Southwestern College

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SUMMER 2017 FINANCIAL AID DISBURSEMENT SCHEDULE

BankMobile Vibe
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 always have the option to change their deposit method choice at any time.

 

Disbursement and Freeze Dates

 

Summer Freeze Date:

6/15/17

Disbursement Date:

Week of 7/24/17

 

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.


Calculation of eligibility for summer aid
The summer 2017 term (6/5/17-8/6/17) is considered a cross-over period and is assigned exclusively to the 2016-17 award year. The 9 week (beginning 6/5/17) and 8 week (beginning 6/12/17) will be combined and treated as one term.  Full-time enrollment will be defined as 12 credits.

To be considered for summer 2017 aid, new and continuing students must complete a 2016-17 FAFSA by the June 30, 2017 deadline and submit all requested documentation.

The maximum amount of federal Pell Grant funding you can receive is calculated for an award year (fall 2016 and spring 2017). If you have already received the full amount of your scheduled award, you will have used 100% of your eligibility. Only students who have not previously used all their annual Pell eligibility can be considered for a summer Pell award.

Please see example below and percentage of yearly eligibility used each term:

Fall 2016 (Pell paid)

Spring 2017 (Pell paid)

Summer 2017 (Pell eligibility)

$2,908 (50%)

$2,907 (50%)

0.00
(enrolled 3 credits,
no Pell eligibility remaining)

$2,908 (50%)

$1,453 (25%)

$1,454 (25%)
(enrolled in 6 units, maximum remaining Pell eligibility)

$1,454 (25%)

$2,907 (50%)

$1,453 (25%)
(enrolled in 9 units, maximum remaining Pell eligibility)

0.00

$2,908 (50%)

$2,907 (50%)
(enrolled in 12 units, maximum Pell eligibility remaining)

 

Satisfactory Academic Progress
Students must meet the 2016-17 financial aid satisfactory academic progress standards calculated at the end of the spring 2017 term (after grades are submitted).  Disqualified students would not be eligible for aid beginning with the summer 2017 financial aid term (excluding BOGFW). Disqualified students will have the opportunity to appeal Go to www.swccd.edu/sap for more information.

Transfer Students
Students who attended a school other than Southwestern College for the fall 2016 and/or spring 2017 terms are considered transfer students. These students will require transfer monitoring prior to disbursement in order to determine their Pell eligibility for the summer 2017 term.

Calculating remaining eligibility for transfer students:

1)  Pell disbursed at prior school (/) Scheduled award at prior school (=) % of scheduled award used

2)  Subtract % of scheduled award used from 100% (=) Remaining % of scheduled award available

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Last updated: 5/20/2017 7:38:27 PM