Direct Deposit: Get Ready for Faster Refunds starting March 2025!
We are excited to announce that direct deposit is available for financial aid refunds through our partnership with Nelnet. This new service offers a faster, safer, and more convenient way to receive your financial aid.
Why Choose Direct Deposit?
Faster Access
Funds are deposited directly into your bank account as soon as the posted Disbursement Date!*
*Depending on your banks processing time
Secure & Reliable
Reduce the risk of lost or stolen checks.
Convenient
No need to wait for mail delivery.
How to Enroll
Enrolling in direct deposit is quick and easy! We have created a step-by-step guide to walk you through the process. This guide includes detailed instructions and helpful screenshots to ensure a smooth setup experience.
Access the guide here: Step-by-Step Direct Deposit Enrollment Guide
Pro Tip: Make sure your pop-up blocker is turned off when accessing Nelnet through MyPalomar!
Important Information
- You must have a valid U.S. checking or savings account to enroll.
- If you don’t enroll in direct deposit, you’ll continue to receive paper checks by mail. Requesting In-person check pick up at Palomar College will no longer be an option for Pell, FSEOG, CalGrant, Federal Direct Loans, & Emergency Aid. The check will be mailed directly from Nelnet (our third-party processor)
- Direct Deposit Refunds will be processed through Nelnet according to our Disbursement Schedule.
- Be sure to keep your banking information up-to-date to avoid delays.
- ALL students (regardless of residency classification) must be physically present in the state of California to be eligible for federal financial aid. For more information on how your physical presence in California impacts your aid eligibility, please refer to our Out-of-State vs. In-State information page.
Frequently Asked Questions
You must have a U.S. checking or savings account. International bank accounts are not permissible.
Preferably yes, the student’s legal name should match the bank account name. However, you can use any U.S. bank account to which you have legal access and permission to use for receiving funds.
Funds are deposited directly into your bank account as soon as the posted Disbursement Date depending on your banks processing time
Absolutely! Nelnet uses encrypted, secure systems to protect your data.
Update your information online at least 2 business days before disbursement date.
At this time, only Federal Pell Grant, Federal Supplemental Educational Opportunity Grant (FSEOG), Cal Grant, Federal Direct Loans, Emergency Aid.
At this time, Scholarships, Extended Opportunities Programs and Services (EOPS), Student Success Completion Grant (SSCG), & other Stipends cannot be direct deposited.
The amount you receive will vary depending on the disbursement schedule and your eligibility for financial aid. After all tuition, fees, and other charges are paid, any leftover funds will be disbursed to you via direct deposit.
No, not all students receive disbursements. Only students who are eligible for financial aid and have a credit balance on their account after all Palomar College charges are paid will receive funds. The disbursement schedule and individual financial aid packages determine the timing and amount of any refunds.
Enrolling in direct deposit is quick and easy! We have created a step-by-step guide to walk you through the process. This guide includes detailed instructions and helpful screenshots to ensure a smooth setup experience.
Access the guide here: Step-by-Step Direct Deposit Enrollment Guide
Pro Tip: Make sure your pop-up blocker is turned off when accessing Nelnet through MyPalomar!
Need Help?
For questions regarding how to set up your direct deposit account, contact the Cashiers Office at 760-744-1150 Ext 2114 or email cashiers@palomar.edu.
For questions regarding financial aid and disbursement information, contact the Financial Aid Office at 760-744-1150 Ext 2366 or email finaid@palomar.edu.
Get started today and enjoy the benefits of Direct Deposit!
