Disbursement of Funds

The first disbursement of financial aid (grants, federal student loans, and scholarships) to eligible students will be one week after the add/drop deadline. For students who apply or complete their files after the add/drop deadline, financial aid is usually ordered once a week. Orders are done early Monday morning and direct deposit is usually completed by Friday evening of that week. New debit cards and paper checks will take much longer since they must be mailed to the students by Sallie Mae Business Solutions.

Pell Grants are paid based on the units you are enrolled in at the end of the add/drop period for the semester. Check the academic calendar for the add/drop deadline. You cannot be paid for any units you add after the deadline.

Federal Direct Student Loans are issued in two disbursements. If your loan covers Fall and Spring, your second disbursement will be available the third week of the Spring Semester as long as you are eligible and are enrolled in 6 or more units. If your loan covers only one semester, your second disbursement will be available after the withdraw deadline has passed as long as you are still enrolled in 6 or more units. Check the academic calendar for the withdraw deadline.

If you are a first-time, first-year borrower, Federal regulations require that you wait until 30 days after the semester has begun to receive your first disbursement. For information about the second disbursement, read the previous paragraph.

Scholarships are issued in two disbursements – half for Fall and half for Spring.

If you are attending Sierra College and are enrolled in the number of units required for your scholarship, sign up for direct deposit, debit card, or paper check.

If you are attending a four-year college/university, you must send an enrollment verification from that college to the Sierra College Financial Aid Office. Enrollment verifications are required for the Fall semester/quarter and the Spring semester/quarter. After we receive your enrollment verification, a scholarship check made out to you will be sent to your college.

High schools and organizations such as Rotary Clubs and Foundations usually send scholarship checks that are made payable to the Sierra College Financial Aid Office. If you are enrolled at Sierra in the number of units required for your scholarship and you meet all other criteria set by your donor, sign up for direct deposit, debit card, or paper check.

Cal Grants and Chafee Grants are disbursed after Sierra College receives the money from the State of California. Because of California’s current budget problems, we do not know when Cal Grant and Chafee money will be available.

Fall, Spring and Summer financial aid order dates are listed below. These are the dates Sierra College orders financial aid money – NOT the dates you will receive it. If you have already signed up for direct deposit or have been issued a Sallie Mae Debit MasterCard®, your money should be available by the end of the week that it was ordered. New debit cards and paper checks will take much longer since they must be mailed to you by Sallie Mae Business Solutions.