Financial Aid Disbursement Schedule
What does the freeze date mean?
On the last day to add classes each semester, the Financial Aid Office calculates the units you are enrolled in 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 winter/spring 2024, student have until 11:59 p.m. on February 11, 2024 to add/drop classes to count toward financial aid.
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.
What if I miss the disbursement dates on the schedule?
The dates listed on the disbursement schedule are the earliest possible date that a student can receive that type of aid. Disbursements are processed weekly after that date to pick up any newly eligible students. What might affect or delay your disbursement dates:
- Completing tasks late: if your file is completed after the 1st disbursement date, your funds should be disbursed to you two Fridays after you complete your file.
- Enrolling in late-start classes: we cannot pay for late-start units until you start attending that class.
- You need to submit a SAP appeal: if you are disqualified for SAP, you’ll need to submit an appeal. If approved, you’ll receive your funds two Fridays after your appeal is approved (if the date falls after the dates posted on the schedule).
What happens if I enroll in late-start classes?
Your initial disbursement may be less if you are enrolled in any late-start classes. The Financial Aid office pays for your late-start units on the second Friday from the date the late-start class(es) begin.
How do I know if I will receive a Financial Aid Award?
Your award eligibility can be viewed in myGateway under the “financial aid awards” section. You must have a completed file and be in Good Standing or Warning in order to receive financial aid. For more information, please refer to the Satisfactory Academic Progress (SAP) policy.
Please note: If you are repeating a course, financial aid is only granted and paid for the same class twice (cannot pay for a third attempt) – however, the fee waiver (CCPG) will still cover the $46/unit cost of the course.
What happens if I withdraw from my 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.
How do I select my Refund Preference?
After you have registered for classes and been awarded financial aid, you will be sent instructions from BankMobile Disbursements on how to select a refund preference. You may also log in to myGateway, click on the Student Tab, and then scroll down and on the right-hand side there is a BankMobile link under the Student Refund Disbursement section.
Once you select your refund preference, it will remain active as long as you attend Cypress College. If you ever wish to change your preference, you can access and manage your profile at www.RefundSelection.com.
If you need Customer Support, please visit bankmobilevibe.com/contact-us/.
Can I receive financial aid for winter intersession?
Cypress College offers one-month winter intersession online classes, and financial aid is available to eligible students. Financial aid is limited to one school per semester. Winter intersession disbursements are considered part of spring semester. Students are ineligible to receive spring aid at another institution if they receive winter disbursement at Cypress College.
Winter/Spring 2024 Disbursement Schedule
*Students have until 11:59 p.m. on February 11, 2024 to add/drop classes, after this, students will be locked in at those units for financial aid purposes.
When will I receive my financial aid?
Financial aid disburses at different points throughout semester. Please review the disbursement schedule for disbursement dates for each semester (fall, spring, and summer). In order for your financial aid to disburse on time, make sure all of your requirements are completed in myGateway at least 2 weeks before the start of the semester.
For Winter/Spring 2024:
- If you’ve been awarded Pell Grant, the first 50% will be disbursed on February 2, 2024. The second 50% will be disbursed on March 22, 2024.
- If you’ve been awarded CAL Grant, FSEOG, or SSCG, 100% will be disbursed on February 23, 2024.
- If you’ve been awarded loans, 100% will be disbursed on March 8, 2024 (except spring-only students).
- If you are taking winter courses, aid will disburse on December 29, 2024. Get more information about winter disbursements.
If your file is completed after the date(s) you see on the schedule, you can expect your disbursement about 2-3 weeks after your file has been completed. Please note that all disbursements typically arrive on Fridays by end of business day (not in the morning). If you’re having funds transferred to your bank account, it may take an additional 1-2 business days for funds to reach your account.
What about the CCPG?
The California College Promise Grant (CCPG) is a fee waiver that does not disburse to students. It remains in the student’s account to waive the enrollment fees as they register for courses.