Financial Aid Payment

 

Determining Your Payment Date:
Financial aid is paid to your IVC student account according to the current year payment schedule. Pell Grant funds are paid in three payments. Cal Grants, SEOG and Student Success Completion Grant are paid in a single payment.

To see the 2019-20 Payment Schedule click here. The "Payment Date" is the date funds will be available on the IVC Debit Card. This is approximately one week after funds appear on your account in WEBSTAR.

Determining Your Payment Amount
Your payment amounts for all programs are based on enrollment status. The table below provides the enrollment status based on enrolled units.

Enrollment   Status

Units

Full-time

12   or more

¾-time

9   to 11.5

½-time

6   to 8.5

Less   than ½-time

.5   to 5.5


Financial aid payments will be based on your enrollment status, which is determined as of a set date each semester, known as the "freeze date".  If you add units after these dates you will not receive an increase, the only exception is if you were waitlisted for a course by the freeze date.  If you submit your FAFSA after the semester freeze date has passed, your enrollment status will be determined when we receive your valid FAFSA data.  You must begin all of your courses, if you are removed from the class roster as a no show, your enrollment status will be adjusted and you may be required to return funds.

Enrollment status can be adjusted for students due to Satisfactory Academic Progress standards. For example, you may be limited to specific courses as part of the condition of your appeal. Remedial and repeat course limitations may also reduce your enrollment status for financial aid purposes.


Pell Grant: This grant is paid in three payments throughout the Fall and Spring semesters.  Two payments are made for Summer session for eligible students.

The table below provides sample payment amounts for a student that is eligible for the maximum Pell Grant.  Check your student account in WEBSTAR to determine your actual payment amounts.

One Semester Pell Grant Payments – Example Only

Enrollment Status

First Payment

Second Payment

Third Payment 

Semester Total

Full-time   (12 or more units)

$775

$774

$1,549 

$3,098

¾-time   (9 to 11.5 units)

$581

$581

$1,161 

$2,323

½-time   (6 to 8.5 units)

$388

$387

$774 

$1,549

Less   than ½-time (.5 to 5.5 units)

$194

$194

$387 

$775

 

SEOG: You must be enrolled at least half-time (6 or more units) to be eligible for SEOG Funds. The amount will be prorated for less than full-time status and paid in one payment each semester.

 

One Semester SEOG Payments – Example Only

Enrollment Status

Payment

Full-time   (12 or more units)

$200

¾-time   (9 to 11.5 units)

$150

½-time   (6 to 8.5 units)

$100



CAL GRANT:
You must be enrolled at least half-time (6 or more units) to be eligible for Cal Grant funds. The amount will be prorated for less than full-time status and paid in one payment each semester.

The table below provides sample payment amounts for a student that is eligible for Cal Grant B.

One Semester Cal Grant B Payments – Example Only

Enrollment Status

Payment

Full-time   (12 or more units)

$836

¾-time   (9 to 11.5 units)

$627

½-time   (6 to 8.5 units)

$418

 

Student Success Completion Grant: You must be enrolled full-time and eligible for a full-time Cal Grant to qualify. Enrollment status is determined on the date SSCG is authorized to your account. The SSCG payment is up to $649 for 12 to 14.5 units per semester and up to $2000 for 15 or more units per semester.


Work-Study:
Work-Study is paid monthly based on the hours worked the previous month and verified by your supervisor. See the Work-Study webpage for more information. 

Financial Aid Refunds: At the time grant funds are posted to your account, any fees owed will be deducted and the remaining amount is considered a financial aid refund. To determine the amount see the Account Summary by Term section in WEBSTAR. Refunds may be deposited to your personal bank account or to the BankMobile Vibe account. If you have been awarded, you may use the following link to make your disbursement choice:

www.refundselection.com 

Please note that making a refund choice does not guarantee eligibility for a refund.

For information on how to manage your financial aid funds wisely visit http://www.cashcourse.org