Disbursement and Refund Information 2016-2017

What does disbursement mean?

Disbursement is the process of turning your financial aid offer into a payment for your account. You must meet all eligibility requirements in order for the financial aid office to request a disbursement of funds. The disbursement process takes approximately 3 business days to complete, and funds will not be refunded to you until 3 business days after they are disbursed.

The disbursements are processed on Monday of each disbursement week. The Financial Aid disbursements will first cover/pay any outstanding balances due to the college. A Refund of the Student’s Financial Aid will be transmitted to BankMobile on the following Thursday.

Pell Grant

These grants are disbursed in two payments per semester. Your Pell payment will be based upon your enrollment status (full time, three-quarter time, half time, less than half time) at the time of the calculation.

Prior to the second disbursement, your enrollment status will be reviewed.* the second payment is provided to meet the educational expenses for the remainder of the term. Payments are made throughout the semester as the students’ eligibility requirements are met.

Late starting classes must have begun for units to be included in the first disbursement; otherwise they will be included on the following disbursements.  Payments will be adjusted according to enrollment status.

For students whose financial aid files were incomplete at the beginning of the school year or were awarded later in the term, payments will be issued on the following disbursement dates.

Classes officially added after the following semester deadlines will not be funded:

             Fall 2016         End of 9^th week

             Spring 2017     End of 8^th week

            Summer 2017  To be determined

Supplemental Educational Opportunity Grant (SEOG)

The SEOG is disbursed in one payment during the second week of the semester. It is based on your enrollment status at the time of disbursement.

Cal Grant

The Cal Grants are disbursed in one payment each semester after the end of the fourth week. It is based on your enrollment status at the time of disbursement.

Full –Time Student Success Grant

The Full-Time Student Success Grant is a new financial aid program for Cal Grant B recipients attending a California community college full time.

Direct Subsidized and Direct Unsubsidized Loans

Disbursements for loans are made in two payments per semester. Loans are disbursed after the end of the sixth week.

Scholarships

Disbursements for scholarships are made in one payment each term after the funds have been received from the funding source.

*Students who drop classes, withdraw from all classes, or who stop attending all classes and receive all failing grades may be required to repay some or all of the funds they received for the semester.

BankMobile (Formerly Higher One)

Antelope Valley College has partnered with BankMobile to deliver refunds and offer you smarter ways to manage your money.

Look for your Refund Selection Kit. It looks like this.

Once it arrives, simply follow these steps to make your refund preference selection:

1.     Visit RefundSelection.com

2.     Enter your Personal Code

3.     Create your login information

4.     Select how you'd like to receive your money.

What happens if I don’t log in and select a refund preference?

If you do not log in and select a refund preference, BankMobile will mail a paper check to you no sooner than 21 days after your refund is disbursed. Regardless of whether you anticipate receiving a refund or not, it is important to select your refund preference as soon as you receive the refund selection kit so that you do not have to wait for your money.

How long will it take to receive my funds once I have selected my preferred refund method?

Once the college has refunded your financial aid funds BankMobile will distribute your funds as follows:

·       Direct deposit to your own checking or savings account—2-3 business days

·       BankMobile Vibe account—same business day

·       Paper Check—5-7 days

What if I didn’t receive the BankMobile Refund Selection Kit?

The BankMobile Refund Selection Kit is mailed to the mailing address on file with Admissions and Records. If you did not receive the mailer, please verify and/or update your current mailing address on your MyAVC account. Once your mailing address is confirmed please visit the financial aid office to request a Personal Code.

Where can I check to see if my financial aid disbursement is ready?

An email will be sent to your AVC email account whenever a refund/disbursement has been processed.

ATM Locator Website http://www.allpointnetwork.com/atm-locators.aspx

Click here to view our institution's contract with BankMobile, a Division of Customer Bank.

For more information about BankMobile Disbursements please visit http://bankmobiledisbursements.com/refundchoices/

Financial Aid Payment Schedule