Frequently Asked Questions About the Financial Aid Refund
We have partnered with BankMobile to deliver your refund. For more information about BankMobile, visit this link: http://bankmobiledisbursements.com/refundchoicessso/. We've also highlighted frequently asked questions below:
- How do I get my financial aid refund?
- What kinds of money might I receive from Merced College?
- How is my money delivered?
- Can I change my preference for receiving money from Merced College?
- How will I know when my money has been sent?
- What if I have additional questions?
The most common type of money BankMobile disburses to students are funds left over from financial aid awards, loans or grants after tuition has been paid. Students receiving these funds have usually requested this additional support to help with books and living expenses. Other types of money may include reimbursement for tuition overpayment or a dropped class. BankMobile uses the term “refund” but Merced College may have another name for these funds, such as a disbursement, residual or a stipend.
Delivery of refund money is a multi-step process. First, Merced College draws funds from the respective loan and/or grant provider and applies it to your student account. Once this information is verified, it is sent to BankMobile. Once the specific refund information is received, it is processed and disbursed according to your selection.
Yes. Just log in to RefundSelection.com and select Refund Preferences from the Refunds menu option. Once on the page, make your new selection and click the Update Preference button to complete the process. Be aware that your new selection will only affect future money you receive from Merced College.
BankMobile will send you an email to the address you entered during setup or you can view the status of your refund online at RefundSelection.com.
You can also sign up for mobile alerts (Message and data rates may apply, please see your provider for details). An alert will be sent each time the status of your refund changes. These alerts are sent real-time to provide you with the most up to the minute information regarding your refunds. To sign up, select Mobile Alerts from the User Profile menu option.