All LBCC financial aid is disbursed through Higher One. This company’s only business is disbursing financial aid for colleges and universities. Before your financial aid is disbursed, you’ll receive a debit card in the mail from them. To receive your financial aid you must “activate” the card.
You have two options. One is to open a no-fee “One Account” with Higher One (some exceptions may apply, see website https://www.higheroneaccount.com/studentaccount/printablefeeschedules.do for additional information). This choice allows you to have instant access to your financial aid when it arrives at Higher One through the debit card or checks. Higher One maintains an ATM machine at each campus for your use without charge. The other option is to have the money transferred by Higher One to your own bank account through an ACH. It takes a couple of days longer but it gives you the convenience of using your own bank account. Either choice must be made online when you receive the card. Details and instructions arrive with the card.
Federal Pell Grant
Students will receive 50% of their actual award amount in their first disbursement and 50% at midterm based on enrollment at the time of disbursement.
Federal Supplemental Educational Opportunity Grant (FSEOG)
Requires minimum half-time enrollment (6 units) and is disbursed in two equal disbursements based on availability of the funds.
Cal Grants are disbursed in a single disbursement made several weeks after the start of classes. The amount you receive is based on your units: 6-8 units=50%, 9-11 units = 75%, 12 units = 100%.
If you have been awarded a Fall/Spring loan you’ll receive one disbursement per semester of 50% of the loan. The first loan disbursements are made to Higher One several weeks after the first week of classes each semester.
If you’re receiving a Spring loan you’ll receive one disbursement at the beginning of the semester and the other at midterm.
If you’re receiving a loan for the first time at LBCC federal regulations don’t allow us to authorize the first disbursement of your loan until 30 days after the start of classes. It will arrive at Higher One about 10 business days later.
*See Programs and Using Your Student Center for more information.