All grants, loans and scholarships are electronically credited to a student’s account and can be applied toward the student’s tuition and fees, book and dorm charges. Students do have the option to decline to electronically credit their account with their book charges. The student may also provide written authorization to charge minor prior year institutional charges of $200 or less or any other educationally related cost to their financial aid account. Grant, scholarship, and loan balances will be disbursed by the Business Office within 30 days after the beginning of the semester. Grant, scholarship, and loan balances for students enrolled in the second compressed semester (Fall II, Spring II and Summer II) will be disbursed within 30 days after the beginning of that semester. As per federal regulations, Direct Loans are issued to students in multiple disbursements. Generally, this means students will receive equal portions of their loan each semester, except if their loan is only one semester in length. If one semester, then generally the loan will be split into two disbursements in that semester. Also, as per federal regulations, the first disbursement of a student loan to a first-year, first-time borrower, must be held for at least 30 days.
Exact disbursement dates will be posted on the VC Financial Aid web page. The Business Office disburses balances at least twice monthly. Financial aid balances will be placed on the student’s Chaparral Card unless the student has designated a different direct deposit account. Students who do not have a Chaparral Card or who do not designate a direct deposit account will be mailed a check. Any financial aid will first be applied to the balance due Vernon College before being issued to the student. Students must meet all enrollment and eligibility requirements in order to receive financial aid. Students who fail to establish eligibility (do not begin attendance in each class or do not attend classes through count day) will have their financial assistance reduced or cancelled.
Students employed through the work-study program are paid twice monthly. Time sheets must be submitted on the appropriate dates each month in order to receive a paycheck. Students, who fail to submit their time sheets by the designated date, will not receive payment until the following pay period.
Please allow 24-48 hours for your direct disbursement to process to your account.
Fall
September 16, 2022 – All Fall and Fall
I loans (excluding first year, first time borrowers), grants, &
scholarships will be disbursed
September 23, 2022-All Fall and Fall I loans for first year, first time borrowers will be disbursed
October 21, 2022- Semester Only loans second disbursement
October 28, 2022 – Fall II loans (excluding first year, first time borrowers), grants, & scholarships will be disbursed
November 11, 2022- Fall II loans for
first year, first time borrowers will be disbursed and Semester only
loans second disbursement
December 16, 2022- December Mini loans, grants, & scholarships will be disbursed