… Financial Aid Disbursements & Refunds … Financial Aid Disbursements & Refunds … College ID source_2 Content Financial Aid - Disbursements & Refunds (UC) Disbursements are financial aid funds applied to your student account. Disbursement is a technical term used by the financial aid department. The financial aid department disburses … direct educational cost. Once your direct educational cost are paid, the financial aid department “refunds” the credit balance to you. Disbursement dates and deadlines are determined by Federal, State, District and/or institutional regulations …