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March 2, 2009


Contact:

Peggy Cartwright
Director of Marketing and Public Relations
909/652-6115


For Immediate Release


IMPORTANT INFORMATION REGARDING SPRING 2009 FINANCIAL AID DISBURSEMENTS

The Chaffey College Financial Aid office experienced technical difficulty with the Spring 2009 disbursement that was sent to financial aid students beginning Thursday, February 19, 2009. All disbursements were affected. Given the severity of the situation, we believe that it is important to notify all students of the facts.

1. What or who was affected?
Approximately 4,000 student financial aid disbursements for the Spring 2009 semester were delayed.

2. When were the disbursements delayed?
The Spring 2009 disbursements were released on Thursday, February 19, 2009. The financial aid office was notified of a discrepancy, therefore on Friday 20, 2009 at 9:00 a.m., a delay was placed on all funds.

3. Why were the disbursements delayed?
A technical inaccuracy occurred which affected some of the disbursements. In order to rectify the inaccuracies, all disbursements were delayed.

4. What banking institutions were impacted?
Any bank that a student has identified as an institution to receive Electronic Fund Transfer (EFT) from the Chaffey College Financial Aid office was notified of the delay (i.e. Wells Fargo, Bank of America, Chaffey Credit Union).

5. When will the funds be available?
If you bank with the Chaffey Credit Union the delay was released at 7:00 p.m. on Friday, February 20, 2009. Disbursements at other banking institutions will be available no later than 5:00 p.m. Monday, March 2, 2009.

6. What should I do if I have been charged with a service fee for non-sufficient funds due to the hold?
If you received a service fee for non-sufficient funds, bring a copy of your bank statement to the financial aid office, and you will be reimbursed the fee amount within 24 hours of the request.

7. Am I able to use the financial aid funds now?
All Chaffey College Financial Aid disbursement funds are available as of Monday, March 2, 2009.

8. Where should I go for additional information?
If you have specific questions pertaining to your Spring 2009 disbursement, contact the financial aid office at 909/652-6141. This financial aid information hotline is available 24 hours a day. Updates will also be available on the website at www.chaffey.edu/finaid.

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