Learning about Disbursements
When you qualify for financial aid, you might get payments called “disbursements” or “refunds.” These payments usually begin the week before classes start each semester.
Here’s what you need to know about disbursements
- Will my financial aid be applied to an outstanding account balance first?
Most of your financial aid will be used to pay for balance on your student account, like mandatory state and campus fees. - What happens to leftover money?
After all your charges are covered, any leftover financial aid is sent to you. - Chafee Grant exception
Chafee Grants are handled differently and may not follow the same process. - How can I utilize my financial aid?
Some grants are disbursed to you directly through BankMobile to use at your discretion for educational and living expenses: - Financial aid types that does not get disbursed are:
Some grants are applied towards your tuition and fees automatically and others are paid/disbursed based on the work or community service completed.- CA College Promise Grant
- MiraCosta Promise
- Federal Work-Study (pays monthly based on hours worked)
- Dream Service Incentive Grant (pays based on community service hours or volunteer work)
Enrollment Requirements
Here are some basic rules about enrollment as it relates to financial aid:
Do I need to take 12 units?
Nope! You don’t need to be enrolled full-time. However, if you take less than 12 units, your aid may be reduced or even canceled based on grant rules. For example:
- Pell Grant and the Federal Supplemental Grant are the only aid you can receive if you're enrolled in fewer than 6 units (half-time).
- The following types of financial aid do required that you are enrolled in 12 units:
- MiraCosta Promise
- Student Success Completion Grant
- What happens if I make changes to my schedule?
Adding or dropping courses may impact your aid. If you find it necessary to drop some of your classes, you may be required to return all or a portion of the financial aid you’ve received. If your financial aid has not been disbursed and you add or drop a class, your financial aid will be adjusted. If your financial aid has been disbursed and you add or drop a class before the add/drop deadline, your financial aid will be adjusted. If your financial aid has been disbursed and you add or drop a class after the add/drop deadline, there will be no change to your financial aid. - Are all of my courses eligible for financial aid?
No! All the classes you take must be included on your educational plan or be required for your major to keep your aid. Contact an Academic Counselor to update your educational plan if needed. Learn more about our Academic Counseling services. Learn more about maximizing your financial aid. - Enrollment Deadline: Students must be enrolled by the financial aid enrollment deadline to receive their grants. Learn more about maximizing your financial aid.
Dropping and Withdrawing
Dropping or withdrawing from classes may decrease your financial aid and may even require you to pay back some or all of your grants.
Factors that are considered when a student drops or withdraws from a class are:
- The amount of time you spent in the class (the date the class started and the date you dropped the course)
- Whether you participated in the class (attended a class or submitted assignments) and the last date of participation.
- You can visit the Welcome Center in Building 14 for more information.
We highly recommend you contact the Welcome Center if you are thinking about dropping a course to see how this may impact your financial aid. Additionally, you should meet with an Academic Counselor to discuss your academic plan moving forward.
How your Enrollment Impacts your Pell Grant
Your Pell grant eligibility is based on the number of units you are registered in. Your eligibility will be based on something called enrollment intensity.
What is Enrollment Intensity
Enrollment intensity is a percentage that shows how many units you are taking compared to a full-time course load. This percentage will determine how much Pell Grant money you can get. Your award will be based on the number of units you’re taking.
The chart below applies only to the Federal Pell Grant. Other financial aid, like the Cal Grant, will use enrollment categories like full-time, 3/4 time, and 1/2 time. See the chart for details.
Credit Hours | Enrollment Category | Enrollment Intensity |
---|---|---|
12 (or more) | Full-Time | 100% |
11 | Three-Quarter Time | 92% |
10 | 83% | |
9 | 75% | |
8 | Half-Time | 67% |
7 | 58% | |
6 | 50% | |
5 | Less-than-Half-Time | 42% |
4 | 33% | |
3 | 25% | |
2 | 17% | |
1 | 8% |
Pell Enrollment Intensity Chart explained
- Full-Time (12 or more units)
- You get 100% of your Pell Grant.
- This means you get the full amount of money you're eligible for.
- Three-Quarter Time (9–11 units)
- You get 75% to 92% of your Pell Grant.
- This is a little less than the full amount, but still a good chunk!
- Half-Time (6–8 units)
- You get 50% to 67% of your Pell Grant.
- This is about half of the full amount.
- Less Than Half-Time (1–5 units)
- You get 8% to 42% of your Pell Grant.
- This is only a small portion of the full amount.
Remember: The fewer classes (or units) you take, the less money you’re eligible for from the Pell Grant.
If you’re not sure how this affects you, ask the Financial Aid Office for help! Visit the Maximize Your Aid page to learn how to get the most out of your financial aid.
Disbursement Dates
Each grant is disbursed in different increments and at different times of the semester. To receive your disbursements you must submit your FAFSA or CA Dream Act Application, clear holds, complete any required tasks and, submit required documents (if applicable). Processing time will vary based on the task and documents requested. See below for more details.
Steps to determining what date you will receive your aid:
- Student’s Responsibility
First, the student has to have all of the following completed:- Must have the current academic year FAFSA or CADAA submitted
- Must be enrolled by the financial aid enrollment deadline
- Have all financial aid holds removed
- Have all requirements submitted to the Financial Aid Office (check your Tasks in Surf)
- Financial Aid Office Process
After all of the above are completed, the Financial Aid Office will review the documents that have been submitted.- The Financial Aid Office will review and complete the student’s financial aid documents and financial aid file.
- The student’s financial aid amounts may be adjusted based on the documents received. If that is the case the Financial Aid Office will adjust the financial aid amounts after they have reviewed the student's file
- Financial Aid Processing Timeline: The processing timeline of submitted documents varies based on the documents submitted
but on average processing time takes two weeks.
- This timeline will be longer during peak periods (for example during the beginning of the semester).
- Appeals: Income Appeals, Dependency Appeals, and second SAP Appeals will on average take 3-4 weeks.
- If any follow-up information is needed, this will extend the processing timeline.
- Deadline to have all of the above completed
All of the above must be completed at least 10 days before the scheduled disbursement date to ensure the student will receive their disbursement on the scheduled date.
Note: Students enrolled in only late-start classes will not receive their disbursements until their classes have started.
Federal Pell Grant
First 25%
The first 25% amount is for students who have completed all requirements listed above at least 10 days before the listed date. There are multiple dates listed under the first 25%, this is so that each student is disbursed to as soon as they have completed all requirements on their student account. Students will only receive one 25% disbursement and this will be determined by the date all requirements are completed.
Remaining 75%
The remaining 75% amount is for students who have already received a 25% disbursement.
If all of the requirements (listed above) are not completed at least 10 days before any of the first 25% dates, students will receive 100% of their disbursements on the earliest possible disbursement date listed below.
Remaining disbursement dates are intended for students who did not complete all of their requirements by the first 100% date
FALL Disbursement Amount | Disbursement Dates |
---|---|
First 25% | August 16, 2024 August 30, 2024 |
Remaining 75% & Remaining disbursement dates | September 13, 2024 September 27, 2024 October 18, 2024 November 1, 2024 November 15, 2024 December 6, 2024 December 20, 2024 |
SPRING Disbursement Amount | Disbursement Dates |
---|---|
First 25% | January 17, 2025 January 31, 2025 |
Remaining 75% & Remaining disbursement dates | February 13, 2025 March 7, 2025 March 28, 2025 April 11, 2025 April 25, 2025 May 9, 2025 May 23, 2025 |
Cal Grant
If all of the requirements (listed above) are not completed at least 10 days before the first 100% date, students will receive 100% of their disbursements on the earliest possible disbursement date listed below.
Remaining disbursement dates are intended for students who did not complete all of their requirements by the first 100% date
FALL Disbursement Amount | Disbursement Dates |
---|---|
100% | September 13, 2024 |
Remaining disbursement dates | September 27, 2024 October 18, 2024 November 1, 2024 November 15, 2024 December 6, 2024 December 20, 2024 |
SPRING Disbursement Amount | Disbursement Dates |
---|---|
100% | February 13, 2025 |
Remaining disbursement dates | March 7, 2025 March 28, 2025 April 11, 2025 April 25, 2025 May 9, 2025 May 23, 2025 |
Full-Time Student Success Completion Grant
If all of the requirements (listed above) are not completed at least 10 days before the first 100% date, students will receive 100% of their disbursements on the earliest possible disbursement date listed below.
Remaining disbursement dates are intended for students who did not complete all of their requirements by the first 100% date
FALL Disbursement Amount | Disbursement Dates |
---|---|
100% | September 13, 2024 |
Remaining disbursement dates | September 27, 2024 October 18, 2024 November 1, 2024 November 15, 2024 December 6, 2024 December 20, 2024 |
SPRING Disbursement Amount | Disbursement Dates |
---|---|
100% | February 13, 2025 |
Remaining disbursement dates | March 7, 2025 March 28, 2025 April 11, 2025 April 25, 2025 May 9, 2025 May 23, 2025 |
Federal Supplemental Grant
If a student does not complete all of their requirements by the first 100% date, they will receive 100% of their disbursements on the earliest possible disbursement date listed below (please see the grant type to find the earliest dates.
Remaining disbursement dates are intended for students who did not complete all of their requirements by the first 100% date
FALL Disbursement Amount | Disbursement Dates |
---|---|
100% | September 13, 2024 |
Remaining disbursement dates | September 27, 2024 October 18, 2024 November 1, 2024 November 15, 2024 December 6, 2024 December 20, 2024 |
SPRING Disbursement Amount | Disbursement Dates |
---|---|
100% | February 13, 2025 |
Remaining disbursement dates | March 7, 2025 March 28, 2025 April 11, 2025 April 25, 2025 May 9, 2025 May 23, 2025 |
Federal Student Loans
If a student does not complete all of their requirements by the first 100% date, they will receive 100% of their disbursements on the earliest possible disbursement date listed below (please see the grant type to find the earliest dates.
Remaining disbursement dates are intended for students who did not complete all of their requirements by the first 100% date
FALL Disbursement Amount | Disbursement Dates |
---|---|
100% | August 30, 2024 |
Remaining disbursement dates | September 13, 2024 September 27, 2024 October 18, 2024 November 1, 2024 November 15, 2024 December 6, 2024 December 20, 2024 |
SPRING Disbursement Amount | Disbursement Dates |
---|---|
100% | January 31, 2025 |
Remaining disbursement dates | February 13, 2025 March 7, 2025 March 28, 2025 April 11, 2025 April 25, 2025 May 9, 2025 May 23, 2025 |
Scholarships
If a student does not complete all of their requirements by the first 100% date, they will receive 100% of their disbursements on the earliest possible disbursement date listed below (please see the grant type to find the earliest dates.
Remaining disbursement dates are intended for students who did not complete all of their requirements by the first 100% date
Disbursement Amount | Disbursement Dates |
---|---|
100% | August 23, 2024 September 6, 2024 |
Remaining disbursement dates | September 20, 2024 October 11, 2024 October 25, 2024 November 8, 2024 November 22, 2024 December 13, 2024 |
Disbursement Amount | Disbursement Dates |
---|---|
100% | January 24, 2025 February 7, 2025 |
Remaining disbursement dates | February 28, 2025 March 14, 2025 April 4, 2025 April 18, 2025 May 2, 2025 May 16, 2025 |
Receiving Payments & BankMobile
In order to receive a payment of your financial aid, you will need to create a BankMobile profile. BankMobile is a fully online bank MiraCosta has partnered with in order to disburse money to students as quickly as possible. See below for more information on your options for receiving your funds:
Students can change their preference on BankMobile anytime but we recommend students to stick to one preference to prevent any delays with their disbursements.
BankMobile Options
BankMobile refers to these options as "Refund Preferences."
Set up Direct Deposit through BankMobile
- To set up direct deposit to your personal bank account, you will need your account and routing number.
- If you select this option typically your funds are received within 1-2 business days after the disbursement date (or longer, depending on your banking institution).
- This option does not require students to pay BankMobile standard banking fees. However, your bank may have their own standard banking fees.
Open a BankMobile Bank Account
- When you create a BankMobile account you will receive a BankMobile debit card.
- If you select this option funds are deposited the same day they are disbursed with no delays.
- Funds are disbursed on Fridays.
- Sometimes, the funds might not show in your bank account until later in the day, so don’t worry if they don’t appear right away.
- Disclaimer: BankMobile may have standard banking fees.
How to Set Up a BankMobile Profile
- Log in to your SURF account.
- Navigate to the Tasks tile and ensure you are on the To-Do List section.
- Click on the BankMobile tab.
- Follow the guided prompts to set up your BankMobile account and choose your refund selection.
- Additionally, students will need to know their personal information.
If you do not have BankMobile on your TO-Do list, see “Returning Students” below for more information.
Returning Students
If you are returning to MiraCosta College after a period of time of no enrollment, there is a high chance that your BankMobile profile has been deactivated.
If you previously had a BankMobile Profile
Go to bankmobilevibe.com and log in. If you do not remember your username and profile, you can reset it by selecting “forgot login information”. If you have trouble resetting your information, please contact BankMobile.
If you have never set up a BankMobile Profile
Please contact the Welcome Center to get more information about how to activate your BankMobile profile.
Need a personal code? Check below for more information.
If you encounter difficulties setting up your BankMobile profile, please reach out to the Welcome Center at 760.795.6620 or MCCFinAid@miracosta.edu.
BankMobile FAQs
Do I have to open a BankMobile account?
No, you are not required to open a BankMobile checking account. However, you will need to create a BankMobile profile to select your refund preference. You can choose to have funds deposited into your personal bank account instead. First-time college students or students receiving aid for the first time will receive an email from BankMobile usually 1-2 weeks before the first day of school.
Can I receive a check instead of a direct depo
- Students cannot select a check as a refund preference.
- Students can receive it if they are having difficulties with BankMobile but it will take longer to receive it. BankMobile will only issue a check for a student after 21 days of a disbursement being processed and no refund preference was selected
- To avoid delays, ensure your address on file is correct.
What is a Personal Code and Shared Secret?
- Personal Code: Sometimes students need a unique code sent to set up their BankMobile
profile.
- The student can receive a personal code via email. If you cannot find your personal code, contact the Welcome Center to request a new one.
- You do not need a personal code if you set up your BankMobile Profile through your Surf Task list or email.
- If you do not have the task, check your email for any reminders from BankMobile to set up your profile. This will include the information needed to set up your profile.
- Shared Secret: This typically consists of the student's date of birth (mmddyyyy) and the last four digits of their student ID. The shared secret has no spaces or dashes. It may be required during the setup process for verification purposes.
How can I update my refund preference?
- Log in to your BankMobile account at www.bankmobilevibe.com.
- Navigate to Refund Preferences and select "Update Preference."
- Make your new selection. Changes apply to future disbursements only.
How long does it take to receive a debit card or check?
- Debit card: Approximately 14 days after account setup.
- Check: Mailed 21 days after disbursement if no refund preference is selected.
Troubleshooting Address Issues
In order for BankMobile to create a profile for you, they will need to verify that your address is valid. If your address or the format of your address is incorrect, you will not be able to set up a BankMobile profile. This may cause disbursement delays.
- Ensure the address provided in your SURF account is accurate and USPS deliverable (no P.O. Boxes).
- If the address on file is incorrect, update it in your Surf.
- For students who have an address on a military base, your address may not be accepted by BankMobile. If this is the case, please use another address.
Contact the Welcome Center for more assistance.
How can I contact a BankMobile Customer Service?
- Customer Care by Phone: 877.327.9515 from 8AM - 11PM (EST) 7 Days a Week
- Automated Service Line: Available 24 hours a day
Additional Information
Viewing Financial Aid Status
To check the status of your financial aid:
- Log in to your SURF account.
- Navigate to the Financial Aid section.
- Review your awards, pending documents, and disbursement details.
Contact Information
- MiraCosta Financial Aid Office: MCCFinAid@miracosta.edu or 760.795.6620.
- BankMobile Support: Visit BankMobile Support. For more detailed FAQs and guides, visit the BankMobile FAQ Page.