Disbursement Information | Financial Aid Office
Financial Aid

Disbursement Information

After students are awarded their financial aid, they will receive an email notification from the Financial Aid Office directing them to create an account with Nelnet. Students must make a disbursement selection; otherwise, there will be delays in receiving their refunds.

Please note, that the fastest means of receiving a refund is through the electronic transfer of funds to your personal checking or savings account.

Fall 2021

​Disbursement # for Term ​Disbursement Date ​Funds Included
​1 ​Thursday, August 26 Pell Grant
​2 Friday, September 10 Pell Grant
​3 Thursday, September 23 Pell Grant
​4 Thursday, October 7 Pell Grant and Direct Loans
​5 Thursday, October 21 Pell Grant (second half), Direct Loans and FSEOG
​6 Thursday, November 4 All, (includes Pell Grant, Cal Grant, Direct Loans & SSCG)
​7 Wednesday, November 17 All
​8 Thursday,, December 16 All

Spring 2022

​Disbursement # for Term ​Disbursement Date ​Funds Included
​1 ​Friday, January 21 Pell Grant
​2 Thursday, February 1 Pell Grant
​3 Thursday, February 17 Pell Grant
​4 Thursday, March 3 Pell Grant and Direct Loans
​5 Thursday, March 17 Pell Grant (second half), Direct Loans and FSEOG
​6 Friday, April 1 Pell Grant, Direct Loans and SEOG
​7 Thursday, April 14 All (includes Pell Grant, Cal Grant, SSCG & Direct Loans)
​8 Thursday, May 28 All

Summer 2022

​Disbursement # for Term ​Disbursement Date ​Funds Included
​1 ​Friday, June 3 Pell Grant
​2 Thursday, June 16 All (includes Pell Grant, Direct Loans)
​3 Thursday, June 30 All
​4 Thursday, July 14 All (includes second-half of Pell Grants)
​5 Thursday, July 28 All

Financial Aid Freeze Date

Students have until 11:59 pm on the freeze date to register for classes considered towards their enrollment status. Units added after this date are not considered towards enrollment used to determine Pell Grant eligibility. Pell Grant disbursements are divided into two payments each term; changes in enrollment status before the freeze date may affect disbursement amounts.

Semester

Freeze Date

Fall 2021

Wednesday, October 6th

Spring 2022

Wednesday, March 2nd

Summer 2022

Wednesday, June 29th

Keep in mind regarding the freeze date:

  • Waitlisted classes are not considered towards enrollment status.
  • Be sure to add late-start classes before the freeze date. If added afterwards, these units will not be considered towards enrollment status.
  • If you drop units before the freeze date, you may not be eligible for a second Pell grant disbursement.

Students on Satisfactory Academic Progress (SAP) Warning, Probation or Monitor Status

Students with a SAP status of Warning, Probation, or Monitor will not be paid until the 3rd disbursement at the earliest. Grades from the previous semester must be posted and academic standing calculated prior to disbursement.

Students need to maintain a 2.0 GPA and complete 67% of their enrolled coursework to continue receiving financial aid. View more information on Satisfactory Academic Progress here.

Scholarships

A thank you card to your donor(s) must be submitted to the Financial Aid Office before check(s) can be issued. Scholarship checks for current IVC students will be mailed at the end of July. Make sure to update your mailing address on MySite or with Admissions & Records. You will be notified by email when your check is mailed.

If you are awarded an Osher Scholarship, your scholarship will be issued in two payments, one in Fall 2020 and the other one in the Spring 2021 semester. Your check will be available by September 18, 2020, (and the week of February 15, 2021 for Spring 2021), as we have to verify enrolled units. You must be enrolled at a minimum of 6 units and have the California College Promise Grant (formerly known as the BOG Fee Waiver).

ESL and Basic Skills Courses

Students can be paid for up to 30 units of enrolled coursework in ESL or Basic Skills courses. After 30 units are completed, ESL or Basic Skills courses are not factored into enrollment status used to determine eligibility for financial aid disbursements.

Drops and Withdrawals

Students withdrawing from all of their classes before the published freeze date for each semester may owe federal aid funds back to the U.S. Department of Education. Additionally, students dropping below half-time on or before the freeze date may owe a federal Pell Grant overpayment. 

Always consult with the Financial Aid Office before dropping ANY classes or withdrawing for the term.

Pell Grant Recalculation Date

Pell Grants are not adjusted for enrollment for students (up or down) on or after October 29, 2020 for Fall 2020, April 1, 2021 for Spring 2021, and July 16, 2021 for Summer 2021. Please plan accordingly and register early.

Cal Grants

Cal Grants are disbursed once per semester after census. As Cal Grants are disbursed once per term, no adjustments are made after disbursement. Please be sure to enroll full-time in order to receive maximum funding.

Loans

Loans are disbursed once each semester, with the disbursement taking place 30 days into each term, typically on the third disbursement.

For more details, please contact the Financial Aid Office.