How To Set Up Direct Deposit As Your Refund Method
The IVC Financial Aid Office disburses financial aid funds to eligible IVC students in coordination with the Student Payment Office and Touchnet. Financial aid disbursements will be applied to any outstanding balances, and any excess balance will be refunded directly to the student.
Touchnet offers two different refund methods to receive financial aid funds, if eligible:
- Your bank account via ACH direct deposit.
- E-check to print and deposit.
Students are highly encouraged to sign up for direct deposit. If direct deposit is not set up, students will be provided with a printable e-check by default.
How To Set Up Direct Deposit As Your Refund Method
Follow the directions below to set up Direct Deposit via ACH in Touchnet:
- Log into New MySite and locate the “My Account Balance” card
- Click on "View Student Account"
- If you have never logged into Touchnet before, follow the prompts to:
- Opt-in or Opt-out of optional fees and provide financial responsibility consent
- Enter your preferred contact information to set up how you receive notifications from Touchnet
- Set up a Refund Method by clicking the “Set up new account” button and entering your account information
- If you are returning to the Touchnet system:
- Click on “Electronic Refunds”
- Set up a Refund Method by clicking the “Set up new account” button and entering your account information on the page
Students are highly encouraged to sign up for direct deposit. If direct deposit is not set up, students will be provided with an e-check by default, which will be sent to the student’s school email address.
All e-checks will expire 90 days after the issue date. If your electronic check has expired, it is your responsibility notify the Financial Aid office to request reissuance of funds. Otherwise, funds will be returned to the appropriate state, federal, or institutional agencies.
Disbursement Dates and Deadlines
Fall
Listed below are the Fall term financial aid disbursement dates and deadlines for eligible students who have completed their financial aid file, have been awarded financial aid, have met Satisfactory Academic Progress (SAP) for the Fall term, and are enrolled in classes that have already started. If you enroll in late-start classes, those units will not be considered in your financial aid disbursement until after the classes begin.
Financial aid funds are released on specific dates throughout the semester. If you see a financial aid fund listed next to a date, that is the earliest possible date that award can be disbursed.
- Freeze Date: September 9, 2026 at 11:59 pm
- Loan Request Deadline: November 23, 2026
- SAP/MTF Appeal Deadline: November 30, 2026
- Consortium Submission Dates: September 10, 2026 – December 1, 2026
Disbursement Date | Financial Aid Fund |
August 21, 2026 | 1st half of Pell Grant |
September 4, 2026 |
|
September 18, 2026 | Cal Grants, FSEOG |
October 2, 2026 | Direct Loan |
October 16, 2026 |
|
November 6, 2026 | 2nd half of Pell Grant, SEOG |
November 20, 2026 |
|
December 11, 2026 |
|
Spring
Listed below are the Spring term financial aid disbursement dates and deadlines for eligible students who have completed their financial aid file, have been awarded financial aid, have met Satisfactory Academic Progress (SAP) for the Spring term, and are enrolled in classes that have already started. If you enroll in late-start classes, those units will not be considered in your financial aid disbursement until after the classes begin.
Financial aid funds are released on specific dates throughout the semester. If you see a financial aid fund listed next to a date, that is the earliest possible date that award can be disbursed.
- Freeze Date: February 10, 2027 at 11:59 pm
- Loan Request Deadline: May 3, 2027
- SAP/MTF Appeal Deadline: May 3, 2027
- Consortium Submission Dates: February 11, 2027 – May 4, 2027
Disbursement Date | Financial Aid Fund |
January 22, 2027 | 1st half of Pell Grant |
February 5, 2027 |
|
February 19, 2027 | Cal Grants, FSEOG |
March 5, 2027 | Direct Loan |
March 19, 2027 |
|
April 16, 2027 | 2nd half of Pell Grant, SEOG |
April 30, 2027 |
|
May 21, 2027 |
|
Financial Aid Freeze Date
Students have until 11:59 pm on the freeze date to register for classes to have those units considered towards their enrollment status. Classes added after the freeze date will not be considered towards a student’s enrollment status for financial aid purposes. Pell Grant disbursements are divided into two payments each term. Changes in enrollment status before the freeze date may affect disbursement amounts.
Keep in mind regarding the freeze date:
- Waitlisted classes are not considered towards enrollment status.
- Be sure to add late-start classes before the freeze date. If added afterwards, these units will not be considered towards your enrollment status.
- If you drop units before the freeze date, you may not be eligible for a second Pell grant disbursement or may owe back the financial aid that you have already received. Please contact the Financial Aid Office before dropping any classes.
- If your instructor reports you as a no-show or if you drop a course before the start date, those units will not be considered towards your enrollment status. Your financial aid may be adjusted accordingly, even if the freeze date has already passed.
Semester | Freeze Date |
Fall 2026 | September 9, 2026 at 11:59 pm |
Spring 2027 | February 10, 2027 at 11:59 pm |
Delayed Financial Aid Disbursement for Satisfactory Academic Progress (SAP) Warning, Probation or MTF Probation Status
Disbursement will be delayed for students with a SAP status of Warning, Probation, or (Maximum Time Frame) MTF Probation. All grades from the previous semester must be posted and academic standing calculated prior to disbursement. Tentatively, the earliest possible disbursement date for these students is the end of the fifth week of the semester.
Students on Probation or MTF Probation must pass all of their enrolled courses with all ‘C’s or better to continue receiving financial aid – no ‘W’, 'EW', ‘FW’, or other unsatisfactory grades. All students must maintain a 2.0 GPA and complete 67% of their enrolled coursework to continue receiving financial aid. For more information, visit Satisfactory Academic Progress. Satisfactory Academic Progress.
Delayed Financial Aid Disbursement for Online Students
Students enrolled in online courses at 51 may be required to complete Academic Engagement Verification. This delayed disbursement policy applies to first-semester IVC students and returning IVC students who have not successfully completed any prior coursework. Students who are required to complete Academic Engagement Verification must demonstrate active academic engagement in all enrolled courses, including any late start classes, in accordance with the federal definition outlined in 34 CFR 600.2.
Students required to complete Academic Engagement Verification will experience a delay in receiving their first financial aid disbursement until their Verification is approved.
To help prevent financial aid fraud, students who are required to complete Academic Engagement Verification must visit the Financial Aid Office in person and provide two forms of identification:
- Signed Social Security card
- Valid U.S. government-issued photo ID, such as a state driver’s license or passport
This delayed disbursement policy does not apply to continuing IVC students who have successfully passed courses in prior semesters 51.
Drops, Withdrawals, and No-Shows
Students withdrawing from all of their classes before the published freeze date for each semester may owe federal aid funds back to the U.S. Department of Education. Additionally, students dropping below half-time on or before the freeze date may owe a Federal Pell Grant overpayment.
If your instructor reports you as a no-show or if you drop a course before the start date, those units will not be considered towards your enrollment status. Your financial aid may be adjusted accordingly, even if the freeze date has already passed.
Please contact the Financial Aid Office before dropping any classes.
Repeating Classes
Once a letter grade of “D” or better has been earned in a course, a student may receive financial aid for only one additional (second) attempt of the same course, regardless of the grade earned for the second attempt. Repeated classes also count against Satisfactory Academic Progress, which is taken into consideration when determining eligibility for financial aid.
Loans
Federal direct loans are disbursed once each semester, with the disbursement taking place at least 30 days into each term. Refer to the disbursement schedule above to see the date loan disbursements begin for each semester.
Consortium Agreement
An unofficial transcript is needed from the host college prior to any disbursements being made. Funds for subsequent terms will not be released until the final official transcript is submitted to IVC. Refer to the Consortium Agreement for more info.
Units enrolled at other institutions and submitted to IVC through a Consortium Agreement do not count toward SSCG and FSEOG eligibility. Due to limited funding, only units enrolled 51 and Saddleback College will be used to determine SSCG and FSEOG eligibility.