Receiving Your Funds
How are financial aid funds disbursed?
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 and has accepted awards.
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.
Students must accept their grant award under their "Student Center". 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 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:
- Return all requested documents to the Financial Aid Office at CSUMB.
- Accept the Subsidized/Unsubsidized Loan offer under your "Student Center".
- Complete the Direct Loan Master Promissory Note (MPN).
- Complete the In Person Loan Entrance Counseling (all first-time borrowers at CSUMB only).
- Be enrolled in the appropriate number of units for half-time status (6 for Undergrad/Teaching Cred; 4 for Master’s level).
- Be on good Satisfactory Academic Progress standing.
Federal work-study awards
Students in approved work-study positions are paid monthly for hours worked. The student must submit a time sheet to the employer by the 23rd of each month so that the student can receive a check on the 15th of the following month. Students should discuss specific payroll procedures with their employer.
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 Lead Financial Aid Counselor Ashlie Mccallon
Lead Financial Aid Counselor 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.
Who can answer further questions about financial aid?
For specific questions about your financial aid visit the Financial Aid Office located on the 3rd floor of the Student Services Building or call the office at (831) 582-5100.
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.
- Not promptly accepting the financial aid award.
- Not completing a Direct Loan MPN.
- Not completing the In-Person Loan Entrance Counseling.
- Not meeting the minimum requirement for enrollment: 4 units for Master's students, 6 units for all other 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.
Who can answer further questions about refunds?
For specific questions about refund disbursements visit the Financial Aid Office located on the 3rd floor of the Student Services Building or call the office at (831) 582-5100.