Disgruntled students expressed their disappointments and complaints to social media, such as the Citrus College Students Facebook group as their recent financial aid disbursement arrived a few days later than May 18, the date that was listed on the Citrus College website. However, Citrus College has implemented a system that would provide a solution to one of many students’ problems — money not coming in time.
Starting in the fall 2018 semester, students may now receive their financial aid disbursement by direct deposit through a company called BankMobile Disbursements.
BankMobile Disbursements is the company that local community colleges such as Mount San Antonio, Chaffey and Rio Hondo partnered with to provide students with the options to receive their financial aid in a shorter time than receiving their aid by mail.
How it works is that every student that is eligible to receive financial aid such as the Pell Grant will receive a green envelope in mail. That is known as the “Refund Selection Kit.” Inside will be a unique code and instructions to activate a student’s refund preference on the website RefundSelection.com.
There are three choices a student can make:
- They can obtain their financial aid through BankMobile Vibe, a digital-only checking account which provides a Debit MasterCard®.
- They can choose for their financial aid to be directly deposited to their own bank accounts. (So if a student already has a Chase Bank or Bank of America account, the aid would be sent to those accounts. The student would not have to make a Vibe account.)
- They can opt into paper checks if they desire to.
Students can expect their Refund Selection Kit in the mail starting on July 27, the Citrus College FInancial Aid Office said in a email sent to students on June 1.
The Citrus College Clarion had published an editorial in 2017 titled, “Financial Aid: The High Price of Playing the Waiting Game,” which explained the need for a direct deposit feature for financial aid disbursements to counteract possible issues such as acquiring funds too late or losing the check.
Amy Cruz, a student in the Registered Dental Assisting program, was one of the many students that receive the Pell Grant through their mailbox.
“I didn’t mind receiving it through the mail, but this second disbursement came in late and I almost freaked out because I thought I wouldn’t have money to pay for summer,” Cruz said. “I don’t know why it came late. Usually it comes in on time.”
Textbooks is one of the largest expenses for students and for Cruz, the campus bookstore is the last area for her to buy her books.
“I won’t lie, definitely not in the bookstore.” Cruz said. “I have to ask my mom if she can lend me money and I’ll pay her back with the FAFSA. I get the books cheaper on Amazon or offer up on the Facebook page for Citrus students.”
On the other hand, Khayla Lara, a kinesiology major said that she has not encountered any issues receiving her financial aid. Lara said that due to her involvement with the EOP&S program, she receives grant money to buy her textbooks.
The addition of the system leaves some students skeptical, but overall optimistic.
“Well it is the first time and I’m kind of nervous because what if the direct deposit doesn’t go through as ‘planned’ but at the same time I’m kind of glad because now I don’t have to go to the bank to deposit the check,” Cruz said.
“I think it will be a good idea because you will check that your money is there. I know some people would want a direct deposit,” Lara said.
