% Cal Grant, and 100% SEOG, if eligible to receive |
|
Oct. 4 |
Oct. 14 |
Supplemental Disbursement: 2/3 of Pell, 100% SEOG and Cal Grant, if eligible to receive |
|
Oct. 18 |
Oct. 28 |
Supplemental Disbursement: 2/3 of Pell, 100% SEOG and Cal Grant, if eligible to receive |
|
Nov. 1 |
Nov. 12 (Tues) |
Major Grant Disbursement: Balance of Pell, SEOG and Cal Grant, if eligible to receive |
|
Nov. 15 |
Nov. 25 |
Supplemental Disbursement: 100% of Pell, SEOG and Cal Grant, if eligible to receive |
|
Nov. 29 |
Dec. 9 |
Supplemental Disbursement: 100% of Pell, SEOG and Cal Grant, if eligible to receive |
|
Dec. 13 |
Dec. 20 (Fri) |
Supplemental Disbursement: 100% of Pell, SEOG and Cal Grant, if eligible to receive |
|
Jan. 3 |
Jan. 13 |
Supplemental Disbursement: 100% of Pell, SEOG and Cal Grant, if eligible to receive |
Spring 2020 Financial Aid Disbursement Schedule
|
Files Awarded By |
Date Funds Processed |
Please review the repayment policy before dropping any classes |
|---|---|---|
|
Jan. 10 |
Jan. 17 (Fri) |
Major Grant Disbursement: First 1/3 of Pell and all SEOG, if eligible to receive |
|
Jan. 24 |
Feb. 3 |
Supplemental Disbursement: First 1/3 of Pell and all SEOG, if eligible to receive |
|
Feb. 7 |
Feb. 18 (Tues) |
Supplemental Disbursement: First 1/3 of Pell and all SEOG, if eligible to receive |
|
Feb. 21 |
Mar. 2 |
Major Grant Disbursement: Second 1/3 of Pell, 100% Cal Grant, and 100% SEOG, if eligible to receive |
|
Mar. 6 |
Mar. 16 |
Supplemental Disbursement: 2/3 of Pell, 100% SEOG and 100% Cal Grant, if eligible to receive |
|
Mar. 13 |
Mar. 23 |
Supplemental Disbursement: 2/3 of Pell, 100% SEOG and 100% Cal Grant, if eligible to receive |
|
Apr. 3 |
Apr. 13 |
Major Grant Disbursement: Balance of Pell, SEOG and Cal Grant, if eligible to receive |
|
Apr. 17 |
Apr. 27 |
Supplemental Disbursement: 100% of Pell, SEOG and Cal Grant, if eligible to receive |
|
May 1 |
May 11 |
Supplemental Disbursement: 100% of Pell, SEOG and Cal Grant, if eligible to receive |
|
May 15 |
May 26 (Tues) |
Supplemental Disbursement: 100% of Pell, SEOG and Cal Grant, if eligible to receive |
|
June 5 |
June 15 |
Supplemental Disbursement: 100% of Pell, SEOG and Cal Grant, if eligible to receive |
|
June 19 |
June 29 |
Supplemental Disbursement: 100% of Pell, SEOG and Cal Grant, if eligible to receive |
Any classes added to your enrollment record after the "Files Awarded By Date" are included in the second 1/3 or balance. A Late Start class must begin on or before the “Files Awarded by Date” for the units to be included in the first disbursement. If the class begins after the date listed, your funds are included in the second 1/3 or balance. Supplemental disbursements are provided if you have not received any funds during the major grant disbursement dates.
If you have been awarded a federal Pell Grant, are a new or returning student to MSJC and did not attend the previous term, the Financial Aid Office will need to place a hold on your financial aid record for 7 days while it contacts the Department of Education to verify that you have not received financial aid from another school prior to disbursing any funds.
Award letters provide the maximum amount of funds available to you and are based on full-time enrollment status. If you are enrolled less than full-time, your disbursement will be adjusted in accordance with federal regulations based on your current enrollment status. The disbursement amounts allowed are available in the table below.
|
Enrollment |
Title IV Units Required |
Eligibility |
|---|---|---|
|
Full-Time |
12 or more units |
100% of award letter amount for the semester |
|
Three-Quarter Time |
9 - 11.5 |
75% of award letter amount for the semester |
|
Half-Time |
6 - 8.5 |
50% of award letter amount for the semester |
|
Less Than Half-Time |
1 - 5.5 |
Eligibility varies |
MSJC and BankMobile
MSJC has partnered with BankMobile to deliver your financial aid awards. This partnership
and process is your key to faster financial aid disbursements and refunds.
When you receive the green envelope below, follow the following steps to make your refund preference choices.
- Visit RefundSelection.com
- Enter your Personal Code
- Select how you'd like to receive your money
You will be provided with three options for receiving your financial aid awards:
- Electronic Deposit to Another Account
- If you’d like your money transferred to your personal account, BankMobile will transfer the funds the same day it receives them from MSJC. Your bank may choose to hold the funds 1-2 business days before crediting them to your account.
- Electronic Deposit to a BankMobile Vibe Account
- The only way to get your refund immediately is to open a BankMobile Vibe account. Once your identity is verified, you will be able to access your refund the same day BankMobile receives the funds from MSJC.
- Paper Check Delivery by USPS
- When BankMobile receives funds from MSJC, it will mail a check to you the same day, provided the money is received within daily cutoff times. You can expect your check to arrive in 5-7 business days, depending on USPS First-Class delivery timeframes.
Check the status of your financial aid disbursement
To check the status of your financial aid disbursement status, visit bankmobiledisbursements.com.
Questions about BankMobile
If you have any questions or concerns about BankMobile, visit the BankMobile customer help page. To view the required disclosures and contract with BankMobile, a Division of Customer Bank, click here.