Disbursement Information

How You Receive Your Financial Aid (Disbursement)

Ventura College disburses your federal student aid funds in two payments throughout the academic year. To find the exact dates for the current year's disbursements, visit the Important Dates page on the Ventura College website.

Pell Grant Update: Important Dates to Remember!

The Pell Grant Recalculation Date (also known as the census date) is a critical deadline that affects your final Pell Grant award for the semester. Here's what you need to know:

• The deadline to confirm your enrollment: The Financial Aid Office uses this date to verify how many credits you're actually taking.
• Why it matters: If the number of credits you're enrolled in changes after your initial award, your Pell Grant might be adjusted (increased or decreased) to reflect your actual enrollment.

Missing the deadline can affect your aid:

• No changes after the deadline: Once the Recalculation Date passes, your award amount is locked in.
• Classes added later don't count: Adding classes after this date won't increase your Pell Grant, even if they start later.
• Dropping classes can mean repaying aid: If you drop, withdraw from, or never attend a registered class, your financial aid may be reduced. In some cases, you might have to repay funds already received.

Stay on top of your enrollment!

To avoid any surprises with your final Pell Grant award, make sure your enrollment status is accurate before the Recalculation Date.

Find the deadline:

For the specific Pell Grant Recalculation Dates for the current academic year, visit the link to Important Dates page on the Ventura College website.

The Ventura County Community College District (VCCCD) delivers your refund with BankMobile Disbursements, a technology solutions partnered by BMTX, Inc. Visit this link for more information:  http://bankmobiledisbursements.com/refundchoices/

To view our third-party servicer contract for refund management, view the contract online.

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

It usually takes 4 to 21 days to receive your financial aid refund after your payment shows up in your MyVCCCD portal account. Here are some key things to remember:

• The wait time depends on:
  • How you paid your tuition (payment method)
  • When your classes start
• The date on your MyVCCCD portal is for internal processing only. It's not the disbursement date for your funds.
• The payment schedule assumes full-time enrollment. If you're enrolled part-time, your refund will be less and adjusted based on the number of units you're taking.

For more information on refund disbursement dates, please visit the Important Dates page on the Ventura College website.

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 Pell Recalculation 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.

Important Information About Short-Term Classes and Financial Aid/Benefits

Taking short-term classes can affect your financial aid, veteran benefits, and eligibility for intercollegiate sports. Here's why:

• Reduced Aid/Benefits: The number of units you're enrolled in determines your financial aid and veteran benefit awards. Short-term classes might lower your unit count, reducing your aid/benefit amount or disqualifying you entirely.
• Counting Units: When units are counted for aid/benefits can differ. In some cases, units from late-starting classes might not count until the class begins, while others might not count after it ends. Talk to your financial aid or veterans' office for specifics.
• Modular Class Impact: If you're taking linked modular classes (where the first class is required for the second), failing the first class will drop you from the second and remove those units from your enrollment. This could lead to repaying received aid/benefits.

Before enrolling in short-term classes, discuss it with your counselor, financial aid office, or veterans' benefits advisor if you:

• Receive financial aid or veteran benefits
• Plan to participate in intercollegiate sports

They can help you understand the potential impact on your specific situation.

Your financial aid award is the most you can get for the entire school year. But this assumes you'll be a full-time student all year long.

• Enrolling part-time? Your award amount will be adjusted (reduced) based on how many credits you actually take.

We'll explain more about part-time enrollment and its impact on financial aid in the "Attending Hours" section below.

Financial Aid Award and Enrollment

• Full-time Enrollment (12+ units): This qualifies you for the maximum financial aid award for the school year.
• Part-time Enrollment (Less than 12 units): Your financial aid award will be prorated based on the number of units you take. See the table below for enrollment status based on unit requirements.

Get Paid for Working on Campus with Federal Work-Study!

If you're a Federal Work-Study student, you'll earn money for your on-campus job and get paid twice a month. Here's how it works:

• Submit your timesheet on time: This is crucial to ensure you get paid on schedule.
• Check the deadlines: Visit our website to find the specific deadlines for submitting your timesheet each pay period.

By following these steps, you'll receive your pay promptly.

When to Expect Your Cal Grant and Chafee Grant Funds

Cal Grants and Chafee Grants are need-based financial aid programs funded by the state. Unfortunately, there isn't a set disbursement date for these grants because funding is released throughout the year.

We recommend checking with the Financial Aid Office for the latest information on Cal Grant and Chafee Grant disbursement. They can provide an estimated timeframe based on current funding availability.

In the meantime, you can be sure Ventura College will disburse your Cal Grant and Chafee Grant funds as soon as they receive them from the state.

Understanding Your Direct Loan Disbursement

Direct Loans are federal student loans that come in multiple installments throughout the semester. Here's what you need to know:

• Loan Fees: You'll be charged fees that cover program costs. These fees are deducted from your loan amount before you receive the funds.
• Loan Disclosure Statement: Once your loan is approved, you'll receive a detailed document called a Loan Disclosure Statement. This document will include:
  • Disbursement dates (approximate dates, allow 2 extra weeks for processing)
  • Loan fees deducted
  • Net amount you'll receive

Important points to remember:

• You must be enrolled at least half-time to qualify for each loan disbursement, and Ventura College will verify your enrollment before each payment.
• If you're a first-time borrower in your first year, there's a 30-day delay before your first disbursement.
• You're in control! You have the right to decline the loan entirely or request a lower amount by filling out a Financial Aid Revision Form.

Need more info? Contact the Financial Aid Office for any questions about your Direct Loan disbursement.