We deliver refunds of credit balances on student accounts and pay student employment (work study) earnings with BankMobile Disbursements, a technology solution, powered by BMTX, Inc. A credit balance may come from payment of financial aid (grants, scholarships or loans) credited to a student’s account, overpayment of charges, or adjustments for tuition, fees, or housing. More information about BankMobile Disbursements.

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Financial Aid Disbursement

Financial aid funds disbursed to a student’s account are first credited to the student’s educational expenses. Once education expenses are paid in full and if a credit balance remains, the credit balance is refundable to the student. Refunds are processed within 14 business days of when the credit balance was created.

Some financial aid requirements are as follows:

  • Student’s first class has started
  • Student is registered for the number of credit hours for which aid is awarded
  • Student is taking classes for credit. Classes taken as “no credit” are not aid eligible
  • Classes taken apply to the student’s program of study

To view our third-party servicer contract for refund management, go to the Client Contracts & Profile page.