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Financial Aid

Disbursement of Funds

Financial Aid funds are disbursed to students accounts during the first two weeks of the semester. Disbursement will only happen if the student has a complete file.

All funds in excess of any university charges, such as registration fees or housing charges, are refunded to the student via Direct Deposit. All students are encouraged to sign-up for Direct Deposit through the university’s eRefund process. If not signed up for Direct Deposit, a refund check will be mailed after the second Friday of the start of the semester.

Grants

Grant funds will be automatically accepted for all students.  Grant funds will be disbursed and applied to any outstanding balance with the University. Excess funds will be issued via choice selected (eRefund or check).

Federal direct Stafford loans

Loan funds must be accepted at the discretion of the student, through the CSUMB Dashboard.  Grants will be disbursed and applied to any outstanding balance with the University. Excess funds will be issued via choice selected (eRefund or check). In order for your Direct Stafford Loan to disburse, you must complete the following requirements:

  1. Return all requested documents to the Financial Aid Office at CSUMB.
  2. Accept the Subsidized/Unsubsidized Loan offer under your "Student Center".
  3. Complete the Direct Loan Master Promissory Note (MPN).
  4. Complete the In Person Loan Entrance Counseling (all first-time borrowers at CSUMB).
  5. Be enrolled in the appropriate number of units for half-time status (6 for Undergrad/Teaching Cred; 4 for Master’s level).
  6. Be on good Satisfactory Academic Progress standing.

Federal work-study awards

Students in approved work study positions are paid monthly for hours worked. Students should discuss specific payroll procedures with their employer.

Scholarships

You are required to notify the Financial Aid Office of any scholarships you are receiving, including those awards issued by academic departments as well as awards you receive payment of directly. We must include this funding with your other financial aid award(s). If necessary, we may adjust other awards.

Students who receive scholarships from their high school or community groups should have their funds sent directly to our Scholarship Coordinator, Ashlie McCallon

Associate Director, Ashlie McCallon

100 Campus Center

Seaside, CA 93955

CSUMB will then disburse the funds directly to the student based on the donor's instructions. All outstanding University charges must be settled before the funds can be released.

What delays disbursement of funds?

The following are reasons why the student's funds may not be available on the first day of classes:

  • A late application submitted after the March 2, priority deadline.
  • Missing documents or incomplete file.
  • You have not accepted your financial aid offer on your Oasis account.
  • Not completing a Direct Loan MPN.
  • Not completing the online Loan Entrance Counseling.
  • Not meeting the minimum requirement for enrollment: 6 units for Undergraduate, 4 units for Master's students.
  • Not meeting Satisfactory Academic Progress Policy.
  • Unresolved University charges.
  • Being in default on a student loan or owing a repayment to any Title IV financial aid program.