SF College Releases Statement on Financial Aid Disbursement Delays
Santa Fe College sent the following email to students on Thursday to address the delays in getting financial aid distributed:
The college recognizes and deeply regrets that some students are facing financial hardships associated with delayed financial aid payments. We are pleased to report that the disbursement of student financial aid is making steady progress, and students will continue to see updates to their accounts. Please remember that financial aid processing is ongoing throughout the semester. We encourage all students to regularly check their financial aid portals for updates.
This addresses the more common questions students are having currently.
Why didn’t I receive all of my aid?
Currently aid is being released according to the type of funding source. If a student has aid from multiple funding sources, such as a federal, state and a local scholarship, it is possible that aid will be received in multiple deposits at different times.
When can I expect my refund?
It generally takes 1 to 3 business days for the funds to be deposited into student accounts once they reach BankMobile. The amount of time that it takes for each file to process and be sent to BankMobile differs for each case. Each file must be reviewed and approved for completeness and accuracy before any funds can be released into student accounts. This is done to protect students and ensure that students are not under-awarded or over-awarded, which could result in having to pay back funds. While this does take time, the College has brought in additional resources to help that process move more quickly.
I have never had a problem before; why am I having problems now?
In the Fall, Santa Fe College implemented a new state-of-the-art financial aid processing
system to address federal processing changes. The process of integrating the new system with the college’s current system presented multiple unexpected challenges when the systems failed to interact appropriately. The College has made significant progress resolving the implementation issues and has engaged additional expertise to get the issues resolved more quickly and accurately. Moving forward, we anticipate that the new system will accommodate evolving federal regulations and streamline the student experience.
What is the college doing to support students facing hardships?
The College is working hard to assist any student experiencing hardship. Emergency aid has been made available to help students mitigate resulting problems. Emergency aid may be used to assist with housing, utilities, transportation, and/or childcare. Students who need emergency aid should apply at https://www.sfcollege.edu/student-affairs/emergency-aid/#financial. Additionally, the college has temporarily lifted restrictions in recognition of the impact of financial aid delays. Students who previously received emergency aid may be eligible to receive additional funding.
Why do emergency funds go to landlords and others instead of me?
Emergency aid funds are directed to landlords and other service providers to ensure they are used for essential student needs such as housing, utilities, transportation, and childcare. This approach helps the College verify that the funds are meeting the most pressing needs directly. When students apply for funds, they'll be asked to provide documents like rental agreements or utility bills to demonstrate their needs. While the college does not disburse funds directly for food, we invite you to visit the Saints Food Share Pantry, which is available to support students facing food insecurity.
