Disbursement

Financial aid money is distributed to eligible students through a process called disbursement. Learn what’s involved.

Financial aid disbursement is a payment made to students to refund the cost of tuition and living expenses, with the total amount of aid dependent upon your enrollment status and eligibility. You receive your financial aid according to the semester's disbursement schedule, typically as a set of two payments – one at the start of the term, and one half-way through.

Disbursement Schedule 2023-24 (pdf)

Enrollment Requirements

Unit checks are done approximately two weeks before each disbursement date.

CalGrant and Direct Loan recipients must be enrolled at least half-time, or 6 units, in an approved academic program.
Remaining in classes is important; if you drop classes that you received funding for, you may be asked to repay those funds.

What may cause a disbursement delay?

Changes to your FAFSA or Admissions applications, including changing your home college location, are likely to cause delays to your financial aid eligibility and disbursements. Disbursement dates are contingent upon funding and are subject to change without notice.

MVC delivers your refund with BankMobile Disbursements, a technology solution, powered by BMTX, Inc. Information on how to make that choice will be sent once your financial aid application is processed and your award letter sent. Change your refund preference at any time by logging into your BankMobile Disbursements profile.

View our third-party servicer contract for refund management.

Keep your address up to date

If you need to change your address, update it on WebAdvisor or with the Admissions and Records office first. Your address must be marked as "Preferred Mailing" in order to be valid. Then, you will need to update your address with BMTX, Inc by logging into your BankMobile Disbursements profile.