Method of Disbursements
Disbursement dates and deadlines are mandated by Federal, State, District and/or Institutional regulations and policies, and must be met or applications cannot be accepted or processed.
Grants and loan are disbursed through the MyLaccdCard Debit Card method. Federal Work-Study payroll checks are sent by mail to the address on file in the Admissions Office, or are transferred electronically to the student’s bank account, or on rare occasions sent to the College Business Office. It is your responsibility to report address and phone number changes to the Admissions and Financial Aid & Scholarship Offices.
Loan Disbursement and Cancellation
If your award includes a Loan and you choose to accept it, you will receive disbursement instructions during the Loan Counseling Session or from your loan award notification. Upon receive your loan disbursement, should you decide to cancel all or portions of your loan within 120 days from the day of the disbursement, you must:
- Submit a written notification indicates that you are requesting to cancel portion or all of your loan to the Financial Aid & Scholarship Office
- Return the funds to the Business Office
Disbursements for the Pell Grant Program will be adjusted if enrollment is less than full-time. Supplemental disbursement generates throughout the academic year. Disbursements will be adjusted if enrollment increases or decreases. Payment for late starting classes will not be issued until the class begins. After the second disbursement run date of the Fall and/or Spring semesters, no further award adjustments will be made. The following chart is an example of a financial aid disbursement schedule.
|Award Name||Award Amount||Estimated Disbursement Schedule|
|Pell||$5,815||Fall: Sept.= $1,453.75, Nov.= $1,453.75|
|Spring: Feb.= $1,453.75, April= $1,453.75|
- This is to advise you that any outstanding institutional debt will be deducted from your financial aid disbursement.
- New financial aid students will receive yours MyLaccdCard upon submission of you financial aid application to the Financial Aid & Scholarship Office and enrollment through the Admission Office. You must activate your MyLaccdCard at https://mylaccdcard.vibeaccount.com/ by choosing your refund preference through Bank Mobile Vibe. All of your financial aid disbursement will be deposited into this card.
- In the event that there is an issue that caused your MyLaccdCard becomes inactive, or your financial aid funds becomes undeliverable, Bank Mobile Vibe will return the funds to the campus and reissue through the next disbursement process. If your financial aid funds cannot be delivered for a period six (6) months from the date of issue, it will be cancelled. If we are unable to reach you, funds will be returned to the appropriate agency, and you will forfeit/lose your financial aid funds for that award period.
- You may only receive financial aid at one institution at a time.
- Students may not receive federal aid for remedial coursework beyond 30 units.
- In accordance with Federal Refunds & Repayment Regulations, if you completely withdraw from all of your classes after receiving your financial aid, you may be required to repay all or a portion of the unearned financial aid you received. Failure to repay these funds will result in the loss of future financial aid at any institution.
- If you decide for whatever reason to audit a class, you are not eligible to receive a Board of Governors Fee Waiver or any other financial aid for this course. You are solely responsible for the payment of the audited class. No exceptions to this policy can be made.