FALL 2016 FINANCIAL AID DISBURSEMENT SCHEDULE

 

BankMobile - Southwestern College has partnered with Bank Mobile (formerly Higher One®) to offer students a secure and flexible method to receive their financial aid funds. Students may choose to have funds automatically deposited to a current checking account, open a BankMobile account or receive a paper check. Students may also change their deposit method choice at any time. All students must have a deposit method choice on file for fund disbursement.
New students will receive a bright green envelope from BankMobile 3-5 days after they are awarded financial aid. Once it arrives, simply follow the instructions to choose a deposit method. It is important to complete this process as soon as possible to ensure there is not delay in receiving funds! 

Continuing students will continue to receive funds from SWC as they have in the past. However, students may always change their deposit method choice at any time.

                Click here for more information on BankMobile and choosing your disbursement method.

Fall Freeze Date

The freeze date for the Fall term is Friday, September 9, 2016.  On this date we will record each student’s unit load (number of units enrolled), which will determine the student’s eligibility for financial aid awards for the semester.  For more information on how this important date impacts your financial aid eligibility, please click here.

Federal Pell Grant

The Pell Grant awards are split into two disbursements per semester.  The initial semester disbursement will be 30% of your semester eligibility (based on enrolled units) and the second disbursement will be the remainder ( or 70%) of your semester eligibility. Payment for short sessions beginning mid-term will be made in the November disbursement. If you are are scheduled for your first Pell disbursement in October, November or December, you will only receive one disbursement for the semester, which will be for 100% of your semester eligibility.

Pell Grant awards displayed on your award letter represent your full-time eligibility; students enrolled in less than full-time enrollment will receive a PRORATED Pell award. 

Disbursement dates are assigned based on the date of your Pell award date and the  cutoff date for each scheduled disbursement date is indicated below.  Once a Pell award cutoff date has passed, your disbursement will be scheduled for the next available disbursement date. 

Pell award cutoff date:

8/9/16

9/2/16

9/23/16

10/24/16

11/10/16

Disbursement Date:

Week of
8/28/16
(Initial
30% Pell disbursement)

Week of
9/25/16
(initial
30% Pell disbursement)

Week of
10/24/16

Week of 11/21/16

Week of 12/12/16

Federal Supplemental Educational Opportunity  Grant (FSEOG) 

The FSEOG awards will be disbursed once per semester.
Disbursed the week of 11/21/16

Cal Grant B&C

The Cal Grant B&C awards will be disbursed once per semester.
Disbursed the week of 9/25/16 

Full Time Student Success Grant (FTSSG)

The FTSSG awards will be disbursed once per semester.
Disbursed the week of 9/25/16 

Federal Direct Loans

Students enrolled for Fall and Spring terms will received one loan disbursement per semester. Students enrolled for only one semester will have two disbursements. Disbursement dates are assigned based on the date that you submit your completed application.  
Once an initial application date has passed, your disbursement will be scheduled for the next available disbursement date. 

Direct Loan award cutoff date:

 

9/2/16

9/23/16

10/24/16

11/10/16

Disbursement Date:

 

Week of 9/25/16

Week of 10/24/16

Week of 11/21/16

Week of 12/12/16

 ~  IMPORTANT INFORMATION  ~        

  • Disbursement dates are estimates and are subject to change without notice and will occur on or after the estimated disbursement dates listed.
  • All awards are contingent upon institutional receipt of funds from the federal and/or state government and are subject to change.
  • FSEOG funds are usually awarded in excess of Southwestern College’s annual allocation in anticipation of SEOG cancellations; therefore, your FSEOG award could be subject to cancellation due to the estimated cancellation rate does not match projections.
Last updated: 8/8/2016 5:46:19 PM