Disbursements and BankMobile

Disbursement Information:

Frequently Asked Disbursement Questions

  1. How do I know if I am eligible for any financial aid?

    • Once your financial aid file is complete, you’ll receive an award letter via email that breaks down your financial aid eligibility.
    • If you are a continuing student and your file is already completed, check your myGateway account for your eligibility.
    • You must track your status in myGateway and submit all requested documents to complete your file. Any changes to your application or file may result in a delay to the awarding process, which would delay your disbursement.
  2. What does the “Freeze Date” mean?

    • The Financial Aid Office calculates the units you are enrolled in on the last day to add classes each semester to determine your eligibility for state and federal financial aid. The last day to add classes each semester is referred to as the “freeze date” in the Financial Aid Office. For example, for Fall 2020, students have until 11:59pm on September 7th to add/drop classes.
    • Financial Aid will only pay for units you are enrolled in as of the freeze date, there are no exceptions – this includes waitlisted and late-start classes. You must be enrolled in all of your units for financial aid purposes prior to the freeze date. Students will not be paid for classes added after the freeze date.
  3. What happens if I enroll in late-start classes?

    • A late-start class is a class that begins after the first week of the semester.
    • Your initial disbursement may be less if you are enrolled in any late-start classes. The reason for this is that we cannot pay a student aid until they have actually started attending the class.
    • The Financial Aid Office usually pays for your late-start units on the 2nd Friday from the date the late-start class(es) begin.
  4. What if I missed the first disbursement date on the Disbursement Schedule?

    • In order to be considered for the first payment (first Friday of classes), students must have a completed and reviewed file with the financial aid office at least one week before school starts. If you complete your file anytime after that, your disbursement (if eligible) will typically be about 2 Fridays after your file is completed.
    • If you are a continuing student and your file is already completed, check your myGateway account for your eligibility.
    • You must track your status in myGateway and submit all requested documents to complete your file.
    • Any changes to your application or file may result in a delay to the awarding process, which would delay your disbursement.
    • Another factor that could affect your disbursement date is if you are enrolled in any late-start classes (refer to question 3 above).
  5. What happens if I drop a class or withdraw from all classes?

    • If you drop units prior to the freeze date, you may be required to repay back all or a portion of your aid received. This occurs because financial aid awards are adjusted up and down based on your units enrolled until the freeze date. If you drop units before the freeze date, you may not be eligible for the second disbursement if you are receiving a Pell grant.
    • NOTE: If you withdraw from all of your classes, you may be required to repay all of the financial aid you received for the semester. A hold may also be placed on your record until repayment is made.
  6. What about the CCPG (California College Promise Grant) – will I get any of those funds disbursed to me?

    • The CCPG does not disburse out to students in the form of cash. It is a fee waiver that remains in the student’s myGateway account to waive the enrollment fees as the student registers for classes throughout the year.

BankMobile

Cypress College has partnered with BankMobile to deliver your financial aid refund. For more information about BankMobile, visit: https://bankmobiledisbursements.com/refundchoicessso/.

To view our institution’s contract with BankMobile, a Division of Customer Bank, click here.

How do I select my refund preference?

Did you know… you can now select your refund preference directly through myGateway? No personal code needed!

To select your refund preference:
1. Go to:  mg.nocccd.edu
2. Click on the Student link (on the left hand side)
3. Under the Student Refund Disbursements Channel: click the BankMobile icon

Once you have selected a refund preference, it will remain active as long as you attend Cypress College. If you ever wish to update/change your preferences, you can access and manage your account at www.RefundSelection.com. If you need Customer Support, they can be reached 7 days a week at 1-877-327-9515 from 5 a.m. to 8 p.m. Pacific Time.

What if I have an existing BankMobile account from another school?

If you have a BankMobile account setup from Fullerton College, you can use that same account for Cypress College! If the account was created for any other school – you’ll need to set up a new account with a different email address.

I see I have an award, but BankMobile is telling me there’s an error and I can’t set up my refund preference?

There could be a few different reasons why you’re not able to set up your account:

  • If you are only eligible for the CCPG (California College Promise Grant / fee waiver) – you will not be able to set up a BankMobile account since these funds do not get disbursed to you.
  • If you haven’t registered for classes yet – in order to create your account you must have two things:
    1. You must have an award (such as Pell grant, Cal Grant, Loans, etc.)
    2. You must be registered for classes. Please wait about 24 hours after registering for your classes, then you should be able to set up your BankMobile refund preference.