Southwestern College

SUMMER 2016 FINANCIAL AID DISBURSEMENT SCHEDULE

BankMobile -Southwestern College has partnered with Bank Mobile (formerly Higher One®) to offer students a secure and flexible method to receive their financial aid funds. Students may choose to have funds automatically deposited to a current checking account, open a BankMobile account or receive a paper check. Students may also change their deposit method choice at any time. All students must have a deposit method choice on file for fund disbursement.

New students will receive a bright green envelope from BankMobile 3-5 days after they are awarded financial aid. Once it arrives, simply follow the instructions to choose a deposit method. It is important to complete this process as soon as possible to ensure there is not delay in receiving funds! 

Continuing students will continue to receive funds from SWC as they have in the past. However, students may always change their deposit method choice at any time.

Federal Pell Grant


The summer 2016 term (6/6/16-8/7/16) will be considered a cross-over period and assigned exclusively to the 2015-16 award year.  The 9 week (beginning 6/6/16 and 8 week (beginning 6/13/16) will be combined and treated as one term.  Full-time enrollment will be defined as 12 credits.

New and continuing students who want to be considered for the summer 2016 term would be required to complete a 2015-16 FAFSA by the June 30, 2016 deadline and submit all requested documentation.

Students cannot exceed 100% of their annual 2015-16 Pell Grant eligibility, including the summer term.  Only students who have not previously used all their annual Pell eligibility will be considered for summer eligibility. Please see example below and percentage of yearly eligibility used each term:

Fall 2015 (Pell paid)

Spring 2016 (Pell paid)

Summer 2016 (Pell eligibility)

$2,823.00 (50%)

$2,822.00 (50%)

0.00
(enrolled 3 credits,
no Pell eligibility remaining)

$2,823.00 (50%)

$1,411.00 (25%)

$1,412.00 (25%)
(enrolled in 6 units, maximum remaining Pell eligibility)

$1,412.00 (25%)

$2,822.00 (50%)

$1,411.00 (25%)
(enrolled in 9 units,maximum remaining Pell eligibility)

0.00

$2,823.00 (50%)

$2,822.00 (50%)
(enrolled in 12 units, maximum Pell eligibility remaining)

All summer Pell awards are pending review and must meet all Federal financial aid requirements.

Students must meet the 2015-16 financial aid satisfactory academic progress standards calculated at the end of the spring 2015 term.  Disqualified students would not be eligible for the summer 2015 financial aid term (excluding BOGFW) and financial aid appeals if approved will be effective summer 2015.

Transfer students will be reviewed for remaining Pell eligibility, and students who were not enrolled for fall 2015 and spring 2016 at Southwestern College will require Transfer Monitoring.

Calculating remaining eligibility for transfer students:

1)  Pell disbursed at prior school (/) Scheduled award at prior school (=) % of scheduled award used

2)  Subtract % of scheduled award used from 100% (=) Remaining % of scheduled award available

Pell award cutoff date:

7/9/16

Disbursement Date:

Week of 7/25/16


IMPORTANT INFORMATION   

  • Disbursement dates are estimates and are subject to change without notice and will occur on or after the estimated disbursement dates listed
  • All awards are contingent upon institutional receipt of funds from the federal and/or state government and are subject to change.

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Last updated: 4/28/2017 10:14:09 AM