Students who are eligible to receive Pell will receive three disbursements in the primary terms (Fall and Spring) and two disbursements in the summer. All winter units will be added to the spring term for disbursement purposes. Students who are eligible to receive Cal Grant, Student Success Completion Grant, FSEOG and Chafee Grant will receive one disbursement in the primary terms. If you are eligible to receive financial aid you will need to select a 'refund option' in order to process your Fall, Spring and Summer disbursements.
You will receive a bright green packet to the address you have on file with COD from BankMobile, with detailed instructions on how to choose one of the (2) disbursement methods. You can choose one of the following options in the refund selection process:
Deposit to an Existing Account
Money is transferred to an existing account the same business day BankMobile receives funds from our school. Typically, it takes 1 – 2 business days for the receiving bank to credit the money to your account.
Deposit to a BankMobile Vibe Checking Account
If you open a BankMobile Vibe checking account (upon identity verification), money is deposited the same business day BankMobile receives funds from our school.
Once you receive your Financial Aid Disbursement Notification from BankMobile, you can expect to receive your refund based on the method that you selected.
For primary terms, students’ Pell grants will be disbursed in three parts – 34% of that term’s eligibility at the 1st disbursement, 33% of the term’s eligibility at the 2nd disbursement and the remaining 33% in a 3rd disbursement at the 60% point of the semester. Students, who are added late to a course or have late starting classes, will be paid once that course begins. Students initially awarded after the 3rd disbursement will receive 100% of that term’s eligibility. For summer, student’s Pell grants will be disbursed in two parts—50% of that term’s eligibility at the 1st disbursement at the beginning of the semester and 50% of their remaining eligibility at the 60% mark. The disbursement schedule will share the college’s Pell disbursement dates.
A credit will be pre-authorized if you are a CA resident, awarded a Pell Grant, enrolled at least half-time (6 units), to purchase books and supplies through the COD Bookstore. To learn more information, please review College of the Desert’s Book and Supplies Preauthorization.