Financial Aid eDisbursement

All financial aid funds are disbursed on scheduled dates each term. Federal grant aid (Pell Grant, Supplemental Educational Opportunity Grant) disburses twice each term with 50% of the scheduled award being disbursed on or after each scheduled date based on the student's enrollment level and program eligibility. Federal Direct Loans are also disbursed in two payments based on the approved loan period. Cal Grant funds are disbursed in a single payment each term on the second scheduled disbursement date of the semester.

Disbursement Option 1: Direct Deposit

To receive your financial aid refund, students are advised to sign up for direct deposit through WebSMART so your refund will automatically be deposited into your bank account. We encourage students to sign up for direct deposit which is the fastest and safest way to receive funds.

  • Fastest method of payment, funds will automatically be deposited into your bank account
  • Log into WebSMART
  • Click the "Financial Aid" Tab
  • Click the "Account Information for Direct Deposit" link
  • Enter your account information as instructed

It may take up to a week to validate your direct deposit account number. While this process is pending, if you have a financial aid refund, it will be mailed to you in a paper check.

To assist students, several local banks and credit unions that have expressed an interest in working with our students reg­­­­ardless of their citizenship status have contact information available at the Financial Aid Office and some have scheduled hours where they will have representatives on campus.

IMPORTANT - If you close your bank account after signing up for direct deposit, you must log in to WebSMART and provide updated information.

Click here for step-by-step directions on how to sign-up for direct deposit

Disbursement Option 2: Paper Check

If you do not sign up for direct deposit, you will receive paper checks in the mail. Paper checks may take up to an additional 7 to 10 days after your financial aid payment has been disbursed. All checks are mailed to the student and will be sent to your address in WebSMART. If you have more than one address type in WebSMART, please know the Mailing Address has priority and will be used instead of the Legal Address. It is your responsibility to ensure your address information is correct at all times. Please cash your check immediately. Should you lose your check, please contact the Financial Aid Office immediately.

Need Assistance?

If you need assistance in setting up Direct Deposit in WebSMART, please attend one of our weekly Financial Aid Application Labs.

2014-2015 Disbursement Schedule:

Fund

Fall 2014

Spring 2015

Summer 2015

Scholarships

Aug. 8

TBD

TBD

Pell Grant and SEOG

Aug. 8 and Sept. 9

Jan. 9 and Feb. 18

June 11 and 22

Cal Grant

Sept. 9

TBD

TBD

Direct Loans

Aug. 8

Jan. 9

June 11

Work-Study: On the 15th of the month after time sheet is approved online

Disbursement Adjustments: Reverse disbursements occur when units enrolled decreases


*Regular refunds occur when:

  • Application is completed prior to start of term, including loan requirements
  • Enrolled in the required number of units at least one week prior to start of term
  • Not subject to disqualification
  • Have no holds

All disbursed financial aid (grants, federal student loans, and scholarships) will be first applied towards current institutional fees you may owe Cañada College, College of San Mateo or Skyline College such as enrollment fees, health fees and nonresident tuition. For the majority of students, your financial aid award is generally more than the amount owed, and you will be paid the remaining balance, commonly referred to as a financial aid refund.


**Direct Loan: 

  • All first time borrowers will be subject to a 30-day delay on their first loan disbursement.
  • The 30-day period begins on the first day of the term, not of the loan application or approval date. 
  • To cancel or reduce your loan amount, you must submit a written request to the Financial Aid Office 15 business days prior to the disbursement.
  • Direct Loan Entrance/Exit Counseling: https://studentloans.gov/myDirectLoan/index.action

 

2014-2015 Loan Deadlines

-Nov 14, 2014 Fall Semester
-April 10, 2015 Spring Semester
-June 25, 2015 Summer Session

2014-2015 Appeal Deadlines

-Nov 14, 2014 Fall Semester
-April 10, 2015 Spring Semester
-June 25, 2015 Summer Session

 

 

 

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