Financial Aid Disbursement

Determining Your Payment Date:
Financial aid is disbursed to your IVC student account according to the current year disbursement schedule. Pell Grant funds are disbursed in three payments. Cal Grants and SEOG are disbursed in a single payment.

To see the 2018-19 Disbursement Schedule click here. The "Payment Date" is the date funds will be available on the IVC Debit Card. This is approximately one week after funds appear on your account in WEBSTAR.

Determining Your Payment Amount
Your payment amounts for all programs are based on enrollment status. The table below provides the enrollment status based on enrolled units.

Enrollment   Status

Units

Full-time

12   or more

¾-time

9   to 11.5

½-time

6   to 8.5

Less   than ½-time

.5   to 5.5


Financial aid disbursements will be based on your enrollment status which is determined as of a set date each semester, known as the "freeze date".  If you add units after these dates you will not receive an increase, the only exception is if you were waitlisted for a course by the freeze date.  If you submit your FAFSA after the semester freeze date has passed, your enrollment status will be determined when we receive your valid FAFSA data.  You must begin all of your courses, if you are removed from the class roster as a a no sho, your enrollment tatus will be adjusted and you may be required to return funds.

Enrollment status can be adjusted for students due to Satisfactory Academic Progress standards. For example, you may be limited to specific courses as part of condition of your appeal. Basic skills and repeat course limitations may also reduce your enrollment status for financial aid purposes.

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Pell Grant: This grant is paid in three payments throughout the Fall and Spring semesters.  Two payments are made for Summer session for eligible students.

The table below provides sample payment amounts for a student that is eligible for the maximum Pell Grant.  Check your student account in WEBSTAR to determine your actual payment amounts.

One Semester Pell Grant Disbursements – Example Only

Enrollment Status

First Disbursement

Second Disbursement

Third Disbursement 

Semester Total

Full-time   (12 or more units)

$762

$762

$1524 

$3048

¾-time   (9 to 11.5 units)

$572

$571

$1143 

$2286

½-time   (6 to 8.5 units)

$381

$381

$762 

$1524

Less   than ½-time (.5 to 5.5 units)

$191

$190

$381 

$762

 


SEOG: You must be enrolled at least half-time (6 or more units) to be eligible for SEOG Funds. The amount will be prorated for less than full-time status and paid in one payment each semester.

One Semester SEOG Disbursement – Example Only

Enrollment Status

Disbursement

Full-time   (12 or more units)

$200

¾-time   (9 to 11.5 units)

$150

½-time   (6 to 8.5 units)

$100



CAL GRANT: You must be enrolled at least half-time (6 or more units) to be eligible for Cal Grant funds. The amount will be prorated for less than full-time status and paid in one payment each semester.

The table below provides sample payment amounts for a student that is eligible Cal Grant B.

One Semester Cal Grant B Disbursement – Example Only

Enrollment Status

Disbursement

Full-time   (12 or more units)

$836

¾-time   (9 to 11.5 units)

$627

½-time   (6 to 8.5 units)

$418

 

Student Success Completion Grant: You must be enrolled full-time and eligible for a full-time Cal Grant to qualify. Enrollment status is determined on the date SSCG is authorized to your account. The SSCG payment is up to $649 for 12 to 14.5 units per semester and up to $2000 for 15 or more unites per semester.

Work-Study: Work-Study is paid monthly based on the hours worked the previous month and verified by your supervisor. See the Work-Study webpage for more information. 


Financial Aid Refunds and the IVC Debit Card:
At the time grant funds are posted to your account, any fees owed will be deducted and the remaining amount is considered a financial aid refund. To determine the amount see the Account Summary by Term section in WEBSTAR. Refunds may be deposited to your personal bank account or to the IVC Debit Card. Use the following link to make your disbursement choice:

https://www.enroll.moneynetworkedu.com

COMING UP!
BankMobile for future disbursements. Click here for more information


If you do not choose the direct deposit or debit card option, any refund due to you will be sent via check.  Checks will be mailed to your current mailing address as listed in WEBSTAR.  Please note that it is not necessary to enroll at moneynetworkedu.com to get your financial aid funds.

Please note that receipt of an IVC debit card does not guarantee eligibility for a refund.

For more information about the IVC Debit card please visit our MyCashCard webpage at: http://mycashcard.imperial.edu/

For information on how to manage your financial aid funds wisely visit http://www.cashcourse.org