Financial Aid Refund Policy
Are you looking for Business Services?
If you are requesting a refund for fees paid click HERE.
What Does Financial Aid Refund mean?
Refund is the process of turning your financial aid offer into a payment. You must meet all eligibility requirements in order for the Student Financial Services Office to request a refund of funds.
IMPORTANT: Refunds are based on the number of units you are officially registered for at the time of calculation and is as follows:
Full-Time: 12 units of more 100%
Three-Quarter Time: 9-11.5 units 75%
Half-Time: 6-8.5 units 50%
If you drop or add units during the semester there will be a recalculation of funds.
You may be subject to repaying your financial aid funds if you drop a class or drop
all of your classes. It is your responsibility to review Financial Aid Terms of Agreement.
These grants are disbursed in two (2) payments per semester.
- Your Pell payment will be calculated based upon your enrollment status (full-time, three-quarter time, half-time, less than half-time) at the time of refund. Dropping to less than half-time by the 2nd refund date will require you owe back all or part of your first refund. If you drop all units before 60% of the semester is completed, you may owe a repayment of your Federal Pell award according to the Return of Title IV Funds Regulation.
- The Cal Grant is disbursed in one payment each semester. The Cal Grant payment will be based upon your enrollment status at the time of the calculation and refund. You must maintain at least half-time (6 approved units) enrollment to be eligible for payment.
- The FSEOG is disbursed in one payment each semester. You must maintain at least half-time (6 approved units) enrollment to be eligible for payment.
- Students must be accepted into the MJC Nursing Program to be eligible for these funds. Awards are made on a first-come, first-served basis, according to file complete date. Loans are disbursed in one payment each semester, for a maximum of four semesters.
NO FUNDS will be disbursed until ALL student’s academic progress has been evaluated for Satisfactory Academic Progress (SAP)!
If you are on a Wait List, funds will NOT be sent until the course has been added and class has begun. This also applies to late-start classes that begin after the first date of the semester.
If you do not meet eligibility requirements, including SAP standards, until after the first refund, payments will be made throughout the semester as eligibility requirements are met.
How Are Refunds Disbursed?
Modesto Junior College has partnered with BankMobile to deliver your financial aid refund. For more information about BankMobile, visit this link: http://bankmobiledisbursements.com/refundchoices/.
To view our Institution's contract with BankMobile, a Division of Customers Bank, click here.