… - 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 … receive their refunds by paper check delivered to the mailing address on file with Admissions & Records. It is critical that all students update the mailing address on file with the Admissions & Records Office to ensure receipt of their …