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… 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 federal and state aid (Pell, … to open an account will receive their funds electronically via their selected AB540 Refund Preference refund preference with BankMobile. All others will receive their refunds by paper check delivered to the mailing address on file with Admissions & Records. It is critical that all students update the mailing address on file with the Admissions & Records Office to ensure receipt of their …