Students with existing bank accounts are encouraged to sign-up for Direct Deposit or have the option of signing up for the SMCCCD Disbursement Prepaid Card. Students are strongly encouraged to select one of these two options and avoid the added risk of loss or theft when receiving paper checks by mail.
Financial Aid Disbursement Process
All financial aid funds are disbursed on scheduled dates each term. Federal grant aid (Pell Grant, Supplemental Educational Opportunity Grant) disburses twice each term with 50% of the scheduled award being disbursed on or after each scheduled date based on the student's enrollment level and program eligibility. Federal Direct Loans are also disbursed in two payments based on the approved loan period. Cal Grant funds are disbursed in a single payment each term on the second scheduled disbursement date of the semester. To check disbursement schedules, click here.
Deduction of Fees
Financial Aid (grants, federal student loans, and scholarships) will first be used to reduce current institutional debt you owe to College of San Mateo, Cañada College, or Skyline College such as enrollment fees, health fees, and nonresident tuition. If your financial aid is more than the amount owed, you will be paid the remaining balance.
During the enrollment process, students will be provided with two options to choose their preferred method for receiving their financial aid or scholarship funds from their college; either direct deposit (also called ACH) to their existing checking or savings account or having their funds loaded onto the SMCCCD Disbursement Prepaid Card.
The Financial Aid Offices at College of San Mateo, Cañada College, and Skyline College provide students with with electronic financial aid disbursement services through Money Network® under a multi-year contract negotiated between the San Mateo County Community College District and Blackboard. The contract,addendum, and cash management report are available for public inspection.
How to Enroll for SMCCCD Direct Deposit (ACH Transfer)
It may take up to a week to validate your direct deposit account number. While this process is pending, if you have a financial aid refund, it will be mailed to you in a paper check.
How to Enroll for SMCCCD Disbursement Prepaid Card
SMCCCD Disbursement Prepaid Card Benefits
To learn more about the SMCCCD Disbursement Prepaid Card features & benefits, please visit www.mycampusfunds.com.
If you do not choose one of the two funding options, your funds will be sent to you by paper check. Paper checks may take up to an additional 7 to 10 days after your financial aid funds are disbursed.
All checks are mailed to the student and will be sent to your address in WebSMART. Please know that if you have more than one address type, the Mailing Address has priority and will be used instead of the Legal Address. It is your responsibility to ensure your address information is correct at all times.
Note: Paper checks are not only the slowest method for you to receive your funds but also the least secure due to the risk of loss, theft and fraud. Sign up to receive your funds electronically.
Students with questions or needing assistance should contact the Cañada College Financial Aid Office.