When does my money arrive?

Your award letter will include a Financial Aid Disbursement Date. This is the date, typically the first day of the quarter, when your financial aid funds are "disbursed," which means they are deposited into your student account at De Anza.

This money will be applied first to any outstanding charges that you owe to the college. The remaining money will then be “refunded” to you.  Our school delivers your refund with BankMobile Disbursements, a technology solution, powered by BMTX, Inc. Visit this link for more information: https://bankmobiledisbursements.com/refundchoicessso/.   

To view our third-party servicer contract for refund management, click here.

Upcoming Refund Dates

The major Pell grant refund dates for Spring 2023 are listed below. Funds will be available via BankMobile Disbursements.

Spring 2023 Quarter

Friday, April 14th, 2023

Friday, May 26th, 2023

Direct Loan first time borrowers will see a 30-day delay in the release of their first loan disbursement. The refund will be issued the week after that 30-day period. Students with a 30-day delay can visit https://bankmobiledisbursements.com/refundchoicessso/ for information on when you will receive your refund

Direct Loans for continuing students will be disbursed the Monday after the add/drop (census date) period ends, which will be April 24th, 2023.  For information on when you will receive your refund through BankMobile Disbursements, visit this link: https://bankmobiledisbursements.com/refundchoicessso/.

Cal Grants and Student Success Grants will be disbursed the first Tuesday after the add/drop(census date) period ends. For information on when you will receive your refund through BankMobile Disbursements, visit this link: https://bankmobiledisbursements.com/refundchoicessso/. For the Spring quarter, the disbursement date is Tuesday, April 25th, 2022, with the refund expected on Friday, April 28th, 2023.

Some things to remember

Funds are generally “disbursed” to your student account on a Monday and “refunded” the following Friday. In order for this to occur

  • You must be approved for and awarded Financial Aid.

  • You must be enrolled in the required number of units at least one week before the quarter starts.

  • You must be in good standing, warning or probation status for Satisfactory Academic Progress. (You should not be disqualified.)

If you have not received your refund on the scheduled date, please check your Satisfactory Academic Progress status on MyPortal, under the Financial Aid tab.

Adjustments or reverse disbursements may occur if you increase or reduce the number of units in which you are enrolled, or if you are subject to a “Return of Title IV” repayment.

If all courses enrolled in are considered late start, or mid-quarter starts, the 30 day delay is in effect from the start of courses.  The late start courses also have a census date, at which time we will evaluate Pell grant eligibility.

If you are getting a grant: The amount of grant money you receive will be determined by your Expected Family Contribution and your enrollment status – either full-time (12 or more units), three-quarter time (nine to 11.5 units), half-time (six to 8.5 units) or less than half-time (less than six units).

If you are getting a loan: You must be enrolled in at least six units to receive loan funds.

For more information: Visit the Federal Student Aid website

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