Federal Pell and Federal Direct Loan Disbursements

All financial aid sources (grants, scholarships, loans) disburse at various times throughout the semester as funds are received. Students are notified by email when funds disburse. Payment of current semester tuition/fee/book charges are paid by the first financial aid funds applied to your student account. For details, review your account activity. For Disbursement/Refund Dates visit: http://www.occc.edu/financialaid/dates.html Dates are subject to change.

Important Disbursement Information

Federal grant and loan funds are awarded to a student under the assumption that the student will attend school for the entire award period. Class attendance is a requirement for Federal Student Aid eligibility. Students must attend and participate in class through the 10th week of 16-week courses or the 5th week for 8-week courses to earn all of their financial aid funds. Students should contact financialaidoffice@occc.edu or their Student Success Advisor before totally withdrawing from all courses in one term.

Refunds

OCCC issues refunds from excess loan/grant/ scholarship funds through a partnership with BankMobile Disbursements. If you are entitled to a refund, BankMobile will send an email notifying you when it has processed. Refunds process in accordance with your selected refund preference. If you have not selected a refund preference, log in to MyOCCC Portal click menu in upper left corner; MyMoney – Refund Preference. Contact bursar@occc.edu for assistance. For more information about BankMobile, visit https://bankmobiledisbursements.com/refundchoicessso/

Pell Grant Disbursements

Pell awards are assessed based on a student’s enrollment at the close of the semester add/drop period. Students awarded prior to this date will be on the first scheduled Pell disbursement. After this date, expect a one-week processing time after being awarded for being on the next Pell disbursement.

Loans Disbursement

Students who have completed Entrance Counseling and Loan Agreement (MPN), are enrolled in at least 6-credit hours, and have accepted their loan by the week prior to disbursement can expect to be on the first scheduled loan disbursement. After this date, expect a one-week processing time after loan acceptance to be on the next scheduled loan disbursement.

First-Time Student-Borrowers - in the first year of their degree program, initial loan disbursements are scheduled at least 30- days after the beginning of the loan period.

One-Term Loans - students receiving a one-term loan for the current semester will receive loans in two disbursements. The second disbursement will be on or after the semester midpoint.

Pell Bookstore Charges

Bookstore charges begin one week prior to the semester begin date and continue through the first week of courses. Eligible students enrolled and awarded for the semester with excess Federal Pell Grant funds after all tuition and fee charges are paid may go directly to OCCC Bookstore with their OCCC Student ID to charge required books and supplies.

Student Loan Bookstore Charges

Eligible students with excess loan funds after tuition/fee charges, who are not scheduled to receive their loan disbursement, may request a loan bookstore voucher from the financial aid office to charge against their loan. An OCCC Student ID is required to charge at the OCCC Bookstore.