Find out what a disbursement is, how you can find out your eligibility and how to select a refund method.
What is a Disbursement
Disbursement is when Financial Aid orders funds for eligible students.
To be eligible, you must:
- Be enrolled in classes
- Have turned in all requested financial aid documents so your file can be verified
- Resolve any problems that we’ve e-mailed you about or that appear on mySierra
Fall disbursements will be available to eligible continuing students after all summer grades are posted.
View Fund Disbursement Dates
Selecting a Refund Method
Financial Aid (grants, federal student loans, and scholarships) will be used to pay for any fees, such as enrollment and health fees. If your financial aid is more than the total amount of fees, you will be refunded the difference. To receive the refund, please select a refund method with BankMobile.
Choose One of These Refund Methods:
- Direct deposit
- BankMobile VIBE Account
The debit card for the BankMobile VIBE account will be mailed to the address you currently have in mySierra.
Anytime you are due for another financial aid disbursement, your new financial aid will be deposited to the BankMobile VIBE account, so remember to keep the debit card.
As with any debit card, you must be aware of some of the hidden fees, so be sure to read the terms and conditions.
Sign up for the BankMobile VIBE Account and You Can:
- Transfer your balance into a bank account from the BankMobile website
- Make purchases anywhere MasterCard is accepted
- Withdraw money at no charge from the ATMs on campus
If you select direct deposit, your financial aid will be automatically deposited into your bank account.
- If you do not sign up for direct deposit or a BankMobile VIBE account, you will receive a paper check in the mail. Checks will take an additional 14 days after your financial aid is disbursed.
- All checks are mailed to you by BankMobile and will be sent to your address in mySierra. Be sure to keep your mailing address current by updating your information on mySierra.
- Cash your check immediately. The check will be canceled 90 days after the date on the check.
Each college and university must publish any third-party contracts. View the BankMobile contract here.