… - Disbursements & Refunds (UC) … Disbursements & Refunds … Disbursements are financial aid funds applied to your student account. Disbursement is a technical term used by the financial aid department. The financial aid department disburses federal and state aid (Pell, Sub, Unsub, PLUS, Cal Grants, etc.) to your student account to pay for your direct educational cost. Once your direct educational cost are paid, the financial aid department … visit BankMobile Refund Choices BankMobile Refund Choices . AB540 Students AB540 students who currently have an open bank account or are eligible to open an account will receive their funds electronically via their selected AB540 Refund Preference …