… Content Financial Aid - 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 … 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 …