Financial Aid Disbursements
Once you are awarded financial aid, we begin disbursing the Thursday before each quarter, with the exception of Summer, which is always July 1 or later. After that, we will disburse daily throughout the quarter (except weekends/holidays). If the quarter has already started and you are eligible for that quarter, we will disburse funds to you within 3-5 business days once we have determined your eligibility. Loans may take a few days longer due to certification or other requirements.
We will always apply your financial aid awards to tuition and college housing balances on your account first and then disburse any remaining funds to you.
All funds are disbursed through BankMobile after 1 p.m. the day of disbursement. You will need to select your disbursement preference with BankMobile prior to the disbursement so there is no delay in getting your funds. For more information about BankMobile, visit this link: http://bankmobiledisbursements.com/how-it-works/.
Unfortunately, ctcLink does not reflect the actual real date of disbursements in the Financial Aid tile, just the pre-programmed days, if you completed your file before the Financial Aid deadline. Please refer to the Finances Tile for actual dates. Please contact cashiers for your questions about account details. Cashiers phone 425.640.1563 or email at email@example.com.
2021-22 Disbursement Schedule:
This is the date we will begin sending funds to BankMobile for those that are awarded and are enrolled for the quarter listed.
Note About Direct Loans
Loans may be delayed due to certain requirements. It typically takes 5-7 days to certify your loans once you are awarded for the funds to be available to disburse for that quarter. If you are a first year student (less than 45 credits towards your program at Edmonds) and a first time Direct Loan borrower, you will have to wait 30 days into the first quarter you are eligible for loans to receive your first disbursement. If you are requesting a loan for only one quarter, your disbursements will be split in two disbursements. The first disbursement will go out at the beginning of the quarter or once your loan is certified (unless you are a 30 day hold), and the second will go out at mid-quarter.
First time/First Year Borrowers – 30 Day Hold Dates
This is the date we will begin the calculation of your disbursement. Funds will be sent to BankMobile within 1-2 business days of this date.
Mid-Quarter Disbursement Dates (1-Quarter loans)
This is the date we will begin the calculation of your 2nd disbursement. Funds will be sent to BankMobile within 1-2 business days of this date.
How Do I Apply For A Direct Loan?
- Be enrolled in 6 credits or more
- Complete the Loan Request form
- Complete the online Entrance Loan Counseling session – required if this is your first time to take out a Direct Loan at Edmonds College.
- Sign the Master Promissory Note (MPN) online using your FSA ID if this is your first time to take out a Direct Loan at Edmonds College.